In 1932, the USgovt was making a $20 gold piece with 1 ounce of gold that was worth roughly $20 If the US was still making legal tender silver and gold coins ... Today, our $20 coin would no longer need to be made of gold ... but instead be similar to the old Silver Dollar ... which now contains about $20 worth of silver So in that fantasy world, the Silver Dollar would be our new $20 coin And the old $20 gold piece would have to made smaller to be a surrogate for a $1,000 bill
LOL. Yep. That $1000 note brought back a memory. In the 1970's We were subcontracing for a developer and at a job meeting, he asked everyone to go to lunch. There were 6 of us and when the check came he pulled out the $1000 bill and said, "This is the smallest thing I have, I don't think they can break it here." My brother said "Let me see that !" Then came up with his money clip and gave the guy back 10 $100 bills. Then he told him, "No problem, Thanks for lunch" and we got up and left. Man, that guy was miffed ! LOL I wonder how many free lunches he got by carrying that note around ?
It would be cool to have a $20 silver coin now but the spot price seems way too unstable/unpredictable to do so. TC
The Peace Dollar was a PCGS MS67 that was for sale on ebay about a year ago ... didnt buy it as it was too expensive (I dont remember the exact price but I think it was over $5,000) but i screencaptured it as it was the nicest looking peace dollar i have ever seen
so true ... they would probably have to make it a $50 or $100 coin to give them enough room for the inevitable bullion rise ... and keep people from hoarding them (people would probably still hoard them) They could take the old 1 oz. gold piece and make that a $5,000 coin for the same reason. Wouldn't it be something to have a $5,000 legal tender coin??? You could bring 5 to your local car dealer to buy the latest model.
I don't think that $1000 bills or coins would be used as currency. Most people don't carry that amount of cash. Also people would be worried about losing them. $1000 bills do turn up in literature sometimes. They appear in Dashiell Hammett's The Maltese Falcon and John Steinbeck's East of Eden.
i agree ... a $5000 coin was just a fantasy statement! this country wont even produce a PAPER bill greater than $100 and dollar coins dont even circulate
Most people (including myself) don't carry cash very often anymore. Maybe in a hundred years or so, we'll be collecting rare, or mint state debit cards! Actually, I doubt that, but I have to agree with your statements.
Yes, it is interesting for sure. Speaking of large denominations ... It's kind of hard to believe but as late as 1934 the U.S. was printing $100,000 Gold Certificates. Although i think they were just used for bank to bank transactions. Imagine pulling one of these out of your wallet. I suppose if someone did have one in 1934 and took it to their local bank, they could "demand" 5,000 $20 Gold Pieces. That pile of gold (nearly 5000 ounces) would be worth nearly 7 million dollars in today's prices.
Yes, before everything in this country consisted of using a computer (including money transfers), this was the way banks made transfers. I'm still in favor of this method. I'd love to see some college kid try to hack one of these from his dorm room.
Don't show this to Glen Beck! He might burn it in effigy. LOL! OK, I'm making fun of my man, but i can't help it.
