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thatcoinguy's Blog

21 Oct 2021

The Trillion Dollar Coin

Coins-United States | thatcoinguy

Hello fellow YNs and YNH!


Today, I will attempt to inform you on a topic that I feel very strongly about, without getting too biased. Here goes nothing.


The trillion dollar coin was first though of in 2011 when the US government hit the debt ceiling (a topic for another blog?). It would be used to raise the debt ceiling and lower US debt. If it were to become a real thing, it would be made of a trillion dollars worth of platinum bullion. The debt ceiling has become a recent topic amidst the pandemic, and the trillion dollar coin has resurfaced as a practical solution. But how practical WOULD a trillion dollar really be? And after some research I did, could it even exist???


A trillion dollar coin that had a trillion dollars of platinum would have about 617 million ounces. That's a little less than TWO Eiffel Towers made of platinum!😱 I learned that an ounce of platinum weighs31.1034768 grams, so after a quick calculator visit, I learned this trillion dollar coin would weigh 19190845185.6 grams, or42308571.42857142 pounds. Or21154.285714285710128 tons. Very practical.


And then there is the issue of who would be on the coin. I am leaning towards Chewbacca like Jason Gey (https://www.wsj.com/articles/a-selfish-case-for-a-trillion-dollar-coin-11634305183)suggests. As he puts it, "Who doesn't like Chewbacca?" Put in the comments below who you would put on the trillion dollar coin! The US government would probably pick someone who actually existed (and doesn't cost a million is copywrites) like another president.Put in the comments below who you would put on the trillion dollar coin!


Keep collecting,

thatcoinguy

Comments

CoinHunter

Level 5

Nice blogs!

AC coin$

Level 5

Imagine that the figures you are attempting to bring have nothing to do with the external international debt,,,,, Would be a thrill to know the US real external debt,,,,, The USA shall prevail, as well as the Dollar, as in old times and ever. That is being a standing true US citizen no matter the harsh rounds....

Long Beard

Level 5

Agree with Longstrider, but tough to keep things about a possible coin. The coinage law of 1997 gives the Treasury Secretary power to strike platinum coins of any denomination. Striking any extremely high denomination is a side step to borrowing against the debt ceiling as they'd be struck to "spend", not borrow. So I think these will be a reality at some point.

Kepi

Level 6

Crazy idea! ; )

Golfer

Level 5

Eagle on obverse and white house on reverse. Would love to see the coin. Could put it next to the Liberty Bell on display !

Long Beard

Level 5

It would have to be one very, very large coin,. A 946,073,794 ounce coin (platinum is currently $1057 oz.)

Longstrider

Level 6

Please...Politics.

Mike

Level 7

I'm sorry but Sun is right. I think we're 28 trillion in debt. That means every american paid a certain amount we would be out of that massive debt.

"SUN"

Level 6

Just politics

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