New dollar coins--In God We Trust?

[skalenfehl]

Just thought I'd share this since it was on one of the random polls. The coins will have "edge-incused inscriptions" of the year of minting or issuance, "E Pluribus Unum," "In God We Trust" and the mint mark.

New Dollar Coin Omits 'In God We Trust' - Netlore Archive

$1 coin

[Flyonthewall]

I would like to get back to the dollar coins. As a kid, I liked the big silver dollars of the 60's & 70's, but I don't think I would appreciate them today. I do like the smaller ones of today, and I would definately use them.

[skalenfehl]

I never did hang on to my Susan B. Anthonys or the Sacagaweas.

[Flyonthewall]

I think the presidential theme may spark more interest than those two series...we'll see.

[JohnBirchSociety]

Just thought I'd share this since it was on one of the random polls. The coins will have "edge-incused inscriptions" of the year of minting or issuance, "E Pluribus Unum," "In God We Trust" and the mint mark.

New Dollar Coin Omits 'In God We Trust' - Netlore Archive

$1 coin

I'm not entirely concerned about the "In God We Trust" inscriptions on coins, which is a recent thing in any event.

I'm more concerned with coins that have no value (other than artistic).

I'm concerned with my Country not having any substantial real money. I'm concerned with my Country having paper money that can so easily (as is happening right before our eyes) be manipulated.

If we are to save our nation's financial security for ourselves and our children, we must return to real, sound money, as demanded by our divine constitution.

Money is defined as:

1) Easily divisible

2) Relatively Scarce

3) Having intrinsic value

4) Durable

Federal Reserve Notes only qualify in the first sense and are not money as demanded by the Constitution.

If we had real money, it could not be manipulated so easily, and, by nature its' value would increase over time, rather than decrease as does the Federal Reserve Note.

Give us real money....

[skalenfehl]

We could always just go back to trading goods and services. I do this a lot in my trade. It works out nicely.

[JohnBirchSociety]

We could always just go back to trading goods and services. I do this a lot in my trade. It works out nicely.

Most likely, when the Federal Reserve Note completely collapses in value (which is unavoidable with a "Fiat" currency), there will be a return to barter.

Barter will be more easily facilitated over time with real money. That's why my family is gradually buying American Silver Eagles. 99.99% Silver, US Minted, Legal Tender real "Dollar" coins, along with establishing a good storage program.

This could be avoided if by some miracle we'd return to Constitutionally sound money, aka, Gold or Silver coin, minted by Congress.

[a-train]

I'm more concerned about the ommision of intrinsic value than the text on the coin.

The melt value of those Presidential 'dollars' (as if they were dollars) is only .061 Federal reserve notes.

These coins have a melt value of almost 18 Federal reserve notes. The new Presidential dollars have only three tenths of one percent of the intrinsic value of the real silver American Eagles still available from the mint.

If indeed it is God we trust and not the Federal Reserve board, then we will allow Him to regulate the availibility of our money and not a secretive group of men.

-a-train

[JohnBirchSociety]

I'm more concerned about the ommision of intrinsic value than the text on the coin.

The melt value of those Presidential 'dollars' (as if they were dollars) is only .061 Federal reserve notes.

These coins have a melt value of almost 18 Federal reserve notes. The new Presidential dollars have only three tenths of one percent of the intrinsic value of the real silver American Eagles still available from the mint.

If indeed it is God we trust and not the Federal Reserve board, then we will allow Him to regulate the availibility of our money and not a secretive group of men.

-a-train

Silver Eagles are beautiful coins.

You can get them online (depending on the spot "price" to paper "dollars") for about 22-25 Federal Reserve Notes.

Hopefully by the end of the year we'll have nearly 200 ounces...

[a-train]

There is a great local coin dealer that sells for cash straight up. Discrete.

I am not converting FRNs to bullion right now. I think bullion prices in FRNs will still fall a lot more before hitting bottom.

-a-train

[WANDERER]

I believe that coins that were actually worth their value disappeared as common currency due to an illegal practice called 'sweating'. Wear and tear had a similar effect. Debasing the coinage wasn't helpful. Not sure whether it would work in practice.

[skalenfehl]

That is a beautiful coin. A long time ago a tool supplier was offering silver coins as a reward for buying so much in tools and supplies each month. I ended up earning two and have had them ever since.

If I can ever get my finances in order, I may start collecting silver coins or just start buying silver and gold.

[a-train]

I believe that coins that were actually worth their value disappeared as common currency due to an illegal practice called 'sweating'. Wear and tear had a similar effect. Debasing the coinage wasn't helpful. Not sure whether it would work in practice.

Although this is certainly an issue, it is nothing compared to what we deal with now. 'Sweating' may take some value out of particular coins, but the inflation tax is eating large chunks away from the value of the whole currency at a rate no conventional criminals could touch. We aren't talking about your average street thugs. We are talking about the real criminals, the criminals in D.C.

'Sweating' is a process of placing silver coinage in a bag and shaking it vigorously. A silver dust would be produced by the collisions of the coins in the bag which is collected and melted into bars.

'Clipping' is the act of trimming fine slivers from the edges of the coin. The reeds, text, or design on the outer edges of the coin, formed by the collar the planchet is placed in while struck, will easily reveal such efforts.

The passing of counterfeit bills is not only typically easier to do, but the difference in value is much more damaging. If 5-10% of the value of a coin was clipped, it would become noticeable. The person accepting the clipped or sweated coin is still getting 90% or more of the value.

Someone taking a fake $100 bill may be getting a $5 bill, or maybe even nothing.

You guys seen the new $5 Bills?

The old fives have totally been compromised. Counterfeiters have learned how to bleach all the ink from the bill and reprint it as a $20, $50, or $100. Such bills will retain watermarks and will pass an iodine pen test because the bill is real, just not the denomination indicated.

Only a more scrutinizing cashier will notice that the portrait in the watermark is Lincoln, rather than Jackson, Grant, or Franklin. Bills like these easily pass cashiers moving quickly serving a large line.

This new $5 bill features watermarks that simply feature the number '5'. This will quickly demonstrate that the bill was of that denomination when printed by the mint.

Imagine the large scale of efforts and the labor involved in sweating coins. It is doubtful that a man could make any real living doing it. He could get a real job that would pay more quite easily. But, counterfeiting paper bills and phony checks has proven to be extremely profitable for those who get away with it. Just ask your local Congressman.

-a-train

[a-train]

Skalenfehl,

Who made those coins? I don't recognize them.

-a-train

[skalenfehl]

Honestly, I don't know. I might be able to find out.

[JohnBirchSociety]

I believe that coins that were actually worth their value disappeared as common currency due to an illegal practice called 'sweating'. Wear and tear had a similar effect. Debasing the coinage wasn't helpful. Not sure whether it would work in practice.

It worked great for 125years.

Then the banking interests finally got their dream of being able to create "money" out of thin air through the use of Federal Reserve Notes.

It has been down-hill since then.

The Gold / Silver Standard is inspired by GOD, who inspired the Framers of the Constitution to make it quite clear that Americans were to have real money, not paper "fiat".