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US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency

 
ISLANDIA

User ID: 8828100
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06/03/2012 11:35 PM

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US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Since the Fed Buy coins from the US Mint

Are these like Treasury notes and perhaps safer if the dollar collapses.

I know this discussion has been around before but I do not remeber any specif conclusions..

[link to www.federalreserve.gov]


Coin
The Federal Reserve's role in coin operations is more limited than its role in currency operations. As the issuing authority for coins, the United States Mint determines annual coin production. The Reserve Banks, however, influence the process by providing the Mint with monthly coin orders and a 12-month rolling coin-order forecast. The Mint transports the coin from its production facilities for circulating coin in Philadelphia and Denver to all of the Reserve Banks and the Reserve Banks' coin terminal locations.

The Reserve Banks distribute new and circulated coin to depository institutions to meet the public's demand. While the Reserve Banks store some coin in their vaults, they also contract with coin terminals to store, process, and distribute coin on behalf of the Federal Reserve. Armored carrier companies generally operate the coin terminals; the coin terminals have improved the efficiency of the coin-distribution system.

Federal Reserve Accounting for Currency and Coin
Federal Reserve notes are liabilities on the Federal Reserve's balance sheet.
These liabilities are collateralized by the assets of the Federal Reserve Banks.

Coin held by the Reserve Banks is an asset on the Federal Reserve's balance sheet and the Federal Reserve buys coin from the Mint at face value. When a depository institution orders and deposits coin from its Reserve Bank, the institution's account balance is adjusted accordingly.

Last Edited by ISLANDIA on 06/03/2012 11:51 PM
Anonymous Coward
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06/03/2012 11:40 PM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
IMO op ant a damn thing safe anymore
ISLANDIA (OP)

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06/03/2012 11:41 PM

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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
I am thinking about getting 5k or more in Coins dollars


Since the fed claims paper money is a liablity... I could not agree with them more.

JUst get a Lot of Susan B. Anthony
RAe
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06/03/2012 11:44 PM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
what a business they have in selling brass coins for $1

better than paper I suppose unless you need to roll a spliff


I'd go with Chinese Pandas
Anonymous Coward
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06/03/2012 11:45 PM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
WHats the best to get and from where?

Silver coins or gold?

Is it best to order online?
Anonymous Coward
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06/03/2012 11:48 PM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Imagine coins made out of tin foil. That's what you've got. Isn't worth anything unless the metal in it is worth something. Look up nickles.
Anonymous Coward
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06/03/2012 11:49 PM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
WHats the best way to buy bullion. Gold and silver
Anonymous Coward
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06/03/2012 11:49 PM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
[link to www.survivalblog.com]
ISLANDIA (OP)

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06/03/2012 11:58 PM

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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
I think you guys ar emissing my point..
If the FED should collapse the US Govt has not.

They are not going to mint all new coins they will destroy the Fed printed dollars. 1 Blue for 10 Green ones


Coins are true Tresuries issued by the US Government.

There is a huge difference
Anonymous Coward
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06/04/2012 12:03 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
It takes a millisecond to produce a paper Dollar note.

OK, OK, it takes some effort; research and development, machinery, paper, ink, and some design effort, too.

Now, how much effort does it take to mine something out of the ground? Don't forget to include all of the above mentioned costs and efforts.

I think I have answered your question; at least in terms of human labor.

Paper Dollar will never be worth anything close to a coin Dollar.

Just my opinion.
Anonymous Coward
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06/04/2012 12:11 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
I think you guys ar emissing my point..
If the FED should collapse the US Govt has not.

They are not going to mint all new coins they will destroy the Fed printed dollars. 1 Blue for 10 Green ones


Coins are true Tresuries issued by the US Government.

There is a huge difference
 Quoting: ISLANDIA


I agree with you. However, the human perception of a failing currency is what causes the lack of confidence, regardless of the materials used in the currency production. That is why people chose silver and gold.
Anonymous Coward
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06/04/2012 12:13 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Permanent Pin

