Trillion Dollar Platinum Coin

1 trillion platinum coins the abc act would be paid for by minting two 1 trillion platinum coins and additional coins as needed.

Trillion dollar platinum coin.

Notice the allure of the almost mystical platinum coins presumably housed in a super cool safe somewhere at the treasury department or us mint. Our one trillion dollar platinum coin is minted to the highest quality proof standard. The coronavirus has killed over 13 000 people worldwide including 348 in the us according to data metrics site worldometers. We could even go visit them.

While most non coin collectors have never even heard of u s. It s fully up to the treasury secretary s discretion. The term trillion dollar coin refers to a theoretical concept whereby a government could mint a platinum or other precious metal coin with a face value of 1 trillion which could then be used. A us politician has asked the treasury to mint two platinum coins each worth 1 trillion in order to help the nation s economy deal with the coronavirus pandemic.

The crazed trillion dollar coin proposal is back. With a core made of pure copper this impressivepiece of craftsmanship is layered in luxurious 0 9995 pure fine platinum. The law originated as a way to mint commemorative coins celebrating or honoring american institutions places people or events. Mint chief suggested the treasury could take advantage of a loophole mint a 1 trillion platinum coin and ship it to the federal reserve.

A platinum coin can be worth a penny a sum equivalent to the gross domestic product of indonesia roughly 1 trillion or anything else. Even krugman and tlaib on some level understand the appeal of real coins in tangible. Some very smart folks right down to a former u s. The trillion dollar coin is a concept that emerged during the united states debt ceiling crisis in 2011 as a proposed way to bypass any necessity for the united states congress to raise the country s borrowing limit through the minting of very high value platinum coins.

The mintthecoin plan proposes to account for the direct payments a back of the envelope calculation suggests 6 5 trillion is a conservative cost estimate by having the u s. Treasury mint a series of 1 trillion platinum coins.