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No More Dead Presidents As Mint Stops Coin Production
In continuing efforts to save governmental money (and waste) the Washington Post is reporting that the United States Mint will cease production of Dollar coins (with each carrying a deceased President's likenesses). More than 40% of the coins have been returned to the Fed because no one wants them. Who needs real money when 1s and 0s are all that counts nowadays?
White House cutting production of presidential dollar coins; will save taxpayers $50 million
The presidential dollar coin is falling victim to Washington’s cost cutting efforts.
The Obama administration is stopping nearly all production of the coins, which carry the likeness of every deceased President. The effort will save taxpayers $50 million a year in production and storage costs.
In 2005, Congress mandated that the United States Mint issue the coins. But the White House says more than 40 percent of the coins are returned to the Federal Reserve because nobody wants to use them.
Instead of producing 70-80 million coins per deceased president, the Mint will now only produce as many as collectors want.
The announcement is part of the White House campaign to cut back on government waste.
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No more coins bitchez!
No one wants the Treserve's tungsten?
If this is the same coin referenced, it's more cooper than anything. (I got your jest thyough). Funny thing is that the coin has President Garfield upon it. http://coins.coinupdate.com/james-a-garfield-presidential-dollar/ It seems as if this coin release was but a few months old and killed. Just like Garfield.
President Garfield openly declared that whoever controls the supply of currency would control the business and activities of all the people. After only four months in office, President Garfield was shot at a railroad station on July 2, 1881.
So that's how it all fits together.
At a bunch of the Metro-North stations in CT the pay slots were set to take the $1 coins some years ago.
Explains it all.
Careful there, people will think you are a conspiracy theorist. Next you'll be saying that the money changers were the ones who took out JFK. =)
Jesus too. He was killed by the money changers., along with Gaddafi.
Maybe new information for some readers
http://www.youtube.com/watch?v=aJURNC0e6Ek
That's a very good point, how do you in the US cope with vending machines that want a few dollars?
And does it matter what the dollar coins are made from? Surely even iron is more valuable than tatty stinky germ laden bits of paper?
$50M to the US Government is like me owing $150K in CC debt on a $150k/yr salary and deciding cut the pack of gum per week to reduce my spending.
Based purely on metal content, the dollar coins minted since 2000 are only worth $0.06 each. What's shocking to me is that they were able to figure out that quickly that no one wanted those fiat medals. Maybe they were getting tired of storing the unwanted coins in vaults near the mint and paying that rent? Wonders never cease.
The series was a lame attempt to keep up interest in coin collecting, along the idea of the state's quarters which was successful because quarters are a traditional coin.
The best coin bargain today is the US nickel which has a metal value equal to the face value. from coinflation.com:
$0.0510273 is the melt value for the 1946-2011 nickel on December 13, 2011.
Rolls of silver dimes and quarters are a good steady dollar-averaging way to accumulate PM and save your money from the fiat inflation monster = FRN. The revaluation will be a devaluation unless you have gold. Silver will be a trading commodity but may not be in a future revaluation scheme for new currencies. The silver interests and WM. JENNINGS BRYANT lost that battle of the Yellow Brick Road when the US adopted the GOLD standard.
@ FL_Conservative
So a dollar coin is worth $0.06. What is a dollar bill worth? I suggest it is a lot less than six cents.
edit: I can't undo the bold
Coins have always proven to be better than paper money throughout history. Even if they don't have precious metals in them. Obviously they are much more sought after if they do have precious metals.
http://silverliberationarmy.blogspot.com/
So we still keep using Federal Reseve Notes!!!!.......
Gold and silver are coins.
Everything else are tokens.
I think those coins use a little tiny bit of gold which the govt does not want to give away.
Well you thought wrong. Metal content is as follows: 77% copper, 12% zinc, 7% manganese, 4% nickel
" Who needs real money when 1s and 0s are all that counts nowadays?"
Pay down the debt? How about a flat tax using those digital 1's and 0's on all corporate holdings and individual holding over 500 million?
