Why new gold and silver coins?

colsen
By colsen on Thu, May 8, 2014 - 11:01pm

Why do governments continue to mint silver and gold coins with a bogus value inscribed on the coins when they can’t be used in ordinary commerce? Any weighed piece of gold or silver would have the same value as a coin. I can see that old silver and gold coins would have numismatic value but new coinage?

3 Comments

royrudy's picture
royrudy
Status: Member (Offline)
Joined: Mar 26 2012
Posts: 1
Why do governments continue.....

The current Federal Reserve Notes will go by the wayside. The "New Money" will be the Silver American Eagle valued at $1 in the "New Dollar", and the Gold American Eagle will be $50. 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1429
Because you can never kill a

Because you can never kill a bureaucracy (i.e. gov't dept).

russiaways's picture
russiaways
Status: Member (Offline)
Joined: Nov 4 2008
Posts: 18
not all bureauracracies alike...

Perhaps the greatest attribute of real free market capitalism is that it allows and indeed requires the destruction of those human organizations (more and more bureaucrat by nature with the growth/success of a business) which fail to deliver value to the end user/customer.  This occurs if their consumption of resources leads to the natural reduction of those inputs by the voluntary withholding of support (end use consumption of supported goods and services) by the total price/purchase choices of consumers. 

On the other hand the same types of organization supported by force, be it government obliged taxes or socially obliged support of religious organization, seem to parasitically outlive their usefulness by orders of magnitude and only die as the result of the catastrophic death of their hosts.  The sooner our species comes to terms with this fatal flaw in our self organization tendencies the quicker we can move beyond many world-wide problems. 

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