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

DCWDCW Posts: 7,281 ✭✭✭✭✭
in U.S. Coin Forum

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

Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."

Comments

  • BustDMsBustDMs Posts: 1,601 ✭✭✭✭✭

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

    Q: When does a collector become a numismatist?



    A: The year they spend more on their library than their coin collection.



    A numismatist is judged more on the content of their library than the content of their cabinet.
  • WAYNEASWAYNEAS Posts: 6,681 ✭✭✭✭✭

    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

    Kennedys are my quest...

  • TradesWithChopsTradesWithChops Posts: 640 ✭✭✭✭

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

    although that 1% valuation fee would be craaazy

    Minor Variety Trade dollar's with chop marks set:
    More Than It's Chopped Up To Be

  • JBKJBK Posts: 15,506 ✭✭✭✭✭

    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.

  • RedSealsRedSeals Posts: 278 ✭✭✭✭✭
    edited October 6, 2021 7:17AM

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

    Successful BST Transactions with: PerryHall, MrSlider, Cent1225, SurfinxHI, Blu62vette, robkool, gowithmygut, coinlieutenant, Downtown1974, MilesWaits, Shrub68, justindan

  • Off_Cent_erOff_Cent_er Posts: 164 ✭✭✭✭

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

  • jmlanzafjmlanzaf Posts: 34,046 ✭✭✭✭✭

    @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

  • TradesWithChopsTradesWithChops Posts: 640 ✭✭✭✭
    edited October 6, 2021 8:20AM

    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

    Minor Variety Trade dollar's with chop marks set:
    More Than It's Chopped Up To Be

  • CaptHenwayCaptHenway Posts: 32,112 ✭✭✭✭✭

    Scrooge McDuck

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    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_ModeratorPCGS_Moderator Posts: 264 mod

    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.

This discussion has been closed.