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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
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frugalcanuck
Penny Pincher Member
Canada
103 Posts |
Posted - 08/11/2010 : 14:11:41
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| They are afraid of what people might think if there are fake coins as it might cause their value to go down. What about the countrie's debt? Shouldnt that lower the value? |
One box of Nickels
11.65% .999 Ni |
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Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 08/11/2010 : 19:29:45
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Its interesting to read about this. I have read that Britain has had this problem for a long time, but now it has gotten worse. Its funny because countries with high value coins like British pound coins, 2 and 5 Swiss Franc Coins, and 500 Yen coins have and are exposed to counterfeiting. Wonder how people would react if that percent of quarters or Dollar bills were fake.
Faking coins here is unimaginable.Either our coins metal is more than face or not high enough face value to fake- .25 is the highest coin we use the most in transactions! |
Robber Baron= Robarons |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 08/11/2010 : 19:39:14
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Your dollar bills are fake, but that is another story.
There are counterfeit $2 in Canada. I run across them at least once per week. |
www.londongoldbuyer.com |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 08/11/2010 : 20:10:24
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Did anyone read on Coinflation about how the Fed is stockpiling over $1 billion worth of Presidential and Sacagewea dollars? There are several reasons they could be doing that I can think of;
-possible re-traction of the one dollar note in the future
-in hyperinflation, a dollar coin will be more like a quarter is today, so they will be used much more as current small denomination coins are called in or melted illegaly
-when they go to a new or revalued currency, the paper money will go obsolete, but the coins will remain valid, thus a stockpile of $1 coins will fill the gap for small transactions as the new paper money is printed and sent out.
-they are merely incompetent and made a bunch of coins that they can't pawn off on anyone
-the Fed does not want them to circulate because that is seniorage going to the Treasury instead of them
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And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
 Posted - 08/11/2010 : 21:34:27
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quote:
Originally posted by AGgressive Metal -they are merely incompetent
Whichever scenario it is, this is still true... |
Come to the new and improved realcent: http://realcent.org
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 08/11/2010 : 21:55:25
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| I'm going with incompetant, but I like to speculate. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Fake British Coins Could Cause Reissue
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