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Who is in for the Mint's new trillion dollar coin?
DCW
Posts: 7,821 ✭✭✭✭✭
Any deep pocketed collectors in for this bad boy? Hansen?
Getting more and more like Zimbabwe every day
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
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If they offer a two coin set in proof and reverse proof I will order the household limit.
I will take two also so I can leave one to each child. 😏
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.
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...
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
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.
Now do you need a helicopter to get First Strike Designation
?
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I'll take "Stupid Things The Government Does" for a trillion, Alex.
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
All comments reflect the opinion of the author, even when irrefutably accurate.
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
It's no more or less stupid than printing $1 trillion in treasuries which the Fed buys.
All comments reflect the opinion of the author, even when irrefutably accurate.
Scrooge McDuck
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.
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.