NY Judge Forced to Postpone Trump’s Case Until After the Election
The latest video surfacing from a New York Federal Prosecutor’s office says what the entire world knows: that Bragg’s case is BS and that he has brought this case to [...]
Will Coins Survive The Monetary Crisis?
QUESTION: Hi Armstrong,
I continue to read your blog for 2 years I say and find it educational.
I wanted to know what will happen to U.S. coins like pennies and nickels when the base metals are worth more than the coin value.
Will the U.S. allow hoarders/collectors to exchange them for spot metal value or melt value? either one would be of course more than 0.01 for the penny and more than 0.05 for the nickel.
I hope to hear my answer on the blog
A
ANSWER: When silver was removed from the coins after 1964, at first it was illegal to melt the coins down. The FBI were prosecuting people for melting the coins they called defacing. However, that quickly faded out as the law did not support their theory of defacement. $1,000 bags of US silver coin traded even on the futures market in New York.
This time around, it is not likely that we would see confiscation. We could once again see bags of coins trading as was the case even into the later 1970s.
Latest Posts
Market Talk – September 6, 2024
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 265.62 points or -0.72% to 36,391.47 • Shanghai decreased 22.51 points or -0.81% to 2,765.81 [...]
The Jobs Number & Russia
The U.S. economy added fewer-than-expected new jobs last month because most economists still refuse to comprehend that there is such a thing as the business cycle. Here we have the [...]
PRIVATE BLOG – Answering Your Questions
PRIVATE BLOG – Answering Your Questions Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com. https://ask-socrates.com/