For each 100 billion to trillion +, flat tax 10%, ie remove 2 decimal places.
1 billion to 99.99 Billion, flat tax 1%, ie remove 1 decimal place.
500 Million to 999.99 Million, flat tax .1%, ie remove .1 decimal place
That'll help put a dent in the inequality, no?
I wish they would do away with the dollar bill, and switch to $1 coins, and $2 coins, like they have in most other countries.
I purchased a lot of 250 $1 coins a year or so ago, and when I tried using them more than half of the retailers would just look at the coin like WTF is this.
They would be more readily accepted if the coins were the size of a half dollar and not bloody identical to a quarter.
yeah...except they are a golden color. Anybody who would confuse that with a quarter is a dope. Just sayin'
I'm happy to announce that I never even knew they made this stupid shit.
Troglodyte
coins unless pm are stupid. the problem is not with paper it's that the paper is fiat
History has proven beyond a reasonable doubt that good paper (backed by PMs) always end up as bad or fiat paper. This is why paper should be avoided like the plague itself. Gold and silver coins, real money, must be used, otherwise you can kiss Lady Liberty goodbye sooner or later.
That's part of the problem, to be sure- but the other component of it is that coins are produced by the US Mint under the direction of the Treasury. That means that not only do US taxpayers *not* pay interest on our currency when coin is used, but that the seignorage gained from the difference between the intrinsic and face values of US coinage can be used to fund the government, rather than being funneled into the Fed.
While it would not be a cure-all, there's nothing saying that the US could not start making coins in denominations up to $20 or $50 using less-than-precious, but durable metals that have some intrinsic value, such as stainless steel, titanium or nickel alloys. While it wouldn't magickally fix everything, it would effectively create a competing currency that would circulate alongside paper notes and EFTs that had some intrinsic value. Those who chose to save or collect could hold the coinage knowing that if the paper notes are devalued too far, the coins will go the route of 90% silver, and they will still have something of value.
If the FRNs were abandoned entirely in favor of semi-precious coinage, it would have the added benefit of reducing the pain of periodic busts by allowing the economy to function on less than 6% annual growth. Since there would be no interest to pay, there would be no requirement to continue inflating the money supply to pay the debt.
The biggest problem with coinage right now is that the denominations are not useful in relation to the real prices of goods. It wouldn't be a terrible idea to drop the penny, save the $1 coin, and add 5,10,20 and 50 dollar coins to circulation. It's not such a pain to go grocery shopping with coin if you can pay with $50s and $20s- the problem comes when you try to pay $100 in dimes and quarters.
All true and well said. Spoken like a true Jefffersonian! Nice to see when people "get it".
You are right on the ball. Nobody will use these coins as long as the $1 Fiat is still in circulation. I don't know why it is so hard for the powers that be to understand that as long as there are $1 paper bill in circulation, nobody will use the coins.
They have been wondering for years why every $1 coin since the Eisenhower dollar have been failures. It is simple, paper is easier to carry. If you want people to use the coins, take the dollar bills out of circulation. Dummies.
Those minority of Americans who have passports must shit themselves when they arrive in Europe.
My real money is in food and ammo. Junk away you gold loving skanks.
Yes but 3 months after you start needing your food and ammo, how are you going to buy more food and ammo? With FRNs? The final clusterfuck will be long, deep, unrelenting and will go on for years.
Umm, the ammo will buy me food. Or I will eat you and the rest of the 99%
Great, so you put essentially a weapon into several someone's hands who have a strong motivations to follow you home and dry gulch you. OR you decide cannibalism is the right way to go. Nice fucking plan!
Did you EVER consider silver as a trade item? I mean you CAN shoot someone with silver but it takes more work than loading a magazine and shooting you in the back.
Obviously a lot of these "preppers" who have no PMs aren't really thinking it through.
What will be really funny is when the "guns and ammo only" assholes who think they can take other's stuff by force find out that the only people with food and PMs also own... Plenty of guns and ammo.
