Coins worth their weight in gold (or silver)

trozau

Read on ...

http://www.nytimes.com/2011/05/30/us/30gold.html?_r=1&hp

gecko109

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.

57loaded

"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.

Baley

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

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

PerryHall

<< <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.

BBQnBLUES

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


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

ksammut

<< <i>

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


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



LOL love that show.