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Silver & Gold As Legal Tender

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Pillar of the Community
oblakavshtanax's Avatar
United States
757 Posts
 Posted 03/20/2011  02:10 am  Show Profile   Bookmark this reply Add oblakavshtanax to your friends list Get a Link to this Reply
silver, I am aware of pesos being accepted along the border (on the US side) and, aside from that, I certainly wouldn't be surprised to find that euros were being accepted in the US. just another sign that our currency is crumbling and will soon no longer be the reserve.
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Silverhawk74's Avatar
United States
3670 Posts
 Posted 03/20/2011  02:30 am  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
Ever heard of Berkshares (from a little area up in Umass country), guess what legal currency since 2006, not US currency?
Edited by Silverhawk74
03/20/2011 02:33 am
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Ed_B's Avatar
United States
4008 Posts
 Posted 04/04/2011  02:01 am  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
I believe that the US Constitution reserves the right to "coin money" to the federal government alone. They did not want 13 individual states continuing to print their own money or the hassles of trying to figure out exactly what each state's money was really worth in relation to the money of other states.

As to the states... there is nothing whatever preventing them from minting scenic state "medallions" from copper or brass, silver, and gold in 1/10, 1/4, 1/2, and 1 oz. sizes. If their residents choose to use these, uh, commerative pieces, as money, well, no one would be stopping them. Note that none of these medallions would have any dollar value on them, just the values for metal, weight, and purity.
Prices for goods and services could be listed in metals and weights instead of dollars. "Want a 100 lb. bag of grain, sir? That'll be 1.75 ounces of silver"... or whatever would be fair in that market.

In the case of Utah and their recent law about gold and silver US coins being used as money - I bet that a lot of that was so that PM coins could be exchanged without anyone having to pay a sales tax on them or a tax on any profits that resulted. After all, if a gold coin is actually money, there would be no tax on exchanging it for a wad of paper bills or for other coins, right? We do not pay a sales tax now for exchanging one form of money for another... trade two $10 bills for a $20 bill and there is no tax owed.
Rest in Peace
biggfredd's Avatar
United States
9104 Posts
 Posted 06/06/2011  6:05 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
I go into BK and say I wish to trade two money units for two food units.
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