Right, b/c the group think on here holds that you know that the endgame will involve you buying McMansions with your junk silver. GL with that.
Nobody who knows what this is about, and there are plenty of these people here, would get a McMansion even if it was given to him for free. This is not about lets be a millionaire, this is about reality. Look at the debts. Look at the gradual, but accelerating total demise of productivity, politics and pretty much everything you took for granted. Look at the developing shortage of every natural resource you have in mind. Just look around you. You do not want a McMansion or anything like that, you need to make sure you have the basic tools and supplies to survive what is coming. And don't think that there will always be a way out. The Romans thought the same. Then came Alaric.
It is never different.
I might take a McMansion... If I could buy it right and split it into enough apartments.
How about owning food, water, guns, & PM's & call it a day?
+ 1
Works for me.
This is what I hear all the time. Why does nobody ever mention tools? I'm thinking a sewing machine and materials to craft clothes, bags etc of different fineness or leatherworking if that's your thing, woodworking tools, metalworking tools, electronics bench, and going into ever more complex, geeky crafts what about machine shop supplies and machines, a CNC machine, stuff to do fiberglass work or polycarbonate plastics etc?
It's like people are getting ready to go live back in caves. I'd rather see what I can do to maintain a given quality of life and to have the basics to bootstrap myself out of it, too.
I guess I always take that as a given. When times were better, I bought tens of thousands of dollars worth of woodworking equipment, and have a forge just because I thought it would be fun to make wraught iron (it is, by the way.) Not buying tools right now, because I already have what I need.
One note about the CNCs, though- while they're great, if you're thinking home shop, you probably want to lean more towards engine lathe and manual mill. Good ones will run you about $6000 for the pair used, give or take. New Bridgeports go for about $18,000 depending on options. You can make anything you need on those, and they are more robust. CNC usually needs 480v or more power, as well as a steady power supply- fluctuations can wreak havoc on the NCs. A decent Bridgeport mill or Hardinge lathe can ba retrofitted, if need be, to run on just about anything, including a pulley system hooked to the drive wheel on a vehicle. Can't do that with CNC- if you want to be self-sufficient with one of them, you'll need a power plant, or be willing to risk damage from brownouts or blackouts.
And in the absence of 480 volts how would you power them? By a vehicle! Wonderful. And when there is no oil/gas/diesel no doubt you can erect a friggiing big wind turbine made from timber and copper. Strewth!
There is a real world outside of your rose colored protected future. Just think for goodness sake. 480 volts, perhaps you can harness lightning?
I suppose though that you could be the post apocalyptic new General Motors. Maybe. Bon Chance.
Just to fill in, my point was that you should not run out and spend $250k on a CNC mill, when an older manual machine would work for most things. Back in Henry Ford's day, machine shops were often powered by a single large steam engine- a central shaft ran down the length of the shop, and individal machines were powered by belts. Modern CNC enables two things- flashy design, and consistant production runs- if you don't need either, CNC is not required.
A person can replicate that with a manual machine whose axes move via handwheel- but there is no chance of that happening if you must power an NC, encoders and stepping motors, and hit a constant 4-phase or higher target.
You missed the fact that I was making the point I believe you are trying to make. If you have a small manual machine or two, a bank of batteries (not something to scrounge later, but they are availible for purchase now, if you're so inclined,) a few solar panels and an inverter, you could use a small mill to make replacement parts and other useful items. Or you could power it with a small gas or steam engine. Any of those choices, while not easy, are better than giving up and laying down to die, if that's your other choice.
As to your last line, I already make things for a living, and will continue to do so as far as circumstances allow me to. If that means generating power, I'm going to at least try. I'd say that gives me quite a bit higher chance of being a post-apocalyptic GM than you have, anyhow. Though I'd be happy enough just being able to make replacement parts for the town's water pump, and maybe catch a little work repairing guns if things get really ugly.
