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<p>[QUOTE=&quot;PyrotekNX, post: 84950, member: 3918&quot;]Those coins will never be worth less than it&#039;s bullion value.&nbsp; You pay almost 3x as much for a proof American Eagle which has the same exact silver content.&nbsp; A FRN for all intensitive purposes is worth nothing more than what the paper it&#039;s printed on.&nbsp; FRNs have no other use than to be fiat money.&nbsp; Silver on the other hand is a very useful metal, ti can be crafted into many things like jewelery for example.</p><p><br /></p><p>Basically, yes this is a bullion coin, but this is how the majority of coins were in the 19th century.&nbsp; Coinage was valued based on it&#039;s gold or silver content of the time.&nbsp; A heavily worn silver coin back then would be worth nothing more than it&#039;s weight in silver, it would be actually worth less than face value of enough silver was worn off or ground off.</p><p><br /></p><p>Even if Liberty Dollars don&#039;t catch on, they are still a great idea.&nbsp; These coins are designed to be inflation proof.&nbsp; With fractional banking, you will always have inflation.&nbsp; The inflation will continue until the system collapses.&nbsp; This is the very nature of the current banking system.</p><p><br /></p><p>I heard about these coins about 5 years ago and I finally bought a couple.&nbsp; They really aren&#039;t any different than a silver round.&nbsp; It&#039;s not a scam, there is about $8 worth of silver in the coin.&nbsp; How much silver is in the rest of American coins?&nbsp; How much silver or gold is in a FRN?</p><p><br /></p><p>The only real difference in the liberty dollar compared to a regular issue coin is that these coins do not bear a date or mintmark.&nbsp; I believe this was done to discourage hoarding of a specific coin and charging more for it based on it&#039;s numismatic value.</p><p><br /></p><p>People have been collecting coins for millennia.&nbsp; The entire numismatic market for started to collect all the different types of coins that were made.&nbsp; If the mint stuck with a design and didn&#039;t change it, then there wouldn&#039;t be so many problems now.&nbsp; It is essential that only a certain amount of money is circulated per person.&nbsp; If there are too many coins in circulation, it could cause inflation.&nbsp; If there aren&#039;t enough, it will cause a deficit and eventually a depression.</p><p><br /></p><p>Older coins, especially cents show much more wear than they would today because there was less in circulation and it was passed much more often.&nbsp; Today cents are barely used, many people just throw them away (donate) or toss them in a jar at home and never spend them because they really aren&#039;t worth much today.</p><p><br /></p><p>For an economic system to work properly, the money in circulation should stay in circulation for the entire lifespan of the coin.&nbsp; The US Mint made a mistake by having different strikes, designs, dates and mintmarks on the coins.&nbsp; All of these things encourage hoarding.&nbsp; When people hoard currency, it does effect the economy.&nbsp; The director of the mint does not want a coin shortage so enough coins are minted to cover that aspect.</p><p><br /></p><p>As soon as silver and gold were demonitized, inflation shot sky high.&nbsp; Gold prices shot up 10 fold when the govt seized it all in 1933.&nbsp; After then it was not legal to mint gold coins for legal tender and for a while it was illegal to hoard any amount of gold.&nbsp; The same thing was done for silver as well, people actually came into your house and paid you the spot prices for these precious metals.&nbsp; Silver was very plentiful in this country before that happened.&nbsp; The mint made 1964 silver coins until 1966 to try to cover the fact that people were hoarding silver.&nbsp; The 70&#039;s was a time where inflation was at it&#039;s worst in US history.&nbsp; This was because there was no longer anything to back it up.</p><p><br /></p><p>Many people to this day believe that Fort Knox is where the gold is stored to back up our FRN.&nbsp; This is simply not true at all.&nbsp; There isn&#039;t any gold left at Fort Knox.&nbsp; The gold was actually laundered through foreign banks and it is now in the basement of the Federal Reserve building in NYC.&nbsp; Fort Knox was just a temporary storage tank for the gold.&nbsp; It was melted down and poured into ingots, then the majority was secretly moved to New York.</p><p><br /></p><p>Over 90% of the world&#039;s gold is controlled by a very small group of people.&nbsp; This is why the price of gold today is so high.[/QUOTE]</p><p><br /></p>

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