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Platinum Coins: A Trillion Dollar Blunder

January 11, 2013 in Coins, Money, Platinum Coins, USA Coins

January 10th, 2013 ,Jared Cummans (http://etfdailynews.com)

After the U.S. narrowly avoided the fiscal cliff as 2013 began, many had hoped that the debt ceiling issues would be resolved. But as of the open of 2013, the country stares at a debt pile of more than $16.4 trillion–higher than total GDP. This has led to all sorts of unconventional theories and schemes for getting ourselves out of debt, one of which involves the minting of one or several trillion dollar coins made of platinum.

The Trillion Dollar Coin

There have been some far-fetched ideas for solving debt issues in the past, but this one certainly takes a stab at the top spot. Here’s how it would work. Normally, there are limits set on how much paper money the United States can circulate, as well as rules that regulate gold, silver and copper. But, there is a grey area when it comes to platinum coins, as they are often used for commemorative mintings. For a more in-depth explanation of the laws and codes that go behind this, Wealth Wire has a great piece on the subject.

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