@ Think For Yourself
You Sir have more nouse than the "Guns and Ammo" brigade x 1000.
While you are surviving without attracting any attention other than barter paying repeat customers the PM holders will be attracting attention from the desperate who will also have guns and ammo from the other PM holders who they have already killed.
You could teach them all a valuable lesson, and that idiot Simon Black.
Kudos to you!
Excellent, except for the water. Storing it's kinda silly. Why not just move near a stream?
Trying to take others stuff wont buy you a long life... Thank god here in UK guns are more rare.
You have that thinking exactly backwards.
Sucks for you, I'm genuinely sorry.
You will be more sorry when you see bunch of barberians shooting others for some bread.
Im not saying guns are bad, shit even i have an air rifle, but in the scenario we are heading there will be a lot of scavenging. This makes me more happy to live here where guns are less likely to kill anyone.
So you would rather be bludgeoned to death than shot?
Guns are merely force equalizers. They allow someone of lesser physical strength to defend themselves against a larger, superior opponent.
I would much rather take my chances in a gunfight rather than the odds against defending against multiple attackers unarmed.
To each his own though.
pods
The real question is WHO will have guns and ammo? If the goverment collapses, there will be plenty of guns and they will be in the hands of those who used to be the heavy hand of the government, in the UK as well as the states. If that scenario should occur, I would be much more concerned with ex agency types than I would be with fellow citizens who are armed. In the UK, since the citizens have no arms, well, the slavery just gets worse there after the collapse, no matter what. In the US, if the police state collapses right along with the gov, we have a better chance of dealing with the paramilitary types who now want to become the oligarchs, like in Russia. just sayin'. You guys in the UK are screwed, and if you think you're gonna be better off with no guns around in the hands of citizens, well just wait. We have a saying here, "When guns are outlawed, only outlaws will have guns." You will get the chance to find out what that really means.
True in a sense but you need to understand the small percentage of the population holding guns (those in gov). The chances of police and army reuniting and killing innocent for no reason is less likely than gangs going around looking for goods. We also have a saying "The more guns the more blood.".
Yep, you're absolutely right about that. Those people in the gov, they are the ones you can trust, right. I guess I really do need to rethink my position on this.
You know, I think you're right. TSA, FBI, ATF, DHS, and a hundred other 3 letter groups, these ARE the trustworthy ones in our society. I don't know what I was thinking. Well, at least, I finally got my head screwed on right.
+1000 :O)
Oh, and for the ones who are intellectually challenged, Transformer omitted the /sarc
It really depends on the people you live near...USA has a lot of smart sheep. Mmnot.
Gosh that lack of guns really helped the Rwandans.. Did they breed out the ability to think critically in England.. Two generations ago Britannia ruled now you have feminized fools with airguns..
So you say you're from the UK...have you not seen the movies Threads? This BBC production makes The Road look like a CareBear story. All in the God-fearing Queen's Land. The only one with guns are the military/paramilitaty and the rest of the people just beat each other to death or starve/freeze. Get a grip on reality.
One word. FICTION.
"1984" is FICTION too. Are you saying there are no parallels or bearing on reality? "Atlas Shrugged?" "All Quiet on the Western Front?"
I'm never sorry to see barbarians killing each other.
I am sorry when I see barbarians killing those weaker than them.
.
I care not, as I will be seeing them from afar through my scope.
And if it's garlic bread or Texas Toast, I may even shoot the winner.
Love me some garlic bread.
So only the ruthless have access to them. Nice nanny state you have going over there.
Don't eat them! They are toxic!
How appropriate that grumpy bear is your avatar.
Maybe I can find sunshine bear to give you a lapdance or sit on your face, that cheer you up? Or would you eat her too? (no, not that way)
Umm, the ammo will buy me food. Or I will eat you and the rest of the 99%
Sorry, but that won't work the way you think it will.
