That's right. The law explicit limits paper money but not coins. And by the way, the whole point of seigniorage is for the metal-value of the coin to be less than its declared face value. That's how you make money. Just as with counterfeiting, your profit is the face value of the money you print minus production expenses.
On Sat, Jul 30, 2011 at 6:26 PM, Jeffrey Fisher <[email protected]>wrote: > i thought the law does distinguish between paper money and coins, and > that's why the coin. > > On Sat, Jul 30, 2011 at 5:19 PM, socialismorbarbarism < > [email protected]> wrote: > >> Yes, yes, I get all that. What I don't understand is: Why a *coin*? >> Why, in the absence of a law specifically banning the issuance of >> paper, is this necessary? Why not paper? >> > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > >
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