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Is it collectible?
IkesT
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The talk about minting a trillion dollar coin got me thinking. For the sake of argument, imagine there is such a coin and that it is legal to own.
Is it collectible?
This is a public poll: others will see what you voted for.
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I put yes thinking it's as collectible as a 1933 Saint.
Technically it’s possible but even the wealthiest people wouldn’t put all their wealth together to own it. The storage and security requirements would also be unwieldy at best.
You could always cut it into pieces like a Piece of Eight
Who would tie up all their wealth in that? You’d eventually want to access that wealth and wouldn’t be able to.
Reminded me of this Australian "coin" with a face value of AUD$1 million or "collector" value of AUD$50 million.
At the current exchange rate of 0.62 AUD$ to US$, the "coin" is worth US$620,000.
https://perthmint.com/1-tonne-gold-coin.aspx
A trillion US dollars worth of the Aussie coins would require a stack of a little over 1.6 MILLION of those behemoths. Even at "collector" value, you need over 32,000 of them.
Wrap your head around what a trillion dollars is and you will start the understand the magnitude of the Covid19 stimulus. And I don't think we are done yet. Don't feel bad, most people have no clue how to imagine a billion dollars, much less a trillion.
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I'll just wait for Dan Carr to come up with a fantasy copy bearing a different date.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
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There is one 1933 Saint that's in private hands that's legal to own. All the others were stolen from the US Government or so they claim.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Of course it's collectible. Just as money is demonetized so too is any contrivance invented by Congress.
Soon enough trillion dollar coins should be a dime a dozen regardless. I just hope they spring for good solid clad instead of copper plated zinc.
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I voted other. Hypothetically, yes. Realistically, also yes, just not likely and certainly not without some adjustments to the coin or an executive order eliminating it as legal tender. Minting a trillion dollar coin is not a new idea and is only a concept of a legal shell game, the previous administration considered it as well. As for security and possible ownership of such a coin I say yes it could be owned/collected. Who could own it? Well, any coin collector pays more than the minted denomination of any pre-1965 half so why can't the same be said of paying less than the minted denomination... even if it is 1 trillion? Unlike the intrinsic value of silver in pre-1965 halves ( or any silver/gold coinage ) driving those costs above the denomination no coin minted as a trillion dollars would contain an actual trillion USD of any metal. I'd venture to guess that if such a coin were ultimately minted and eventual release by the government for purchase, it would have some sort of mark indicating it as null/void of the trillion dollar value, or the minting design retired so that no one could claim to have one for deposit.
I'd rather have this:
Real is better
Pete
Only if:
No Fingerprint
Doubled Die (O or R, I am not picky)
No machine Doubling
CAC
At least, I hope, it would be a Pop 1, but what if the OTHER coin was graded higher? Would you carry it to trying and make it a P01?
What if there was a struck through wire embedded in it?
ErrorsonCoins would salivate.
No, because it will have proven how desperate our nation has become.
I put "none of the above" for the same reason. Same answer, though
Prior to the one legal example being monetized, the specimens in the Smithsonian were still collectable despite being out of reach.
This is a joke right! Who would want such a coin?? Where could you cash it to get real money to buy real coins??
If one wants to look at a "Trillion Dollar" coin... or note... we could look to Zimbabwe. But enduring 1000+% inflation for years on end... corruption.... etc...
But anyway, it looks like a "trillion dollar" collectible could be had for a lot less!
https://www.ebay.com/i/163879967826?chn=ps&norover=1&mkevt=1&mkrid=711-117182-37290-0&mkcid=2&itemid=163879967826&targetid=883666369579&device=c&mktype=pla&googleloc=9007898&poi=&campaignid=9426322714&mkgroupid=95066757065&rlsatarget=aud-622524042958:pla-883666369579&abcId=1141016&merchantid=138368723&gclid=Cj0KCQjw6_vzBRCIARIsAOs54z5mSU88ruWJYpHWBCFHuoyzX_uddGAdVohbA5c4wzwltL_veeHedU0aAlUxEALw_wcB
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You're selling it short. That's not a Trillion dollar note, that's 100 Trillion Dollars!
It is not a feasible concept...the value, if minted, would only be signatory as a promissory transfer item...and financial transfers are far beyond this level. Even bulk gold is kept in storage, and, for the most part, record of ownership and transfer is electronically maintained. Such a coin is fun to discuss but practicality vanished long ago. Cheers, RickO
Don't feel bad, most people have no clue how to imagine a billion dollars, much less a trillion.
Someone I know once said a 100 million is equal to 1 billion...
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