Who is in for the Mint's new trillion dollar coin?

DCW

Any deep pocketed collectors in for this bad boy? Hansen?

https://www.axios.com/trillion-dollar-platinum-coin-mint-janet-yellen-223e7722-d7ba-47c9-b5f6-49a841d181de.html![]

Getting more and more like Zimbabwe every day

HATTRICK

If they offer a two coin set in proof and reverse proof I will order the household limit.

BustDMs

I will take two also so I can leave one to each child. 😏

WAYNEAS

I was wondering if they would submit it to our hosts to be graded and slabbed so it could reside in the Federal Reserve.
Wayne

TradesWithChops

I'll take one, submit it to PCGS for grading, and then sell it.

although that 1% valuation fee would be craaazy

JBK

Before the thread turns political and gets shut down, does everyone remember why this scheme always involves a platinum coin?

Unlike other legislation that lists the specifications - including denomination - of the coins that are to be issued, the law that authorized the platinum bullion coin program left the choice of denominations to the Secretary of the Treasury.

Therefore, a platinum coin can technically be issued in any denomination. A mintage of a few dozen one trillion dollar coins would wipe out the national debt, at least on paper. But who would be willing to swap that much value in treasury bonds and notes for an ounce of platinum?

The end result that would eventually occur has been demonstrated numerous times over the past century.

RedSeals

Now do you need a helicopter to get First Strike Designation ?

Off_Cent_er

I'll take "Stupid Things The Government Does" for a trillion, Alex.

jmlanzaf

@JBK said:
Before the thread turns political and gets shut down, does everyone remember why this scheme always involves a platinum coin?

Unlike other legislation that lists the specifications - including denomination - of the coins that are to be issued, the law that authorized the platinum bullion coin program left the choice of denominations to the Secretary of the Treasury.

Therefore, a platinum coin can technically be issued in any denomination. A mintage of a few dozen one trillion dollar coins would wipe out the national debt, at least on paper. But who would be willing to swap that much value in treasury bonds and notes for an ounce of platinum?

The end result that would eventually occur has been demonstrated numerous times over the past century.

The idea isn't to release it but to deposit it at the Fed and monetize it. They can then credit the seigniorage which is like $999,999,998,500

TradesWithChops

I feel like, politics about coins should be allowed in a coin forum... but can see how it could veer quickly.

That said, can this only happen by law with platinum? What about bills?

I actually do kind of like the words trillion across the bottom. hehe

jmlanzaf

@Off_Cent_er said:
I'll take "Stupid Things The Government Does" for a trillion, Alex.

It's no more or less stupid than printing $1 trillion in treasuries which the Fed buys.

CaptHenway

Scrooge McDuck

amwldcoin

Has anyone stopped to consider how much every tax paying American would have to pay to balance the budget right now before all this additional, socialist, crazy spending is added? I just wonder how long the US's fiat monetary system is going to last.

PCGS_Moderator

Like these posts:
https://forums.collectors.com/discussion/1064461/trillion-dollar-coin
https://forums.collectors.com/discussion/1064458/seriously-a-one-trillion-dollar-platinum-coin-cmon

Closed discussion due to political overtones.
While the case could be made that it wasn't the original intent, just take a look at the progression of the thread.

Please take it to a political forum if you want to discuss further.