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- - Junk Silver (http://goldismoney.info/forums/showthread.php?t=199536)

Vintage73 | 11-11-2007 07:36 PM
Junk Silver I thought that the money in circulation remained the property of the issuing body. If this is indeed the case, why is junk silver available for purchase? I would have thought that it would have been destroyed once removed from circulation. Also, wouldn�t this mean that it could be confiscated at some stage by the organisation that �owns� it?

AlwaysWrite | 11-11-2007 08:40 PM
Re: Junk Silver Is the money in your pocket or change jar or bank account "owned" by the gov't? Can they just decide to take it back? (Well, yes, but not by just coming to your house and taking it. They have to secretly tax it away through inflation, and not-so-secretly tax it away by taxing every thing you buy, own, rent, eat, sell, ship, consume, or look at the wrong way.)

Merlin | 11-11-2007 08:43 PM
Re: Junk Silver Quote:
Originally Posted by Vintage73 (Post 825526) I thought that the money in circulation remained the property of the issuing body. If this is indeed the case, why is junk silver available for purchase? I would have thought that it would have been destroyed once removed from circulation. Also, wouldn�t this mean that it could be confiscated at some stage by the organisation that �owns� it?
The "people" removed it from circulation, not the government. Gresham's Law and all that :D "When there is a legal tender currency, bad money drives good money out of circulation."

HistoryStudent | 11-11-2007 09:20 PM
Re: Junk Silver Quote:
Originally Posted by Vintage73 (Post 825526) I thought that the money in circulation remained the property of the issuing body. If this is indeed the case, why is junk silver available for purchase? I would have thought that it would have been destroyed once removed from circulation. Also, wouldn�t this mean that it could be confiscated at some stage by the organisation that �owns� it?
If you really want to know something you have to start studying now. If you do you'll make a lot of money: but, like Jesse Livermore said, "most people are so lazy they wouldn't stoop over to pick up a huge pile of money on the ground; they want you to spend the time to 'TELL THEM WHAT TO DO!'"

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