Platinum Coins, the Answer to America's debt problem?

Discussion in 'Platinum' started by Jislizard, Dec 13, 2012.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    I don't have to look. As I said: some applied different face value, others just swapped old currency for new.

    You could lose a fortune like this. Not knowing. That's why I freaked out a bit when I saw the new 100 US $ bill.

    It has so many elements referring to gold, some even speculated about a new gold standard.

    By the way - the back of the new 100 $ bill looks so bad,... they failed at the design.

    As I'm also a banknote collector, I prefer the look of the currently (still used) older-type 100 $ banknote.

    Hmmm...

    Did you hear?
    New euro bills are being issued! Just read yesterday... I can't remember the source.

    I can't quite understand why they are wasting energy on this... or are they planning something?

    Some sources:
    http://www.telegraph.co.uk/finance/...rio-Draghi-announces-new-euro-banknotes.html#
     
  2. AngloSaxon

    AngloSaxon Active Member

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    TreasureHunter do you recall the current US$100 note was introduced because the one available until the early 2000s had become too easy to counterfeit. Some bright spark allowed the surplus printing press parts to be sold off in the Clinton presidency and, surprise, that material found its' way to the black market. So many US$100 notes entered circulation that were almost indistinguishable from the genuine ones and the confidence in $100 notes was gone. They needed to be replaced. I imagine that happens periodically with paper fiat notes.

    I learned this in 2002 or so when working in a currency exchange office. We couldn't take 1990s US$100 notes in exchange for Pounds. Unless it was an old white American with 10 $100 and one was an old one in the 10. If it was a Russian or Fillipino with 30 1990s US$100 notes, it was a flat out refusal to exchange the old notes. No guarantee any were genuine.

    As a note collector you may have different or superior knowledge to this but that's what I worked under at the time.

    I say this as the notes may be replaced for a good reason - ease of counterfeit.
     
  3. TreasureHunter

    TreasureHunter Well-Known Member

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    Thanks for your reply... indeed: counterfeiting is the main reason for creating new banknotes... Of course, the Fed's QE is constant counterfeiting, but they are "allowed", since it's electronically-made "legally fake money"...

    I was always wondering how come the US dollar is so old-fashioned, plain simple...
    It really is one of the easiest banknote to fake!

    Small nations like Uganda, Bulgaria etc. have far more complex-looking banknotes. It was about the time to create a harder-to-fake dollar. But I just don't like the back of the new 100 $ banknote.

    I do remember the old, pre 1996 banknotes. Someone even tried to "scam" me 5-6 years ago by sticking an obsolete banknote among old ones. Naturally I gave it back.

    Right now the EU is printing new banknotes... watch the news.
     
  4. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    From the parallel thread:
     

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