"A penny saved is a penny earned." - Benjamin Franklin

Passing through the columned portico of the Chicago Civic Opera House on my journey homeward Thursday night, I noticed a lone quarter lying on the sidewalk of the building's stately colonnade.

When I was a little kid, I got a real kick out of finding pennies on the ground, and to this day, I will still stop to pick one up. Some people think that a face down penny is bad luck, but whether heads up or down, I almost always reach down and pocket these coins. After all, my philosophy is that finding free money is a lucky proposition in and of itself.

And while quite a few people had probably passed by during the evening without giving second glance to this particular quarter, I paused to pick it up. Although the surface of the coin had a luminous shine, the edges of its engravings were gray and dark--the telltale tarnish of a silver quarter.

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Minted over fifty years ago at a time when quarters were made primarily from silver, this quarter is now worth more than just its face value of twenty-five cents. Well worn from circulation, the coin likely has negligible numismatic value to collectors, but it still has intrinsic value due to its silver content.

Between 1932 and 1964, United States quarters were forged from an alloy of 90 percent silver and 10 percent copper. Since each coin weighs 6.25 grams, and there are 31.1034768 grams in each troy ounce, the ASW (Actual Silver Weight) of this quarter is .180848 troy ounces (6.25 grams multiplied by 90% silver and divided by 31.1034768 grams per troy ounce equals .180848 troy ounces silver).

The price of silver is currently $16.885 per troy ounce based on Thursday's closing price at the CBOT (Chicago Board of Trade). Therefore, the melt value of this quarter is $3.05--significantly higher than its face value of only $0.25.

If there's a lesson to this story, I suppose it's that most people walk right by seemingly insignificant opportunities every day, even though there is often great value in the discernment of small details.

I believe that a man must practice responsibility with small matters before he is put in charge of large ones, and such a discipline reminds me of Benjamin Franklin's adaptation of an ancient proverb:

"For want of a nail the shoe was lost.
For want of a shoe the horse was lost.
For want of a horse the rider was lost.
For want of a rider the battle was lost.
For want of a battle the kingdom was lost.
And all for the want of a horseshoe nail."

In current times, corporate executives are paid millions of dollars, even while neglecting such trivial details as actually making a profit for the company. Politicians borrow and spend hundreds of billions of dollars without ever giving thought to the seemingly unimportant details involved in balancing a budget.

So although the ideals of men like Benjamin Franklin are now largely forgotten and ignored, perhaps we would each take greater benefit from the practice of good stewardship of both personal and national finances. In such matters of money management, the government has certainly not been a good example for its citizens, and so, maybe it is now time for the citizenry to lead a better example for its government.