Monday, July 11, 2011

Letter to U.S Mint

A few years ago, I read a balance sheet that stated coins were an asset to the Federal Reserve Board, and paper currency was a liability. I am no economist, and the people that I know who do accounting ignored my request for information on the matter. My best guess is they did not have a comprehensive understanding.

I have purchased a good share of coins from the United States Mint, however do so anchored in the information that it may be a prudent investment, not for my generation, but for my grandchildren in 7 generations.

It seems like this is a loaded question full of fractional reserve policy and metal prices. Still though, I believe I can grasp this information if someone could point me in the right direction.

Yours Sincerely,
Posted by at
Labels: , , , ,

2 comments:

  1. DaveyJuly 19, 2011 at 5:01 PM

    http://www.npr.org/2011/06/28/137394348/-1-billion-that-nobody-wants
    I heard the latter story about people scamming frequent flyer miles with the coins.

    ReplyDelete
  2. MichaelJuly 19, 2011 at 5:42 PM

    I am familiar with this article as well as the one a few years ago where the government indicated they became aware of the problem and mentioned they took precautionary measures to prohibit this sort of dilemma. Apparently this precaution was limiting purchases to 3000.00 USD per month!

    ReplyDelete

Subscribe to: Post Comments (Atom)