Only a few people want all-out anarchy and chaos- when that handful decide to go full retard and attack the neighbors with their hoarded guns, all the other people in your town will band together to put you down like a rabid dog. If you were the only guy with a gun, you might have a chance, for a while- but you're not. Almost every home in America is armed to some degree, at least in many areas, and that ought to keep people relatively civil with one another.
Keep the guns, though- useful for all kinds of things like protecting your home against desperate people and hunting. Just don't go kicking down the neighbor's door, unless you're looking for a gut full of buckshot.
Just sayin.
It's never sleeping alone with a rifle under the bed.
diversify for the win; PMs, food & water, and a way to defend it!
"Who needs real money when 1s and 0s are all that counts nowadays?"
+10110111000100101101
01000111 01101111 01101100 01100100 00100000 01000010 01101001 01110100 01100011 01101000 01100101 01111010 00100001
Damn it, Baxter! You know I don't speak Spanish!
http://www.youtube.com/watch?v=8ROqdZWwQp8&feature=related
Clutch 10001110101 Robot hive exodus
Your first column is off by a bit. Should be a little G sitting above a little B, not a slash sitting above an asterisk.
Make them out of silver and then you'll see some demand. US Dollar = TOILET PAPER & BEER TABS.
Awesome. Now mine are that much more valuable. Thanks.
Of course 40% were returned. There was a time when you could buy as many $1 coins from the mint with free shipping on your credit card. Add airline miles or cashback for credit card purchases and it was an RISK FREE arbitrage opportunity to make money.
Yep. First they restricted your order size. Now they finally realize that they were giving away something physical for a bunch of computer "0's" and "1,s".
Good times.
What are these coins made of anyway, I wonder if they'll hold any value in the post apocalypse?
The coins are made of copper clad zinc. Probably worth about five cents.
Sorry, no Kyle Bass-style arbitrage opportunity here.
Actually, $0.0590333
Per http://www.coinflation.com/
Damn good guess tho!
It is not just that. Coins are minted under a seperate "Act" as opposed the Federal Reserve Act. They are in fact closer to being "real" money that paper bills.
Going into coins therefore is about melt value (base metals) and/or a bet that some of the value of money and the basis for it's creation survives while paper bills implode. IMHO, a bet in favor of the original intent of the Constitution.
I was going to grab a few rolls of those $1 coins via internet, but folks figured out that with free shipping they could earn credit card points for free! That killed the whole internet, free-shipping thing. Guess I will have to actually go inside a bank now to get them.
I wonder if they'll hold any value in the post apocalypse?
You can play "quarters" with them (pre-cursor to BEER PONG) & if you make one in, the other guy has to drink...
On 2nd thought... In a 'post' apocalypse... I'd rather have them used on MYSELF...
$50 million...whats that about 1 minute of funding for the Gooberment?
I would rather cut this 50 than the 50 they have cut from funding basic research.... you know, stuff like the Hubble...
You don't get much say on how thieves spend your money.
The other day I gave a two dollar bill to a waitress and she came up to me and thanked me, because she collects them. The silver dealer had given it to me with change, along with a $1 coin, so I told her to thank him.
Another idiot collecting 2 dollar bills instead of spending them.
She told me it was her only form of savings. She didn't allow herself to spend $2 bills. So I guess I was contributing to her mattress IRA.
I feel sorry for her. She is one of the millions who will lose their hard earned savings to the sociopaths. You should have told her to allocate at least some of her (probably only) property to hard assets. Seriously, the time we used to just laugh at people who did not know better is over. Things are about to get very real.
My neighbor showed me his stash of $500 and $1000 bills. I told them they were worth double face value and could be changed over to silver. You should see the huge silver bars he has now.
Hence my avatar.
I've found $2 bills, 1976 quarters, SBA dollars, Prez dollars etc are great for garage sales. Goes like this:
Them: "That (gun, sterling silver tray, treadle, antique book, etc.)? That's $10 bucks, no negotiating."
Me: "I'll give you six in two dollar bills (That I picked up at the bank the day before in the hundreds)"
Them: "Wow! OK!"
