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The Wizard of Oz and the Crime of '73
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<p>[QUOTE="GDJMSP, post: 629759, member: 112"]A bit off topic to the subject, but pertinent to the paragraph above - </p><p><br /></p><p>Few people are aware of it, but since the inception of the US Mint people have always been able to bring silver and or gold to the mint and have the mint turn that metal into coins for them. In fact, it was precisely this method which was the source of most of our early coins for decades. And it is still possible even today.</p><p><br /></p><p>The one difference from what Bryan wanted is that the mint will not do this for free because of the associated costs of doing so. They will keep enough of the silver or gold to cover their costs. This was the way that mints world wide obtained precious metals for their coins for thousands of years. And it is where the term seniorage comes from.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 629759, member: 112"]A bit off topic to the subject, but pertinent to the paragraph above - Few people are aware of it, but since the inception of the US Mint people have always been able to bring silver and or gold to the mint and have the mint turn that metal into coins for them. In fact, it was precisely this method which was the source of most of our early coins for decades. And it is still possible even today. The one difference from what Bryan wanted is that the mint will not do this for free because of the associated costs of doing so. They will keep enough of the silver or gold to cover their costs. This was the way that mints world wide obtained precious metals for their coins for thousands of years. And it is where the term seniorage comes from.[/QUOTE]
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