Another Trillion Dollar Coin Thread

[RobbyD49]

With more and more talk of this trillion dollar coin (I sincerely doubt that this will occur), what do you think will happen to the price of Platinum once it gets the go-ahead or actually gets minted? Price goes up? Down? Stays the same? I'm still new enough to this PM game that I'm not exactly sure. I do realize that the some of what affects pricing is public opinion on what will occur. Will people want to buy more platinum with some of it being held by the government? Or will people be worried that the government will just dump it back on the market soon, adding to the world supply? I just had the thought of it and wanted to know what some of your opinions are on how this could affect the price of platinum. Either way, keep stacking something!

Trillion-Dollar Coin: The Joke That's No Joke - Courant.com

 

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[jim4silver]

With more and more talk of this trillion dollar coin (I sincerely doubt that this will occur), what do you think will happen to the price of Platinum once it gets the go-ahead or actually gets minted? Price goes up? Down? Stays the same? I'm still new enough to this PM game that I'm not exactly sure. I do realize that the some of what affects pricing is public opinion on what will occur. Will people want to buy more platinum with some of it being held by the government? Or will people be worried that the government will just dump it back on the market soon, adding to the world supply? I just had the thought of it and wanted to know what some of your opinions are on how this could affect the price of platinum. Either way, keep stacking something!

Trillion-Dollar Coin: The Joke That's No Joke - Courant.com

It shouldn't really matter at all. They are not going to make the coin out of one Trillion dollars worth of platinum. It will simply be a coin made of platinum with ONE TRILLION stamped on it. I don't think there is a Trillion dollars worth of platinum even available in bullion form if someone wanted to buy that much.

The only reason they are using platinum, is that the US laws do not state specifically what denomination must be put on platinum coins like the other metals, if I remember correctly.

If they were to do that, it would really show just how f'd up everything is here and make us look even worse financially than we even are. I doubt they do it, but if they do it will speed up the process that will take PMs higher as things fall apart down the road.

Just my opinion.

Jim

 

[Phanntom]

It's very doubtful it will happen only because it won't solve the problem. The only way it would be actually worth a trillion $$'s would be if it contained a trillion $$ worth of Platinum. It's doubtful there's even that much out of the ground available for coinage and it would require dies the size of a small city to mint the coin and a warehouse of similar size to store it. Beyond that, it's value will be pretty much as worthless as a $100-bill...nothing more than a stated value, no real worth.

Think about it. If you were China and had decided that investing in US Bonds (nothing more than a promise to pay) was too shakey to invest in, would you be more motivated to buy or accept a coin that might contain even a million $$'s worth of Platinum as worth a Trillion $$...highly unlikely, that's why I believe it'll never happen.

It's also interesting to note....the US is the only country in the world that uses the term "trillion". The rest of the world uses one thousand billion in reference to that amount.

 

[RobbyD49]

The only reason they are using platinum, is that the US laws do not state specifically what denomination must be put on platinum coins like the other metals, if I remember correctly.

I had no idea this was why. I kinda figured it wouldn't equal the actual amount, just like the silver eagles. It sounds even funnier now. Finding a loophole by using coins and using a loophole in that loophole by using platinum, genius!

 

[RobbyD49]

It's also interesting to note....the US is the only country in the world that uses the term "trillion". The rest of the world uses one thousand billion in reference to that amount.

I keep learning new stuff everyday. That's why I love this site. The rest of the world must think we're nuts.
I don't think it will happen either. I wonder if they'll use a Toyota truck to tow that giant coin to Ft. Knox, kind of like the space shuttle.