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Utah to vote on adding gold and silver to a recongnized currency
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<p>[QUOTE="Cloudsweeper99, post: 1118360, member: 3011"]In the highly unlikely event that the government ever decides to mint silver coins for circulation, it would be more likely that it would either be a large denomination coin [perhaps a half dollar size $20 coin]. Or they could do what was proposed [but rejected] in Mexico -- to produce a silver coin with no printed face value that where (1) the value would be periodically set by the government, (2) the value would always be a premium to melt value to prevent melting, and (3) the face value could never be reduced. I find this proposal highly interesting for reintroducing silver coinage to circulation. Some people criticize this proposal saying that people won't accept the coin if the melt value is below face, but this isn't true because people accept coinage and paper money where the intrinsic value is below face all of the time. But this would restore at least some intrinsic value to money and offer some protection from inflation.</p><p><br /></p><p>But to be very clear, I don't expect to ever see this happen.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 1118360, member: 3011"]In the highly unlikely event that the government ever decides to mint silver coins for circulation, it would be more likely that it would either be a large denomination coin [perhaps a half dollar size $20 coin]. Or they could do what was proposed [but rejected] in Mexico -- to produce a silver coin with no printed face value that where (1) the value would be periodically set by the government, (2) the value would always be a premium to melt value to prevent melting, and (3) the face value could never be reduced. I find this proposal highly interesting for reintroducing silver coinage to circulation. Some people criticize this proposal saying that people won't accept the coin if the melt value is below face, but this isn't true because people accept coinage and paper money where the intrinsic value is below face all of the time. But this would restore at least some intrinsic value to money and offer some protection from inflation. But to be very clear, I don't expect to ever see this happen.[/QUOTE]
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Utah to vote on adding gold and silver to a recongnized currency
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