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Coins worth their weight in gold (or silver)

trozautrozau Posts: 3,455 ✭✭✭
trozau (troy ounce gold)

Comments

  • gecko109gecko109 Posts: 8,231
    This could be a "reverse" Gresham's Law.

    Instead of bad money driving out good, this newly enacted law may have the very opposite effect. If enough merchants snowball into preferring to accept precious metals, the USD may become completely shunned altogether.

    All any revolution takes is a starting point and a small catalyst. Could this be the start of the domestic revolt against our fiat system? It has already begun abroad.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    "Now, however, Utah has passed a law intended to encourage residents to use gold or silver coins made by the Mint as cash, but with their value based on the weight of the precious metals in them, not the face value — if, that is, they can find a merchant willing to accept the coins on that basis."

    but it IS a start, however, would one buy with an appreciating asset (PM) for a depreciating asset a new car? (extreme example)

    that part i don't get.

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    would one buy with an appreciating asset (PM) for a depreciating asset a new car?

    sure, sometimes, until someone can figure out how to drive a gold bar to work every day image

    the USD may become completely shunned altogether. Oooo, wouldn't that be exciting! Is that what you're hoping for?

    Liberty: Parent of Science & Industry

  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭


    << <i>....if, that is, they can find a merchant willing to accept the coins on that basis. >>



    I bet the average coin shop would allow you to spend your ASE's and AGE's for their merchandise.image

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

  • BBQnBLUESBBQnBLUES Posts: 1,803


    << <i>I bet the average coin shop would allow you to spend your ASE's and AGE's for their merchandise.image >>


    But... Would ChumLee be able to do the math ?¿
  • ksammutksammut Posts: 1,069 ✭✭✭


    << <i>

    << <i>I bet the average coin shop would allow you to spend your ASE's and AGE's for their merchandise.image >>


    But... Would ChumLee be able to do the math ?¿ >>



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