The ignorant and their cool stuff are soon parted.
Just a question:
Why do you buy silver coins instead of silver/gold as a metal in the form of bullion or bars? Most numismatic PMs carry a "collectors value" premium that I don't see the point in paying. I really and honestly don't understand the preference of coins over 1oz bullion.
Could have been junk silver.
My main reason is for proof of silver, if I buy a pre-1964 coin, I can trust that there is 90% silver. If I buy bullion, how can I really trust it’s not Tungsten.
Say what you will about the constitution and the laws, but the government has to pay fair value for coins and can just confiscate bullion. So the hidden value of the coins is that pay stating there is a collectors premium, the government should have to pay a more reasonable price when they eventually comes to take your precious metals away.
There may be more reasons or I may be wrong, but that is my reasoning.
Correct me if I am wrong but I think it's the other way around in that one. Coinage is the property of th US government. You can use it, you can store it, but it is illegal to melt it to recover the metal. As such I think the government has greater authority to just recall their coins than to ban the possession of a lump of metal. I could be wrong but I think, worldwide, all currency is in fact property of the government. It is the basis of many currency destruction/defacement laws.
The Bernank is above the law BTW.
Junk silver is great to have. Small, known silver amounts. Coins are well known. Low premiums.
Great for barter situations. Hell even slug coinage could find work as a medium of exchange if things get bad.
pods
+1 Amen
You can also transport it overseas at face value. Try doing that with a silver or gold eagle...
Coins of the "realm" are the most liquid and accepted form of pm's. It's why Kyle Bass's nickels are a solid bet.
+1 Amen again
Most folks recognize coinage, the real reason Romans had standardized images on their coins, easy acceptance and trust, prior to debasement of course. Bars, hmm, I will not take the time to assay them, someone else will and of course they will charge you for the service , their goes that premium you were saving.
the coins cost $0.335 (ish) to produce.. the metal value is $0.335.. says the mint.
so whatever the face value is.. 1/3 of has been wasted.. and We the People! NOT! WALL STREET! will be eating the waste, costs and losses.. AGAIN!
America! Home of the Free! No Taxation without Representation!
God Bless Wall Street, In the Corporation We Trust!
The melt value is roughly six cents.
Thanks for the real number.. to bad with all "We the People" pay the mint.. we can NOT! ever get a real answer out of them!
And once again another dickhead derides the value of the metal. Tell you what, exchange all your metal for paper. I suppose you can wipe your ass with a piece of paper. Once.
Answer:
Total melt value is $0.06.
(exact value is $0.059034524019614)
http://www.coinflation.com
Just so I am clear..
we bought this shit for $0.335 per coin..
if we melt the coin down to its separate base metals.. it is worth $0.06 per coin..
and storage, transport.. and so on expenses..
='s a loss of?
never mind, just punch me in the face and call it good!
when will we the People stop getting fucked by these scumbag lobby whores?
Washington DC has given the whole Country AIDS.. and after that they come back once a week and give us a new std each and every week thereafter.
it is fucking sickening.
why are sooooooooooooooooooooooo very few of us fighting mad?
why are the stupid sheep so fucking stupid?
why aren’t the masses demanding transparency and honesty?
instead we get loopholes for the Constitution, fuck it! lock all of us up.. keep the stupid people and breed them some more.. so that no passionate, smart people exist anymore. That will help America now and in the Future!
we could have bought nickles worth more than the dollars! GREAT!
Because that funny-money still buys Whoppers and iPads.
At least for now we can keep buying nickels...
Excellent.
They are stopping at Garfield. This means there will not be an Obama coin issued.
Thank you Lord.
Chairman Obama would have to be dead in order for his visage to don the currency. A bargain, I wager.
does 'BRAIN DEAD' count?
Oops. My bad.
While I hate the man's shuck and jive politics, I respect the office and would never wish harm on him.
There probably never would have been. He would need to have been dead at least four years before the program ended if I remember correctly. If Carter dies now, he could make it.
