22. February 2024

• The article discusses the numismatic roots of the concept of Ordinals and inscriptions and uses as an example the 1933 double-eagle coin, which is currently worth $18.9 million.
• It explains how Theodore Roosevelt proposed the minting of such a coin and Augustus Saint-Gaudens wrote about his wish to improve U.S. money before President Franklin Delano Roosevelt took the country off of the gold standard, making it illegal to own.
• The article also mentions that around 20 pieces disappeared before the total supply got destroyed, with this serving as an example in terms of modern Bitcoin values.

The Numismatic Roots Behind Ordinals

The concept behind Ordinals has classical numismatic roots – if one has a rare coin (such as a satoshi) then they want to store it for as long as possible for personal collector pleasure or profit potential down the line. This idea can be further enhanced by adding inscriptions to coins, increasing their value and philosophical purpose even more significantly. An example of this is seen with the golden double-eagle coin minted in 1933 in U.S., which is now worth $18 million dollars – showing just how influential this idea can be when taken into account properly.

Theodore Roosevelt’s Proposal

At first, this concept was proposed by U.S President Theodore Roosevelt who wanted designer Augustus Saint-Gaudens to bring it to life – something he wrote about with fear and trembling because he wanted so desperately to improve America’s money situation at that time. Unfortunately, his noble intention was killed by President Franklin Delano Roosevelt after he took America off of the gold standard, making owning these coins illegal – thus reducing their overall supply even more significantly than normal market forces would have done otherwise.

Modern Bitcoin Values

When looking at this issue through modern Bitcoin values, we can see that despite being melted down and made illegal there were still around 20 pieces that managed to disappear before destruction could take place entirely – thus giving us an insight into how rare these coins were and how valuable they have become over time due to their scarcity alone. This serves as an important reminder for all those looking into collecting coins today: always take into account rarity when considering what kind of items you’d like add to your collection!

The Beauty Of Coins

Aside from being extremely valuable on paper or digitally stored on computers, coins are also beautiful works of art that needn’t only represent financial value but also important philosophical ideas from different eras across different cultures too – especially when one takes into account unique inscriptions found on certain pieces from various times throughout history (like our aforementioned double eagle example). Thus it’s important not only appreciate them financially but aesthetically too!

Conclusion

In conclusion therefore we can see just why people collect coins: not only do they represent potential monetary gain but also artistry in its purest form too; something we should all strive towards preserving for future generations no matter what type or era these particular coins come from!