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<p>[QUOTE=&quot;NorthKorea, post: 1733549, member: 29643&quot;]Okay... Let&#039;s start by deciding on a working definition for the word <b>monopoly</b>. </p><p><br /></p><p>A monopoly is not a business that produces a good that no other business produces. If it were, Apple would have a monopoly on the iPhone and Samsung would have a monopoly on the Galaxy. A monopoly is an entity that controls the supply of a commodity good. In the case of the US Mint, a monopoly would exist if we had a nationalized mining company that was the sole provider of metals to be used in US coins.</p><p><br /></p><p>That said, there is a monopsony of sorts in work. After all, the US government (through the Federal Reserve) is the primary purchaser of US Mint coins and BEP notes. The Fed only purchases from these two entities. There is nothing in US law preventing the establishment of a monopsony.</p><p><br /></p><p>There is no anti-trust issue, as the US government does not prevent the minting of metal content based rounds. It merely prevents the passing off of said rounds as US backed currency or legal tender. The definition of legal tender is controlled by Congress. It&#039;s not controlled by the US Mint nor the BEP. Those two entities are merely allowed leverage on the design of their products. The products are required to meet certain manufacturing designations (content &amp; denomination), just as any contracted good would be required to meet specifications.</p><p><br /></p><p>Also, the US Mint doesn&#039;t even hold a monopoly on the goods it produces. This is due to the establishment of the dealer network that the US Mint sells the coins to. Those dealers, for the most part, then determine pricing for the secondary market. You are never forced to buy coins directly from the US Mint. You can always purchase them from eBay, Amazon, Cointalk or any number of entities.</p><p><br /></p><p>This is almost as bad as my friend who complained that Servco has a monopoly on Toyotas in Hawaii. I told her that Servco has nothing remotely resembling a monopoly. You can always buy a Honda, a Nissan, a Ford, a GM, a Lotus, a BMW, a Volvo, a Cooper, a Daimler or any other number of vehicles on the market.[/QUOTE]</p><p><br /></p>

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