The announcement is part of the White House campaign to cut back on government waste.
Yeah right
Just enjoy the theatre of the absurd!
/end sarc
The cost to make the decision and announcement cost $25 million.
Figure it this way, if the dollar is made into a coin, some people might put two and two together and figure out the 5 is next...and that money is slowly becoming worthless. So, the paper will cover up that fact for another 5 minutes.
"A nickle ain't worth a dime anymore"
~Yogi Berra
Typical.... the gubbmint could save a few hundred million by ditching the dollar bill but that is politically unfeasible...
The country deserves what it gets....
+10 gazillion!!!
At last! Somebody recognizes the difference.
Flakmeister, you and I could rob these idiots so easily by swapping their metal for paper. I think I love you :O)
Might as well stop making money altogether. It all sucks anyway.
You'll get your digital only world, one day, they hope, maybe you'll just get a chip. You think the 40% of your income that goes away now (think about it) sucks, just wait till they "must revoke 90% of your "credits" per annum to right the woeful fiscal policy of the early 21st century", all GOOD Americans will all comply, as they have no choice.
According to coinflation, the actual melt value of these coins are $0.06 (six cents).
However, the cost to print money in any denomination is about $0.04 (four cents).
And, it costs about nothing to have a paper weight hold down the zero key on a keyboard.
I read that for every 10 dollars created that 1 coin needed to be produced by law.
Also, I have heard the the US currently has rooms full of the things.
I wonder how much it will cost the government to destroy them. I wonder how much it will take the government to stop printing them.
They don't really want coins, or bills.
The goal is 100% electronic transactions.
Easy to track, easy to tax, and most of all, easy for banks to charge fees on once we have no other choice.
"The goal is 100% electronic transactions."
That should open up a black market for gold and silver. People will always want to transact off the books. If cash does not exist...
+ 1
Excellent point MsCreant! No cash means something else that´s quiet will have to work, and that would be PMs.
I agree.
However, the likely response of TPTB will be to make it illegal, like cocaine or automatic weapons, so they can confiscate property and other assets.
Of course, if our polite society breaks down, tangible currency will be required.
Agree.
Some of the barter already going on is illegal as taxes are often not collected on the exchanges. They cannot totalize us.
;-)
Easy to inflate into the stratosphere.
Coins with a content of what ?
Why not just let everyone buy and print their USDs on Groupon. The feeling of a banana republic would be complete.
The FRN is debt money.
Dollar coins are not.
Hence, they discourage use.
Indeed. Coinage is freely minted by the government.
Maybe they should stop making GD pennies.
So we can melt them.
In a pinch, one could always slag bullets out of 1946> nickles...
Obama's plan is to make PAPER AIRPLANE DRONES out of $1 bills...
What is safer 10,000 of federal reserve notes or 10,000 dollar coins minted by the us gov, or are they the same but different.
10,000 coins would be great for stopping incoming fire...
While 10,000 FRN's would be great for 'starting' a fire
How the fuck was the dollar coin made of pot metal any different than a note?
Coin lasts longer, generates more income to the Treasury, thus less taxation, in theory.
+1000
Paper must be for these people who visualize stacks of notes. Good luck when they burn and rot and get forged.
Before some smart arse says that paper is more portable, think of gold or silver. Metal, how useless it is, paper rules the world.
/sarc for the stupid
Anybody got a Monroe or Van Buren?
"Say, do any of you guys know how to Madison?" -- Brad Majors
+1
You'd better WISE UP Janet Weiss!
Thank you for the laugh.
That can't be good for commodity prices, what are they made of?
Any truth to the claim US nickels are worth 7 cents in metal value?
Been picking up $100 boxes of nickels every few months at the bank - teller giving me a blank stare like "what the heck are you going to do with 2000 coins!?" Keep getting the same question from my wife too. ...Worse case scenairio, they otta fit nicely in a 12 guage.
Coinflation