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Should We Bring Back Larger Denomination Coins?? $5, $10, $20...

I'll be the first to admit that I don't know too much about classic gold.

I don't even own an example yet (although I plan to change that in 2009).

But a study of the denominations that were minted shows an interesting fact:

unlike unpopular coins from the 19th century like the 2 and 20 cent coins,

gold issues were minted for a LONG time...a few of them in excess of 130 years.

Now, one could assume based upon the number of nice, circulated pieces available

today that these coins were commonly used in commerce and circulated fairly well.

If we could circulate denominations of this size in the 1800's, why can't we bring

them back today? Not all of them, but at least maybe a $10 and a $20 coin. Maybe

they could be made out of silver once again. Would it work if they were clad? Or

do you think it would have to have some amount of precious metal for people to take

seriously? Isn't it time to stop wasting money on billions of dollar coins and begin

producing larger value coins again?


Let's hear some viewpoints.

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Comments

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭
    I think a $25 coin would rock.
    image
  • fcfc Posts: 12,788 ✭✭✭
    i think there is a law in the USA about common sense ideas.
    please cease and desist.
  • koynekwestkoynekwest Posts: 10,048 ✭✭✭✭✭
    I agree. $2.50; $5.00; $10.00 would work in my opinion.
  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    Those $2.5, $5, $10 and $20 gold coins of 'yesteryear' would be worth 50 to 100 times their face value today if used as currency. $250, $500, $1000 and $2000 coins.

    The modern age, with credit cards, debit cards, instant transfer and personal checks pretty much means that commerce does not need currency in these denominations.
    Banks can call each other on the phone rather than send hard cash via stage coach or train.
    And i'm pretty sure that the government likes trackable electronic transfers over untrackable currency at these levels.

    I'd love to see larger denomination coins; I am resigned to the fact that they would be made of copper.

    If the government is unwilling to print paper money over $100, I suspect there is little hope for a coin of an even higher value.

    Fortunately, there are plenty of those old gold coins around.

    Perhaps in time the population will lose enough trust so that a precious metal goes back into a coin. But that sort of loss of trust will come with all sorts of unpleasant baggage, as in total economic collapse must occur first. Trust is important for a whole bunch of reasons and if we lose it, we lose much of the power of our economic engine. Too bad the crooks at the highest levels do not grasp this.
  • cladkingcladking Posts: 28,307 ✭✭✭✭✭
    I'd like to see it but doubt it will happen.

    The major problem would be ith counterfeiting though this could probably be suppressed a lot.
    Tempus fugit.
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I like the .25 and 1.00 gold with Cal. on it or CC or O now that will work for me. image


    Hoard the keys.
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,277 ✭✭✭✭✭
    Yes - with or without PM. It would certainly make metal detecting more fun and profitable.
  • Steve27Steve27 Posts: 13,267 ✭✭✭
    I could see a $2 coin (Canada has them and the UK has a two pound coin).
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭


    << <i>i think there is a law in the USA about common sense ideas.
    please cease and desist. >>



    Agree. They would be mass produced by counterfeiters---especially the Chinese.

    Worry is the interest you pay on a debt you may not owe.

  • $20 and $100 coins would be ideal.
  • rld14rld14 Posts: 2,390 ✭✭✭
    I think that I have read on here before that Eagles and Double Eagles weren't commonly seen in day to day commerce.
    Bear's "Growl of Approval" award 10/09 & 3/10 | "YOU SUCK" - PonyExpress8|"F the doctors!" - homerunhall | I hate my car


  • << <i>I think that I have read on here before that Eagles and Double Eagles weren't commonly seen in day to day commerce. >>



    yeah, I believe even back then they didn't circulate too much. But then again, back then 10 and 20 dollars was a lot! The average weekly wages in the early 1880's (I'm using that example because that's what I know) was about 10-16$. So imagine spending a coin that's worth your weeks pay! It would have to be about a 200$ coin. lol
  • fishcookerfishcooker Posts: 3,446 ✭✭
    I think the Kennedy and the golden dollars should have their decimal points moved over 1 place. Make the Kennedy $5 and the Sacs and Prezs $10. Then they would actually matter because they actually buy something.
  • RWBRWB Posts: 8,082
    Gold coins did not circulate extensively in most of the country – the public considered them inconvenient. Where they did circulate, the US Mint had an active program of recoinage so that circulating gold was not excessively worn and thus of reduced value. This is why gold coins in Fine or lower grades is unusual.
  • I would enjoy 5,10,20 or 25 and 50 coins but twill never happen.
    Its all relative
  • itsnotjustmeitsnotjustme Posts: 8,777 ✭✭✭


    << <i> But then again, back then 10 and 20 dollars was a lot! The average weekly wages in the early 1880's (I'm using that example because that's what I know) was about 10-16$. So imagine spending a coin that's worth your weeks pay! It would have to be about a 200$ coin. lol >>

    Fortunately, I think many of the collectors and dealers on these forums make more than $200/week. That would be an annual salaray of --stand by-- $10,000/Year!

    Give Blood (Red Bags) & Platelets (Yellow Bags)!


  • << <i>I would enjoy 5,10,20 or 25 and 50 coins but twill never happen. >>

    Never say never. Given enough inflation, they'll be back -- but made out of aluminum.
    Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.

    my early American coins & currency: -- http://yankeedoodlecoins.com/
  • lope208lope208 Posts: 1,960


    << <i>I think the Kennedy and the golden dollars should have their decimal points moved over 1 place. Make the Kennedy $5 and the Sacs and Prezs $10. Then they would actually matter because they actually buy something. >>



    ...and make it retroactive! image
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    commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
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  • lope208lope208 Posts: 1,960


    << <i>

    << <i>i think there is a law in the USA about common sense ideas.
    please cease and desist. >>



    Agree. They would be mass produced by counterfeiters---especially the Chinese. >>



    Just curious, how is this any different from what they could be doing now? With all the Prez designs,
    couldn't they just as easily reproduce them and make hundreds of thousands of dollars worth?

    The metal content in a Prez dollar is currently worth about $0.025. Tell me that it wouldn't be profitable
    for the Chinese to counterfeit our dollars?

    Successful BST transactions:
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    -------------------------
  • coinlieutenantcoinlieutenant Posts: 9,305 ✭✭✭✭✭
    I would be all for it.
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>i think there is a law in the USA about common sense ideas.
    please cease and desist. >>



    Agree. They would be mass produced by counterfeiters---especially the Chinese. >>



    Just curious, how is this any different from what they could be doing now? With all the Prez designs,
    couldn't they just as easily reproduce them and make hundreds of thousands of dollars worth?

    The metal content in a Prez dollar is currently worth about $0.025. Tell me that it wouldn't be profitable
    for the Chinese to counterfeit our dollars? >>



    I think there would be a lot more incentive to mass counterfeit a $10 or $20 coin than a $1 coin.





    Worry is the interest you pay on a debt you may not owe.

  • garsmithgarsmith Posts: 5,894 ✭✭
    Yes
  • slincslinc Posts: 480 ✭✭
    I'd like to see it but would a $5 or $10 dollar coin catch on any better then the $1 coins?
  • I would vote yes to that, I metal detect a lot and the 25 cent is great but you have to find a lot of them. When I got to Europe there are 2 Euro pieces or like $3 so that goes a lot faster. Bring EM back
    image

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