ECON Trillion-dollar Platinum Coin Could be Minted at the Last Minute (OP 10/21)

Publius

TB Fanatic
Right now Platinum is $1,044.12 per-ounce and they are not going to make an over size coin and with that no one in their right mind is going except a one ounce platinum coin and being told it's worth a trillion U.S. dollars just because it's says so on it's face does not mean it's worth that much.
 

BadMedicine

Would *I* Lie???
One cannot “use” such a coin in any manner until someone buys it. Who’s going to buy it?
The Fed "buys" it. Then we owe them $1trillion more, which is all the debt-creators wanted... 6 months or so more time...

The fed "accepts" it as sayng we will "one day repay them"... which is the same farcicle situ that put us in unpayable debt to the fed to begin with in 1913.... the difference now is, the US is so leveraged, much owed to the fed, and their VERY SCHEME AND HEATBEAT DEPENDING ON IT, they MUST accept it and keep whatever floats afloat as long as possible.... gotta get all the last minute fleecing in. But of course it is just another 'debt swap' to make it appear for the 'small players' there is still 'real money' in the game.
 

Ractivist

Pride comes before the fall.....Pride month ended.
Fools, should print a thousand, billion dollar blanks, so it can be spread like junk silver.... remember this down the road when barter comes in...unless Doz's numbers are more accurate, and they start printing trillions of trillion dollar blanks.
 

Dobbin

Faithful Steed
Fools, should print a thousand, billion dollar blanks, so it can be spread like junk silver.... remember this down the road when barter comes in...unless Doz's numbers are more accurate, and they start printing trillions of trillion dollar blanks.
Dollar bills with the "value" spot left un-filled. YOu get to fill in your own amount.

I can see "reparations" being paid using this money.

Basically we're at the point where ANYTHING Congress spends is paid for with this kind of dollar.

Dobbin
 

raven

TB Fanatic
Probably should think more along the lines of a Platinum Fentanyl Brick.
That could actually be worth something.
 

To-late

Membership Revoked
“How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce Platinum Eagle and has no shortage of platinum blanks already in stock.
  • Producing a trillion-dollar Eagle would require only the denomination to be changed. "This could be quickly executed on the existing plaster mold of the Platinum Eagle," says Diehl. Then an automated process would transfer the new design to a plastic resin mold.
Voila, we'd have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation," says Diehl.”.

sooooo, if I scratch out the 1cent on a penny and engrave a million dollars, I’ll be rich?
is that how it works?
if so, I’m rich! Yeaaaaa!
 

tanstaafl

Has No Life - Lives on TB
The most expensive numismatic metal is rhodium. By a huge margin.

Someone makes coins out of rhodium? I've seen it on Kitco lumped with silver, gold, platinum, and palladium, but I don't recall any real numbers of collectable rhodium coins. Maybe it's being sold in bullion rounds and bars?
 

Dennis Olson

Chief Curmudgeon
_______________
There are many search engines out there. Try one. Two second search:

 

Tristan

Has No Life - Lives on TB
If they're going to do that, they should just make a platinum (or rhodium, or whatever) Centillion dollar coin.

(A Centillion being 1x10^303 or 10^600, depending on short or long scale)

That way, they won't have to bother minting another for a good while!


(coupla months, at the very least...)
 

Tristan

Has No Life - Lives on TB
“How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce Platinum Eagle and has no shortage of platinum blanks already in stock.
  • Producing a trillion-dollar Eagle would require only the denomination to be changed. "This could be quickly executed on the existing plaster mold of the Platinum Eagle," says Diehl. Then an automated process would transfer the new design to a plastic resin mold.
Voila, we'd have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation," says Diehl.”.

sooooo, if I scratch out the 1cent on a penny and engrave a million dollars, I’ll be rich?
is that how it works?
if so, I’m rich! Yeaaaaa!


Gotta remember, It's good to be King.
 

West

Senior
Current rhodium price is $12,400 per Troy ounce
I feel stimulated just thinking about having a Rhodium coin!

:D

Here's a interesting piece....


I like the UNESCO coin the best but, don't have the funds or energy available to get one.

But if I was stimulated to get one.... yeah....
 

Griz3752

Retired, practising Curmudgeon
Trillion-dollar platinum coin could be minted at the last minute


1633434245808.jpg


A trillion-dollar platinum coin could be minted "within hours of the Treasury Secretary's decision to do so," Philip Diehl, former director of the United States Mint, tells Axios.

Why it matters: Congressional solutions to the debt-ceiling problem could take weeks to implement, especially if the reconciliation process is used — and time is running out. In case of emergency, a trillion-dollar coin could be deployed to bridge any gap between the money running out and the debt ceiling being raised.

How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce Platinum Eagle and has no shortage of platinum blanks already in stock.
  • Producing a trillion-dollar Eagle would require only the denomination to be changed. "This could be quickly executed on the existing plaster mold of the Platinum Eagle," says Diehl. Then an automated process would transfer the new design to a plastic resin mold.
Even if Janet Yellen, the Treasury secretary, has no intention of minting such a coin, there is no reason for her not to quietly instruct the Mint director to take those steps a day or two in advance.
  • At that point, a coin could be struck in minutes at the West Point mint. Even if it then needed to be physically deposited at the New York Fed, that's only a short helicopter ride away.
"Voila, we'd have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation," says Diehl.
Is there a Fractional Ownership Syndicate in place?

Just curious .. .. .. ..
 

tanstaafl

Has No Life - Lives on TB
There are many search engines out there. Try one. Two second search:


Ah, I see, collectable coins with trace amounts of rhodium. I was thinking pure rhodium and had never heard of such a thing, but at the price of rhodium that's way above my standard of living and it would be easy enough for me to not hear of it. Kind of reminds me of a medal I bought that claimed it contained metal from "a Soviet spacecraft actually flown in space" and the American commemorative medallion for the 30th anniversary of the lunar landing that claimed it contained metal from the Apollo 11 Eagle module. I suspect it all depends on who is creating the definition of "trace."
 

tanstaafl

Has No Life - Lives on TB
.999 rhodium coin:


Thanks! That's cool to know! I think it was the Cook Islands that issued coins with tiny bits of meteorite in them, seeing as how yesterday's near miss was something of a forum topic. I have a one troy ounce blob of iridium that looks very much like the blobs of rhodium in one of the pictures above. Oddly enough the vast majority of pure elements look either silver or gray, with other colors, like copper and gold, being mighty scarce. I like to think my iridium blob contains at least some atoms from the massive meteorite impact that helped do in the dinosaurs, although I've never been able to find anything that says the K/T Boundary is (or ever was) being commercially mined for iridium.
 
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