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<p>[QUOTE=&quot;Numis-addict, post: 1867275, member: 35784&quot;]It was all hypothetical, but according to wikipedia the idea appeared during the 2011 budget crisis. It gained more traction during the 2012 fiscal cliffs talk, up until it finally made headlines. The basis of the idea is that since there are no laws dictating what denominations platinum bullion must be minted in, the mint could take any amount of platinum and strike it into a 1 trillion dollar coin. If my understanding is correct, the coins were never meant to be used to pay off the whole debt, as doing such would be instant hyperinflation, which in turn would have major and likely negative effects on the US economy. However, the coins could have been used to eliminate the debt the US has to the Federal Reserve Bank. This debt is close to 2 trillion dollars and is also sort of useless. The platinum coins would have given the country the ability to erase this debt without abolishing the federal reserve. This would have dropped the debt well below the debt ceiling of the time, thus putting off the crisis for another year or two. However, the situation is deeply wrapped up in politics, so it is dangerous to talk about. Either way, the idea was ultimately rejected, though the next time the debt ceiling is hit the hypothetical coins might have a resurgence of sorts.[/QUOTE]</p><p><br /></p>

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