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The One Trillion Dollar Coin & The Debt Ceiling (Read 3257 times)
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Dallas, Tx
The One Trillion Dollar Coin & The Debt Ceiling
11. Jan 2013 at 16:56
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With all the talk in the news of the $1 Trillion Coin to fix the debt ceiling in Washington, doesn't it remind you of Blaylock's book, The Last Coin?!? If they mint up a One Trillion Dollar platinum coin, it won't be worth a trillion dollars in platinum metal, so the worth is sort of symbolic -- giving it sort of a massive amount of archetypal weight in the worldwide subconscious!   Roll Eyes

Some have even made a parody of the LOTR verse: "One coin to rule them all, one coin to bind them..."!

I actually thought Blaylock 1st coined that verse - he came close in his Last Coin book, but chose to make it even funnier:

"...One pig to rule them all, One pig to bind them
One pig to bring them all and on the pier-end find them
In Seal Beach, on the Coast."

~ attributed to William Ashbless, "Myths of the Pacific Coast"
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Re: The One Trillion Dollar Coin & The Debt Ceilin
Reply #1 - 11. Jan 2013 at 18:17
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The Royal Canadian Mint made a one million dollar coin a few years ago:
http://www.mint.ca/store/mint/learn/million-dollar-coin-1600006
I guess it would take a million of them to match the value of the trillion dollar coin (unless minting the trillion dollar coin causes the value of the US dollar to collapse). Perhaps, like the Ningi, it will be a triangular rubber coin six thousand eight hundred miles along each side.
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Re: The One Trillion Dollar Coin & The Debt Ceilin
Reply #2 - 11. Jan 2013 at 18:28
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That Canadian coin seems literally worth a million in gold - it's huge! I'd hate to see the pocket that could carry that coin!
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Re: The One Trillion Dollar Coin & The Debt Ceilin
Reply #3 - 11. Jan 2013 at 19:26
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At today's gold price, its intrinsic value would be about $5 million (like a lot of bullion coins, it has a legal tender or face value lower than the value of the gold/silver making up the coin).

Probably if you're rich enough to spend it, you can afford to hire people to carry it around for you (it weighs 100 kg). On the other hand, you don't have to worry about pick pockets, unless they're giants.

The Mint occasionally makes legal tender silver coins that cost the face value, like this $20 one marking the end of the penny: http://www.mint.ca/store/coin/20-for-20-fine-silver-coin-farewell-to-the-penn...
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