logistics issue on returning to a metal standard

Discussion in 'Economy' started by Baruch Menachem, Aug 10, 2011.

  1. Baruch Menachem
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    Baruch Menachem '

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    What would the size of the coins be?

    Given the inflation over the years, we would have to re scale all the coins to match the metal. Currently, from my best guess, the amount of silver content in the pre 1967 dime is worth more than $3 now. And the amount of silver in the old silver dollars is now worth about $36. Given the bubble in gold right now I don't even want to speculate on the value of the lowest gold coin that would circulate.

    If we would go back to a metal system, what denominations do you think the coins would be?
     
  2. geauxtohell
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    geauxtohell Choose your weapon.

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    Well, that and the fact that our economy is bigger then all the Gold in Ft. Knox.
     
  3. Pepe
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    Pepe Senior Member

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    The US Mint (Government) should simply have silver and gold coins minted by weight and percentage and let the "free market" determine their respective values.

    I personally would go with "Sterling Silver" which is 22 carat (22/24ths) or 92.5% silver or gold.

    These would be in Troy ounces.

    For silver I would mint 1/10th oz, 1/4 oz, 1/2 oz, 1 oz, and 2 oz.

    For gold I would mint 1/20th oz, 1/10th oz, 1/4 oz, 1/2 oz, and 1 oz.

    My two cents.
     
  4. Baruch Menachem
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    Baruch Menachem '

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    I dont' believe the US would mint any gold over 1/4 oz. The US mint currently does not print any bills over $100.

    Because money is going so totally electronic, I doubt there would be a market for a 1 oz coin or a 1/2 oz coin. For some odd cultural reason, Americans don't like carrying lots of metal coinage with them.
     

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