RoR: Forum

Does this poll come anywhere near addressing the logical range of alternatives? The addled psychoepistemology here is bewildering.

First, how does "the government should not mint coins" fit as a choice on what one would like to see on a coin? Does choosing this option imply that one opposes coins in general? Or that one would like private coins to be minted, but who cares what they have on their faces?

Who is Miss Liberty? The lead character of the broadway musical? Does this mean Lady Liberty, the Statue of Liberty personified? If so, are we to see her dressed in the style of Madonna, posed grabbing her crotch? What does "Miss Liberty in different styles and poses" mean?

The Panama Pacific Conference? Why not Woodstock, or the Waldorf Conference? This choice is bizarrely concrete. What is the implied abstraction? Conventions of busybodies?

Famous Capitalists? What, like Bill Gates and Armand Hammer? Who will choose these Capitalists? A Senate committee, chaired by Barney Frank? Or will Trump coin his own private currency, the Electrum Comb Over?

Just the weight and fineness - well that's a logical choice, for once. A good pick for Asperger's sufferers I would think.

Where is the option for the status quo?

What about famous Americans?

Iconic images such as the flag raising at Iwo Jima?

Symbols of America such as the Bald Eagle?

Why not let businesses bid to place advertising? "Eat at Joes"?

This poll has a very strange mix of odd concretes and non-sequiturs. It can still be edited, and options added.

Post 1

Thursday, January 1, 2009 - 2:47pm

Obverse of 1915 Panama-Pacific Commemorative Half Dollar

Panama Pacific commemorative Half Dollar
In 1915, San Francisco hosted the Panama-Pacific Exposition to celebrate the opening of the Panama Canal. To commemorate the event, the United States mint struck a variety of coins in silver and gold, including a Half Dollar, Gold Dollar, $2-1/2 Gold, $50 Gold Octagonal, and $50 Gold Round.
Image and text from www.coinfacts.com

This is the famous 1836 Gobrecht dollar with "C. GOBRECHT F." in the exerge below the base.
(From www.uspatterns.com coin is catalogued as Judd 58/Pollock 61)

William Barber's "Amazonian" design considered to be one of the most beautiful ever made by the US Mint. This design was issued in sets of the quarter dollar, half dollar and silver dollar in silver as above, copper and aluminum. (From www.uspatterns.com coin is catalogued as Judd 1195/Pollock 1335)

wpe18E.jpg (25825 bytes)

OBVERSE: Bust to right with hat on. THE BIRMINGHAM POET. REVERSE: BRITONS BEHOLD / THE BARD OF FREEDOM / PLAIN & BOLD / WHO SINGS AS DRUIDS / SUNG OF OLD. In 5 lines within an oak wreath. EDGE: MANUFACTURED BY W, LUTWYCHE BIRMINGHAM.

Catalogued as Dalton&Hamer Warwickshire 30 from www.coinsandstamps.com

(The Von Mises Society recently published Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage by Leland B. Yeager.)

Post 2

Friday, January 2, 2009 - 1:15am

I don't have a problem with the government minting coins, so long as they get rid of the current monopoly on money.

Given a choice between fiat money backed up by nothing other than the promise to not inflate the money supply too much this year, versus actual gold or silver or copper backed up by the materials the coin is made out of, I'd much prefer the latter.

Post 3

Friday, January 2, 2009 - 6:56am

TK: Where is the option for the status quo? What about famous Americans? Iconic images such as the flag raising at Iwo Jima? Symbols of America such as the Bald Eagle? Why not let businesses bid to place advertising? "Eat at Joes"?

Those are all good questions. Most polls only offer some choices and even those offered are not complete in themselves. In other words, here on RoR a poll starts a discusion. Usually, when arguing matters of faith and morals, no special technical knowledge is required. We all have opinions. In this, case, I relied on the fact that most Objectivists know something about money, especially American numismatics and economic history. However, your response -- "The Panama Pacific Conference? Why not Woodstock, or the Waldorf Conference? This choice is bizarrely concrete. What is the implied abstraction? Conventions of busybodies?" -- showed that you probably never bought a Red Book. In that you are perhaps not alone, but, again, that is what these discussions are about. Now that you have seen the Pan-Pacs -- Did you look at the huge $50 gold octagonal? -- what do you think?

You asked specifically about commemorating Iwo Jima.
2005 Marine Corps 230th Anniversary Silver Dollar, Obverse and Reverse

2005 Marine Corps 230th Anniversary Silver Dollar, Obverse and Reverse

You should spend some time at the US Mint website, www.usmint.com and see what you like. Our government actually invests a lot of energy and intelligence in coins. It is a marketplace that many government Mints address in a competitive way.

Myself, it wouldn't be my choice... but that's why the free market works. We all get what we want if we are willing to offer value for value.

Post 4

Friday, January 2, 2009 - 7:03am

Jim H.: "I don't have a problem with the government minting coins, so long as they get rid of the current monopoly on money."

Again, this is a discussion. So, the government needs money objects to pay for what it buys -- pencils, battleships -- so, considering the sheer volume, they might as well make their own. On the other hand, the Mint is a business and the government could just contract the work, as they do with so much else.

The question, though, Jim, is what would you like to see on a coin? Have you ever seen Conder Tokens -- the British merchant coins of the 1790s? -- or Civil War tokens -- broadly classed into "patriotics" and "storecards". The Franklin Mint had many series for collectors -- too many in fact -- but I bought a bunch of things at different numismatic conventions where they are much cheaper and I have a large silver dollar-sized bronze proof for John D. Rockefeller and I gave my wife one from the same series honoring J. P. Morgan. The US Mint recently honored Thomas A. Edison.

What's your pleasure? Can you find an example online?

Post 5

Sunday, January 4, 2009 - 1:29pm

Given a choice between fiat money backed up by nothing other than the promise to not inflate the money supply too much this year, versus actual gold or silver or copper backed up by the materials the coin is made out of, I'd much prefer the latter.

There really is no difference. If the government determines how much each coin is worth in "X weight of gold", they would just subtly change the amount and inflate the currency anyway.

For example, let's say there was a 1000-dollar-note that could be straight-exchanged for 1 oz. of gold. Next year, if the government needed more money, they would just say that the 1000-dollar-note is now worth .995 oz of gold.

Also, I don't harbor any fantasies that if the United States suffered a financial collapse that anyone anywhere would really honor the 1000-dollar-notes I have.

Post 6

Sunday, January 4, 2009 - 1:35pm

Steven,

As I understand it, a proper gold-backed currency has the amount of gold printed on it. It is a promissory note for a specific amount of gold - a claim check, not 'dollars'. Gold is the denomination, not American dollars. That doesn't mean the organization backing the currency can't fail, or attempt to offer 'cents on the dollar' - but it helps. And having private, competing sources of gold-backed money would help as well.

Post 7

Wednesday, January 7, 2009 - 1:41pm