[4CJ]

Under the Constitution, individual states are permitted to coin money. That argument is utterly specious.

Article I § 10 states, '[n]o State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money'.

Try again.

[capitan_refugio]

Until 1864 the only restrictions on non-federal production of coins was that they had to be silver or gold to be legal tender and they could not be made by a state government. Foreign coins (i.e. "pieces of eight") were also legal tender. They were considered by the federal government to be private coinage. I own one - a California gold piece.

"Individual states" was a poor choice of words on my part. The point remains, coining or printing money is not exclusively a national function. Some would say that today, we don't even use "real money," but rather promissory notes - but that is another discussion

[nolu chan]

All this time he thought pesos were his State coin.