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<p>[QUOTE="bruthajoe, post: 3972623, member: 108656"]Here is some interesting info from various sources...</p><p> Treasury Department...</p><p>Federal Reserve Banks fulfill the coin demand of the nation�s</p><p>depository institutions�which include commercial banks, savings and</p><p>loan associations, and credit unions�by ordering new coins from the</p><p>U.S. Mint and managing coins held in inventory at the Reserve Banks and</p><p>in coin terminals. Reliably estimating the demand for coins and</p><p>efficiently managing the inventory of circulated coins is important to</p><p>ensure that depository institutions have enough coins to meet the</p><p>public�s demand and to avoid unnecessary coin production costs...</p><p><a href="https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-401/html/GAOREPORTS-GAO-08-401.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-401/html/GAOREPORTS-GAO-08-401.htm" rel="nofollow">https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-401/html/GAOREPORTS-GAO-08-401.htm</a></p><p><br /></p><p>Wiki...</p><p>Today, circulating coins exist in denominations of 1¢ (i.e. 1 <a href="https://en.m.wikipedia.org/wiki/Cent_(currency)" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Cent_(currency)" rel="nofollow">cent</a> or $0.01), 5¢, 10¢, 25¢, 50¢, and $1.00. Also minted are <a href="https://en.m.wikipedia.org/wiki/Bullion_coin" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Bullion_coin" rel="nofollow">bullion</a> (including <a href="https://en.m.wikipedia.org/wiki/Gold_coin" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Gold_coin" rel="nofollow">gold</a>, <a href="https://en.m.wikipedia.org/wiki/Silver_coin" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Silver_coin" rel="nofollow">silver</a> and <a href="https://en.m.wikipedia.org/wiki/Platinum_coin" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Platinum_coin" rel="nofollow">platinum</a>) and <a href="https://en.m.wikipedia.org/wiki/Commemorative_coin" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Commemorative_coin" rel="nofollow">commemorative</a> coins. All of these are produced by the <a href="https://en.m.wikipedia.org/wiki/United_States_Mint" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/United_States_Mint" rel="nofollow">United States Mint</a>. The coins are then sold to <a href="https://en.m.wikipedia.org/wiki/Federal_Reserve_Bank" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Federal_Reserve_Bank" rel="nofollow">Federal Reserve Banks</a> which in turn are responsible for putting coins into circulation and withdrawing them as demanded by the country's <a href="https://en.m.wikipedia.org/wiki/Economy_of_the_United_States" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://en.m.wikipedia.org/wiki/Economy_of_the_United_States" rel="nofollow">economy</a>.</p><p><br /></p><p><br /></p><p> I'm being led to believe, without legal representation, that when the coins are purchased from the mint by the treasury OR collectors, (note: the treasury distributes their currency to holding facilities called terminals and the treasury uses terminals that are basically remote reserves. A better choice of word than reserves would be buffer), for some reason that is when it becomes real money. But really the only way it could become real money is when it is traded for a service or item and actually becomes part of the economy, which then makes it accountable. I think?? In other words it's only when it's released into circulation that it has become "money".</p><p> But I have not come across anything that says an assay office has the right to distribute money into circulation. Or even the treasury Department itself. It seems that only demand from financial institutions, aka banks, lenders- (dept creators) or repositories can put money into public circulation due to demand only. This might not be true. You might even go so far as to say money is not money until it has been taxed.[/QUOTE]</p><p><br /></p>
[QUOTE="bruthajoe, post: 3972623, member: 108656"]Here is some interesting info from various sources... Treasury Department... Federal Reserve Banks fulfill the coin demand of the nation�s depository institutions�which include commercial banks, savings and loan associations, and credit unions�by ordering new coins from the U.S. Mint and managing coins held in inventory at the Reserve Banks and in coin terminals. Reliably estimating the demand for coins and efficiently managing the inventory of circulated coins is important to ensure that depository institutions have enough coins to meet the public�s demand and to avoid unnecessary coin production costs... [URL]https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-401/html/GAOREPORTS-GAO-08-401.htm[/URL] Wiki... Today, circulating coins exist in denominations of 1¢ (i.e. 1 [URL='https://en.m.wikipedia.org/wiki/Cent_(currency)']cent[/URL] or $0.01), 5¢, 10¢, 25¢, 50¢, and $1.00. Also minted are [URL='https://en.m.wikipedia.org/wiki/Bullion_coin']bullion[/URL] (including [URL='https://en.m.wikipedia.org/wiki/Gold_coin']gold[/URL], [URL='https://en.m.wikipedia.org/wiki/Silver_coin']silver[/URL] and [URL='https://en.m.wikipedia.org/wiki/Platinum_coin']platinum[/URL]) and [URL='https://en.m.wikipedia.org/wiki/Commemorative_coin']commemorative[/URL] coins. All of these are produced by the [URL='https://en.m.wikipedia.org/wiki/United_States_Mint']United States Mint[/URL]. The coins are then sold to [URL='https://en.m.wikipedia.org/wiki/Federal_Reserve_Bank']Federal Reserve Banks[/URL] which in turn are responsible for putting coins into circulation and withdrawing them as demanded by the country's [URL='https://en.m.wikipedia.org/wiki/Economy_of_the_United_States']economy[/URL]. I'm being led to believe, without legal representation, that when the coins are purchased from the mint by the treasury OR collectors, (note: the treasury distributes their currency to holding facilities called terminals and the treasury uses terminals that are basically remote reserves. A better choice of word than reserves would be buffer), for some reason that is when it becomes real money. But really the only way it could become real money is when it is traded for a service or item and actually becomes part of the economy, which then makes it accountable. I think?? In other words it's only when it's released into circulation that it has become "money". But I have not come across anything that says an assay office has the right to distribute money into circulation. Or even the treasury Department itself. It seems that only demand from financial institutions, aka banks, lenders- (dept creators) or repositories can put money into public circulation due to demand only. This might not be true. You might even go so far as to say money is not money until it has been taxed.[/QUOTE]
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