32 million dollar for a 8cm wide porcelain cup

[Skybird]

http://www.bbc.com/news/entertainment-arts-26935113

Sometimes I wonder about the definition of the term "mental sanity".

Seeing that thing, i would expect to see many of that sold from big boxes at Woolworth for 0.99 per item.

[Betonov]

Look at this. It's worthless - ten dollars from a vendor in the street. But I take it, I bury it in the sand for a thousand years, it becomes priceless.

The good old days of the porcelain standard.
There is a relatively fixed number of these pieces of porcelain and the government cannot manipulate their value by simply firing more.

Sometimes I wonder about the definition of the term "mental sanity".

This "insanity" is a standard variation of your economic ideal.

[Wolferz]

I bet if you check the bottom of the cup it says...
MADE IN CHINA

[Skybird]

Originally Posted by Betonov

Look at this. It's worthless - ten dollars from a vendor in the street. But I take it, I bury it in the sand for a thousand years, it becomes priceless.

Not really true, for the French professo implies his assessment is a general "absolute" to which everybody would agree. But obviously an anceint old cup would not be worth just any amount of money to everybody - most people would consider it a broken, old item, not worth their money.

If that old porcelain cup would be agreed by EVERYBODY (= the vast majority) to be of that much value, then maybe we would get a new currency of old porcelain cups . Then you pay your two donuts with scratching a microscopic tiny grain off that porcelain, to pay with it. That this does not happen, obviously means that there are other items more fit to serve in that function, and more agreeable to be used from most people's POV, and too few people would agree that that cup has become priceless just becasue it has been buried in the sand for long.

So, I disagree, Monsieur!

I instantly had that scene on my mind, too, when reading the story, Betonov!

[Betonov]

As long it has value to one person, it has value.

But most probably, someone is just betting it's price will go up the next time it's put on auction. So be it, it means that someone has an interest of keeping this little piece of history intact.

[AVGWarhawk]

It is worth what one is willing to pay for it.

[Wolferz]

The insurance people at Lloyds of London (Rroyds of Rondon?) are rubbing their hands together anticipating payment of a hefty premium.

[Aktungbby]

Originally Posted by Skybird

Sometimes I wonder about the definition of the term "mental sanity".

Arguably the ultimate oxymoron (ὀξύμωρον-still Greek to me!) and then there's the Norwegian point-of-view...it's enough to leave ya screamin'! The pastel version(of 4)" The Scream" just sold at Sotheby's in 2012 for $122.2...The price boggles but the concept is clear enough... in any language!

[Platapus]

"Everything is worth what its purchaser will pay for it." Either Publilius Syrus or Leonard Nimoy

[Betonov]

Originally Posted by Platapus

"Everything is worth what its purchaser will pay for it." Either Publilius Syrus or Leonard Nimoy

You've been playing Civ4, weren't you


On the other hand, if the civilization breaks down and my coins become worthless, silver can still be used as raw material for makeshift electrical machinery

[Oberon]

Originally Posted by Betonov

You've been playing Civ4, weren't you


On the other hand, if the civilization breaks down and my coins become worthless, silver can still be used as raw material for makeshift electrical machinery

Which is good, if you can generate the electricity.

The problem with the SHTF scenarios is that there are many different ways in which it can occur and each different scenario impacts the planet and society in different ways. A global EMP for example would make unshielded electronics useless, but a virus would leave them intact. It would really depend on how far back in our progress we are set.

I could see things like Gold and Silver being worth something in the first few years, since the vestiges of pre-collapse life would mean that people would still associate them as having a value. However the necessities of post-collapse life would soon make other items more valuable than Gold and Silver, things like food, clean water, somewhere safe to sleep. If you look back at the Feudal systems of old, the peasants don't generally handle much gold, but without them the Lords would have no-one to work the land and provide materials for him to trade to other Lords. So, he (or she in some societies) provides safe living and access to just enough food and water for survival for the peasants, and in turn they provide materials for the Lord, if either one removed themselves from the picture then trouble would occur, the peasants would find themselves at the mercy of bandits and rival Lords (although depending on the armed forces and ability of the Lord in question they probably would anyway) and the Lord would find himself having to plough his own fields.

Furthermore, if for some reason the S does not HTF, much to the disappointment of many, then there's good enough reason to suspect that in the far future the value of Gold will plummet as mining of our local asteroids and planets commences. Other metals or even gases will become more valuable as time progresses, right now in fact Platinum is worth more than Gold due to its scarcity, but few people advise to buy platinum.
Right now, an ounce of Gold is worth at the most $1313, the same weight of Platinum is worth $1440.

The next big thing? Helium. Right now the prices are relatively low, people can buy it and make party balloons and silly voices with it, but that's only because the US is keeping it low to sell off the reserves it has built up. Once that stops, well, if you'll pardon the pun, the cost of Helium will balloon. Lithium too will likely be a big thing in the future.

But you could be right for a different reason, since silver, compared to gold, is massively underrated in price.

Errrrrr.....no.
Gold compared to silver has been massively overrated in price recently, for the 2nd time in 30 years.
Its a simple process which is easy to understand and benefit from.
When the doomsayers of von misery and the Beckian horde are shouting buy gold buy gold buy gold now, you get ready to sell gold.

[TarJak]

What's more interesting is how a former handbag maker and taxi driver built a fortune in China to gain the ability to buy the cup at that price. http://m.bbc.com/news/business-13752540

[TarJak]

Very cup.
So money.
Much pointless.
Such argument.
Wow.
Good coin.