Wednesday, November 28, 2007

Sound Money

The Washington Times has a commentary on the raid last week of a company that was selling coins or medallions with the likeness of Ron Paul.

The article raises good points on the confusing laws and how the government uses force to stop those who want to compete with the government.


Any citizen may possess, buy and sell as many gold, silver or other metal coins (medallions) produced by governments and private mints as he chooses. However, he may not pass off any of them as "money," except the "legal tender" coins minted by the government, such as the U.S. "quarter."

Now, you might be thinking if you can sell the coins in your coin collection for money, whether or not they are U.S. legal tender, what is the difference?

This nonsense only gets worse.


Richard W. Rahn is the chairman of the Institute for Global Economic Growth