Modern Coins: Bullion, the Euro and Coins Today

In the 20th century coins stopped being treasure and became tokens. Country after country took gold and then silver out of circulating money. In the United States, the Coinage Act of 1965 removed silver from the dime and quarter. What you carry now is worth what the government says, not what the metal would fetch.

Precious metal came back in a different form. In 1967 South Africa launched the Krugerrand, a gold coin holding exactly one troy ounce of fine gold and sold for the value of its metal. It made it easy for ordinary buyers to own gold. Canada's Maple Leaf, the American Eagle and many others followed.

Then, on 1 January 2002, twelve European countries swapped their francs, marks, lire and pesetas for a single set of euro coins. Each coin has a common side and a national side, so a coin minted in Spain might turn up in your change in Finland.

Today's coins are also harder to fake, with two-metal designs and fine edge details. Commemorative issues keep coins collectable even as people use cash less.