Supply and Demand states that Silver must rise in the long term?

For 19 years this "territorial small refiner" was the only mint producing coins from the only source of gold in the USA. The Charlotte gold strike along with the one in Dalton, GA, were the only sources for gold in the USA until gold was discovered in California 50 years later and Bechtler was the only mint producing coins from these huge strikes. The NC and GA gold, funded much of the expansion of the USA between 1800 and 1849. You might try to dismiss this as nothing, but history says otherwise.

If it wasn't for Bechtler, then two decades of commerce would not have been possible because there would have been no coinage. It absolutely demonstrates that governmental endorsement of PM coins is not necessary or needed. It's an assay. Nothing more, nothing less.

Your comment about the invention of the coin is irrelevant as it was never said that coins were not important. The point isn't about coinage but rather governmental issuance of coinage. It only becomes important once government passes laws making anything else but governmental currency illegal, and unnatural and harmful situation, as we have today. People living in contemporary times should take care not to attribute their experience to those of the past. This is often done with money, but this is because they have never known anything else.

 

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I need to open up my history books then. I was unaware that the US did not strike gold coinage from 1800 to 1849 and that Bechtler gold was the only source of gold for the US. Also, I was unaware that only gold can equal profit to fund westward expansion, silly me I thought the tobacco, cotton, and NE merchandise this country was producing and exporting around the world was giving us a profit. Gold coins would simply be a representation of that profit, not the profit in and of itself.

Btw I know about SE US gold, and my grandfather lived in Dahlonega for a time being. Its very true though that its a tale not known enough in the US.

 

I said 19 years. Bechtler's mint opened 19 years before the US mint opened in Charlotte. It's printed several times in the info that I posted above. Maybe you will do the favor and read it.

For close to 2 decades, these coins proved, beyond the shadow of a doubt, that governmental issuance of coins were not necessary. Private commerce does not need it and in fact flourishes without it.

 

I was being facetious. No US minted coins were made then?

To say private commerce does better without governmental coins is simply rewriting the past.

 

Indeed. This is why I've mostly concluded that debating a topic with you is a waste of my time. You persist with these pointless questions and personal anecdotes as proof. However in hopes that I am wrong, I will try and answer your questions. On item 1, the US Mint was created in 1792 where the $ was defined in grains of silver and they of course minted silver coinage. They were also authorized to mint gold $s out of bullion brought in by people who wanted it coined. They provided this service free of charge. As I've said many times above, it was a government assay. Nothing more, nothing less. This has been mentioned many times directly to you on this forum so I can conclude there is only one reason you ask such a question.

On your second point, you are offering nothing but an opinion here. When presented with evidence to the contrary, you first characterized it as nothing more than the efforts of a small territorial mint (all mints were territorial in those days, luv) then when shown this was wrong, you simply state that it's rewriting the past. This along with several attempts to get me to state something that is historically incorrect really does us a disservice. Believe what you wish, but it does prove what you stated above, that is that government's imbue coins with some sort of special, but which can't be put into words, special properties, is simply wrong.

 

First, I have no idea where your "pointless questions and personal anecdotes" attacks come from. What "personal anecdote" did I talk about here? This is one of your favorite lies and accusations to post here. Show it to us, show me the personal anecdote I mentioned on this thread. As to "pointless questions", I ask questions about "facts" people use here to craft their argument.

My POINT was the US was making coinage in FAR FAR FAR larger numbers than any territorial mint, so how could that mint, with its limited mintage and small circulation area, prove anything I don't even care about the point much. However, to say that government mark of value is simply a "convenient assay" is to ignore the importance of coinage in world history. Its showing your ignorance that this is the last critical part that was achieved in human history to truly achieve coinage, which has freed commerce up from interminable time wasted in assaying metal, weighing every piece of metal for every transaction, prevented fraudulent scales from stealing from people, and generally led to a huge boom in our ability to transact business.

For someone on a coin forum to truly be that ignorant of the importance of coinage is scary.

Please know that I will continue to call out any misinformation I see posted. I know you would love it if anyone who disagree with you to simply stay silent, and to bow down to your infinite wisdom, but believe it or not most human beings are wrong from time to time.

 

You said this:

On the first paragraph, the Bechtler mint absolutely proves this notion wrong. The only guarantee that you can state, when pushed to give it, is that it is a government assay. On the second point, I've proven this beyond the shadow of a doubt. In the conversations prior to this you inferred numerous times that governments imbue coins with some sort of properties else it was useless in a modern economy. Yet, non governmental coins were used for decades during one of the periods of greatest economic growth of the USA.

You were not speaking from facts, but rather assumptions. You didn't even read what was posted so I assume you don't really have any interest in it either, but for everyone else it's clear that when people use gold and silver coins, it isn't who issued it that matters, but instead it's the value of the metal itself.

 

If a person was not an assayer themsleves , then the issuer of the coin/token certainly mattered. Many non-governmental gold coin/tokens were severely underweight and content. The popularity of cetain issuers was due to accuracy of the content and value stamped on the "token", so it did matter to the end user.

 

I agree with this completely. However the one receiving the coin always has the duty to make an assessment on whether the coin is real or not, underweight, or altered in other manners to make it appear as something else. If one receives a coin that may look as if it came from the government, it still may very well be fake. Caveat emptor. We even have mints today, which produce coins that suggest one is getting a $2000 government issued coin for $19.99 all with apparently full approval of governmental teevee regulators.

 

Of course I am familiar with Austrian economics. If you are conservative... I am borderline doomsday. I do not believe in any form of market manipulation weather it be interest rates or quantitative easing. Furthermore I believe the entire "New Deal" would have been a giant failure if it were'nt for the onset of WW2.