Posts Tagged ‘coins’

Assorted currency. Coins and notes

Article I, Section 8 of the U.S. Constitution grants Congress the power to coin money and regulate the value thereof.

On the October 16, 2011 episode of The Progressive Radio News Hour with Stephen Lendman, Ellen Brown, author of Web of Debt, relayed what a former director of the Bureau of Engraving and Printing said in the 1980s (at 13:18):

The government could solve its debt problem by just minting some large coins. That there’s no limit on how many coins they can make, and there’s no limit on the face value of the coin. So today, for example, you could stamp out 15 $1 trillion coins and you’d take care of the debt and you’d have a little money left over. And, a number of economists actually picked up on that, and there’s this whole dicussion out there now about how you could solve the problem with some $1 trillion coins which you would then put in the government’s bank account, basically. So you don’t actually ever spend the coins, but you can draw against them, and it’s a way to create money…

And I wholeheartedly agree with both the constitutionality and simplicity of the proposal.

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Now available at http://www.scotiamocatta.com/eStore

See today’sĀ press release and theirĀ FAQ for more information.

Initial product offering: 5 varieties of gold coins (Canadian Maples from 1/20 oz. to 1 oz.), 7 gold bars (Scotiabank bars from 1/4 oz. to 5 oz.), 1 silver coin (1 oz. Canadian Maple), and 4 silver bars (from 1 oz. to 100 oz.)

Advantages over branch purchases:
– Product and price browsing 24/7
– Can buy from anywhere in Canada and ship to any registered Canadian address
– Can buy from 8:30 a.m. – 5 p.m. EST — an hour earlier and half an hour later than most branches are open on most days
– Can buy in CAD, instead of having to buy in USD

Disadvantages compared to branch visit:
– More limited product inventory
– Can’t buy platinum or palladium products
– Can’t buy gold, silver, or platinum certificates
– Can’t sell
– Have to pay GST and PST (if applicable) on the shipping costs
– Maximum purchase limit of $6000 CAD (excluding taxes, shipping) per 24-hour period
– Slower delivery time — an extra day or two
– Currently only available to Canadian residents

For price comparisons and other online buying options, see Kitco and Bullion Direct. Be sure to compare prices (including taxes and shipping), in Canadian dollars.

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There is a lot of talk these days about all the money the Federal Reserve is allegedly ‘printing’.

From the Federal Reserve’s own words at http://federalreserve.gov/generalinfo/faq/faqcur.htm#1:

“Does the Federal Reserve produce bank notes and coins?
No, the Federal Reserve does not produce bank notes or coins. The Bureau of Engraving and Printing (BEP) produces currency and stamps, and the U.S. Mint produces our nation’s coins. The Federal Reserve issues Federal Reserve notes and places them in circulation.”

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