[panaxanax]

Speaking of counterfeiting, coin dealers/collectors have been finding lots of counterfeit gold and silver coins in the last couple of years. Thanks to China, of course.

I know you’re a ‘gold-bug’ (like me) and know this already, but many regular folks don’t.

Imagine trying to buy something at Wal-Mart with a silver/gold coin? The cashier would have to call the manager over with his scale, micrometer and date-book to measure and weigh the coins. Plus, old worn out coins do not contain the full amount of the precious metal they started out with. Total confusion would ensue.

With that said, I love the idea of what Utah is proposing and hope it spreads throughout the nation.

Where you been? Haven’t seen you here in a while.

[jiggyboy]

I got real busy with work starting last March or April or so and hardly posted at all almost through the end of the year. I think blam or jet_jaguar is doing the Goldbug Ping List most of the time these days.

But this year is way slower than last year and I have time (maybe too much time) to virtually lounge about here in various FR threads.

[jiggyboy]

I think a lot about exactly that aspect of using gold as currency. BTW, here's a fake 1-kilogram bar!

"This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic. The bar was supplied with the original certificate.

"The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten."

http://www.zerohedge.com/news/tungsten-filled-1-kilo-gold-bar-found-uk

[Squawk 8888]

I think silver would be a much more practical medium- less prone to wear and larger low-value coins can be minted. Prior to 1969 all Canadian dimes and quarters were silver, at the same size as today’s coins, and the value of the metal was within shouting distance of the face value.