alien16
Therion156
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06/04/2012 12:23 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
The current Constitutional dollars authorized by Congress (Art. I, sec. 8) are the golden & presidential dollars .... Federal Reserve Notes of the paper kind (MZM\MO) & bank electronic credits (bookeeping entries) are eithier credits\debits\debt depending upon your use & standing..... Paper money & bank credits are reliant upon counterparty performance that gives them value, the same may be said of "the current coins," BUT, paper currency in economic real terms does not possess a melt value, while all coinage has SOME intrinsic REAL economic value.... the current face values are designated "fiat" by legislative decree & do not represent the true intrinsic value of the metal composition. The difference in cost of manufacture\minting & face value is known as seignorage..... Lets hope that we dont travel down the path where fiat coins are more valuable than paper, thats real doom. Remember, Congress can by legislative enactment mint $1, $5, $10, $20, $50, $100, $500, $1000, or $10,000 fiat coins.... only states & their political subdivisions @ Art. I sec. 10 are prohibited from "making Anything but Gold & Silver COIN a legal tender for payment of Debt." Congress can payoff the debt at anytime and create a new currency to replace the destroyed currency.....
Anonymous Coward
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06/04/2012 12:30 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Imagine coins made out of tin foil. That's what you've got. Isn't worth anything unless the metal in it is worth something. Look up nickles.
 Quoting: Anonymous Coward 16608702
Anonymous Coward
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06/04/2012 12:36 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
The current Constitutional dollars authorized by Congress (Art. I, sec. 8) are the golden & presidential dollars .... Federal Reserve Notes of the paper kind (MZM\MO) & bank electronic credits (bookeeping entries) are eithier credits\debits\debt depending upon your use & standing..... Paper money & bank credits are reliant upon counterparty performance that gives them value, the same may be said of "the current coins," BUT, paper currency in economic real terms does not possess a melt value, while all coinage has SOME intrinsic REAL economic value.... the current face values are designated "fiat" by legislative decree & do not represent the true intrinsic value of the metal composition. The difference in cost of manufacture\minting & face value is known as seignorage..... Lets hope that we dont travel down the path where fiat coins are more valuable than paper, thats real doom. Remember, Congress can by legislative enactment mint $1, $5, $10, $20, $50, $100, $500, $1000, or $10,000 fiat coins.... only states & their political subdivisions @ Art. I sec. 10 are prohibited from "making Anything but Gold & Silver COIN a legal tender for payment of Debt." Congress can payoff the debt at anytime and create a new currency to replace the destroyed currency.....
 Quoting: Therion156 1502252


Well, that explains it.

Thank You!
Anonymous Coward
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06/04/2012 12:37 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
hf
Spitting Into The Wind

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06/04/2012 12:38 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
I suggest foreign gold and silver coins because they can be seen as collector's items.
MaryAlananB

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06/04/2012 12:49 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
American Silver Eagle 1 dollar 1 ounce coins. [link to en.wikipedia.org]
Therion156
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06/04/2012 12:50 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Indeed " coins are treasuries of the U.S." Minted treasuries..... BUT.....pursuant the Coinage Act of 1789, one dollar is defined as 371 4\16 of .90 fine grains of silver..... and the Act remains in full force and effect today! A fiat dollar coin is a U.S. Treasury as it represents an obligation & liability of the Treasury to redeem in [L]Awful money.... lawful doesnt mean constitutional...... Congress decries whats lawful, the Judiciary decides whats constitutional (see Julliard v. Greenman & Legal Tender Cases etc.). Remember, 1913 Congress licensed & hired the PRIVATE Federal Reserve to circumvent the Constitution..... as a private corporation serving at the pleasure of Congress, the Fed is NOT chained to the organic by-laws contained in the Constitution.... the Fed is a mere private contractor to the gov..... not only are coins Treasuries, but FRN's are also deemed obligations of the United States per U.S. Code.
Anonymous Coward
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06/04/2012 12:50 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
I suggest foreign gold and silver coins because they can be seen as collector's items.
 Quoting: Spitting Into The Wind


American made gold and silver coins can be seen as collectors items overseas.

SmileyWink
Spitting Into The Wind

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06/04/2012 12:57 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
I suggest foreign gold and silver coins because they can be seen as collector's items.
 Quoting: Spitting Into The Wind


American made gold and silver coins can be seen as collectors items overseas.

SmileyWink
 Quoting: Anonymous Coward 13810875


Exactly.
ISLANDIA (OP)

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06/04/2012 08:03 AM

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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Some good stuff here thanks all.
ossbogosley

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06/04/2012 08:11 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Indeed " coins are treasuries of the U.S." Minted treasuries..... BUT.....pursuant the Coinage Act of 1789, one dollar is defined as 371 4\16 of .90 fine grains of silver..... and the Act remains in full force and effect today! A fiat dollar coin is a U.S. Treasury as it represents an obligation & liability of the Treasury to redeem in [L]Awful money.... lawful doesnt mean constitutional...... Congress decries whats lawful, the Judiciary decides whats constitutional (see Julliard v. Greenman & Legal Tender Cases etc.). Remember, 1913 Congress licensed & hired the PRIVATE Federal Reserve to circumvent the Constitution..... as a private corporation serving at the pleasure of Congress, the Fed is NOT chained to the organic by-laws contained in the Constitution.... the Fed is a mere private contractor to the gov..... not only are coins Treasuries, but FRN's are also deemed obligations of the United States per U.S. Code.
 Quoting: Therion156 1502252


Do you redeem your checks, if you get any, in lawful money or do you endorse the fed.?
Don't believe anything, only know it.
No thanks, I've got enough karma.
Anonymous Coward
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06/04/2012 08:28 AM
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Re: US Minted Coins - Is this a safer currency than Federal Reserve Dollars or paper money currency
Sad thing is, if you go to the bank more than a few times asking for rolls of nickels, the FBI comes knocking at your door accusing you of being a terrorist. By labeling you a terrorist, they have the legal authority to confiscate your stash of nickels.

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