Valuing coins as the sum of the underlying asset and a perpetual American put option

Australian Commonwealth Government Crimes (Currency) Act 1981. Duffie, 1996 Merton, 1973, Theory of rational option pricing, Bell Journal of Economics and Management Science, 4, 141, 10.2307/3003143 Nalebuff, 1988, Puzzles: Penny stocks, discount brokers, better bidding, and more, Journal of Economic Perspectives, 2, 179, 10.1257/jep.2.1.179 Neuberger, 2002, Gold coins in a fiat currency Rennik's Australian Coin and Banknotes Guide, 1973, 7th Edition to 2004, 21st Edition. Rolnick, 1986, Gresham's law or Gresham's fallacy, Journal of Political Economy, 94, 185, 10.1086/261368 Selgin, 1996, Salvaging Gresham's law; the good, the bad and the illegal, Journal of Money, Credit and Banking, 28, 637, 10.2307/2078075