Maybe I am just dense, but I don't understand how post 1965 standard circulation coins, even $1 dollar coins are any better than paper fiat currency. Junk metal fiat coins to me are no better than junk paper (cloth actually) fiat money. . One exception. ..... dimes make excellent anti-personell 12 gauge loads for close range. One particular Billy the Kid jail escape story got me interested enough to make up a few loads and check their performance out. I was impressed out to 20 - 30 yards. . Please someone explain to me what makes the dollar coins (non silver) so unique and special.
I believe the scrap value of a dollar coin is just under six cents. Guess its quite a bit more than the paper is worth! Still, it doesnt make sense that this would stick it to 'em....
This is as ridiculous as saying that not spending money will crash the Fed. Also, this "the Mint just spends the money into existence" is also incorrect and patently false. The Federal Reserve Bank fully controls the amount of all physical currency issued in the United States, and has since 1913. They (the Fed) order the Treasury and the Mint to print fiat and/or stamp coinage, at the Fed's discretion- and the Fed sells all currency, whether physical or electronic to the US Government (for interest), and all based on the needs of the Fed. The information presented by the OP is inaccurate and foolishly under researched.
A dollar is still a dollar. At any rate, a dollar is still 1/20th of a 1913 dollar (about). It doesn't matter whether it is paper or metal, unless the metal is precious or semi-precious. Fiat currency is fiat currency. Who is Bill Still? I mean, I only have a degree in Economics and follow this stuff daily. It must mean that I am an idiot to not have heard of this winner.
Bill Still - Bill Still ( billstill3@aol.com ) is a former newspaper editor and publisher. He has written for USA Today, The Saturday Evening Post, the Los Angeles Times Syndicate, OMNI magazine, and produced the syndicated radio program, Health News. He has written 22 books and two documentary videos. Notable for his recent film Secret of Oz. It is available, full length on YouTube. Very nice film. From his website secretofoz.com
If you did stamp out some they would probally be worth about as much if not more than the US dollar on the world market.
Oh well, I got excited thinking I'd be using a dollar that didn't come with interest. Either way, I like them, more interesting than a dollar bill.
A $100 bill stays in circulation for 20 years, a $20 dollar bill stays in circulation for two years and the dollar bill 12-18 months. How long does a one dollar bill stay in circulation Coins stay in circulation for 30 to 50 years. How long do US coins remain in circulation 45% of the Bureau of Printing and Engraving's Budget is replacing dollar bills. In dollars that is $184 million a year.
The coins would have to be made of gold or silver in order for this to work. The FRN's are debt obligations and are not true money. A currency, yes.. but not true money. If I can't go to ANY PLACE (Ok...99% of the places) in the world and use it to purchase a good or service, it's not money. Gold and Silver are money. If we started using gold and silver coins minted by the Treasury and never used an FRN, then I could see the FRN inflating into oblivion.
