Gold & Silver Forum - Constitutional Money

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The Great Ag

08-02-2006 02:20 AM

Constitutional Money

Not sure this means anything, but. . .

I just realized that the only Constitutional money our gov't mints are the gold and silver American Eagles, and the gold buffaloes, oh and commemoratives.

The rest is fiat.

Just posting a thought.

The Great Ag

65gt350

08-02-2006 02:35 AM

Re: Constitutional Money

I thought constitutional money would have to be the weight and fineness of the old silver dollars. Since the ASE is 1 troy ounce I don't think it would qualify. I think the only dollars that qualify would be the commemorative coins.

65GT350

The Great Ag

08-02-2006 02:44 AM

Re: Constitutional Money

Quote:

Originally Posted by 65gt350 (Post 318082)

You are correct 65gt350. I forgot about the weight and fineness 371.25 grains of silver, but those are the closest we have to Constitutional money.

Thanks for the correction

The Great Ag

graspAU

08-02-2006 07:20 AM

Re: Constitutional Money

Yep - and there is supposed to be free coinage by the gov't so you can walk into some place close by and they will melt your gold or silver down and create the official coins. Don't see that happening soon but having the raw materials in your hand to do so is a good idea.

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