It is my pleasure to announce the much anticipated New World Currency! As deficits skyrocket and new paper money is printed its nice to know that there is a safety net waiting for the US Dollar in the form of Gold and Silver Eagles. Welcome back to the gold standard friends!
Greenspan advocated a return to the gold standard. I must agree. The Gold Eagle has been minted in the following denominations.
- 1 ounce: $50 face value
- 1/2 ounce: $25 face value
- 1/4 ounce: $10 face value
- 1/10 ounce: $5 face value
So, your "new" dollar is worth about $17.81 in current paper dollars, or 1/50th of an ounce of gold, at the time of this writing. Conveniently the Silver Eagle has a one dollar face value and assumes the value of silver as 1/50th that of gold. No need to mint new coins in denominations less than a dollar as the current ones will suffice.
This is not a matter of "if" its a matter of "when" this becomes the new accepted form of currency.
Currently I hold no stocks.