Thursday, January 10, 2013

About That $Trillion Dollar Platinum Coin

Even if it was legal, and its not, it would be hard to store...

People like Prof. Tribe are focusing on the Treasury Secretary's discretion in setting denominations without worrying that the phrase "bullion coin" might actually have meaning. Here we go, from the US Mint:
A bullion coin is a coin that is valued by its weight in a specific precious metal. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition and age, bullion coins are purchased by investors seeking a simple and tangible means to own and invest in the gold, silver, and platinum markets.
Well, that is the common, widely understood definition. Do words lose their meaning when Congress puts them in a law? Probably not. And that might be why people who read the law and know what the words mean realize we are talking about one large coin.
The face that sank a thousand ships...

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