Market Curiosity: Exploring Markets And Systems

March 8, 2011

US Mint needs help finding stuff worth-less than nothing. Good luck.

Filed under: Editorials — Tags: — Jeff Fitzmyers @ 1:34 pm

Edit: I was hasty in hitting the publish button. There are a number of issues with historical coins.
Bimeatalism — trying to peg gold to silver is unworkable.
– The best units to denominate coins are mass. It’s politically neutral. Gov’s don’t like that though because they don’t get seniorage: $300 million in the 2010 fiscal year.

The best possible thing is to have the gov stay out of the money business altogether because they almost always debase it. It is unsaid, b the US Mint’s request is probably due to the cost of making coins.

For the fiscal year ending, September 30, 2010, the unit cost for the cent was 1.79 cents and the cost of the nickel was 9.22 cents.

Another way of saying this is so much value has been stolen from American’s from the hidden tax of inflation, that the gov has to re-denominate the currency so they can continue stealing.

But, … you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.” – Sir Josiah Stamp, Director of the Bank of England (appointed 1928) and reputed to be the 2nd wealthiest man in England at that time.

End edit.

United States Mint Seeks Public Comment on Factors to be Considered in Research and Evaluation of Potential New Metallic Coinage Materials

The United States Mint is not soliciting suggestions or recommendations on specific metallic coinage materials, and any such suggestions or recommendations will not be considered at this time.

Why would that be? 🙂

The United States Mint seeks public comment only on the factors to be considered in the research and evaluation of potential new metallic coinage materials.

Dear US Mint,

Please consider the following factors:
+ The effect on people’s confidence with the coins.
+ The constitution.
+ The intent of the founding fathers.
+ The usefulness of a sound currency in reigning in those wanting to abuse America’s wealth.
+ Use what works historically.

A 1909-1982 Cent is worth $0.0285.
A 1946-2011 Nickel is worth $0.07.
Yes people are taking these out of circulation because the fed (not federal, nor reserve, only debt) keeps devaluing the federal reserve notes.

Good luck trying to find something worth-less than nothing. And why are you enabling debasement?

All the best, [Marketcuriosity]

March 9: Numismatic News: Mint wants suggestions, or does it?

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