Phony Coins

I have seen advertisements for a "one dollar" coin, legal
tender in Palau and nothing to do with what I consider real
dollars (US, Canada, Hong Kong, etc.). It commemorates
100 years of GM -- good to do now before it goes under.
The headlights of the Corvette light up and the car is yellow
color.

IMHO, these are not "real" coins. The current series of US
gold coins are not intended for circulation, but to me they are
"real" coins.

Do others have opinions about coins like the Palau dollar?

GFH

wrote in message
ups.com...
I have seen advertisements for a "one dollar" coin, legal
tender in Palau and nothing to do with what I consider real
dollars (US, Canada, Hong Kong, etc.). It commemorates
100 years of GM -- good to do now before it goes under.
The headlights of the Corvette light up and the car is yellow
color.

IMHO, these are not "real" coins. The current series of US
gold coins are not intended for circulation, but to me they are
"real" coins.

Do others have opinions about coins like the Palau dollar?

The way I figger, a guy can collect whatever he likes, and I'll keep my trap
shut about it. If somebody wants to collect NCLT or bullion, and it gives
him pleasure, who am I to rain on his parade?

James
'personally, I prefer coins intended for circulation'

? ?????? ??? ??????
ups.com...
I have seen advertisements for a "one dollar" coin, legal
tender in Palau and nothing to do with what I consider real
dollars (US, Canada, Hong Kong, etc.).

?
Every country is free to name its currency, some chose to name it "dollar".
So every "dollar" issued by the central bank of a given country should be
considered "real dollar".
In Palau I'm sure it's real money.

It commemorates
100 years of GM -- good to do now before it goes under.
The headlights of the Corvette light up and the car is yellow
color.

IMHO, these are not "real" coins.

IMHO any coin issued by a sovereign country is real money.
Now if you/we like it or not, that's another thing;-)

The current series of US
gold coins are not intended for circulation, but to me they are
"real" coins.

I see, double standards, right?;-)

Do others have opinions about coins like the Palau dollar?

If I like a coin I collect it, that's what I think.
I am collecting oversized silver coins (over an ounce) from all over the
world and in this collection there are many coins from nations like Palau.
There is no reason to not include them in my collection (Bahamas dollars,
Jamaica dollars, Cayman Islands dollars, Barbados dollars, etc) which BTW
you can see it he http://snipr.com/1nuk2

rgrds


--

E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A

Coins, travels and mo http://pg.photos.yahoo.com/ph/golanule/my_photos
http://gogu.enosi.org/index.html

gogu wrote:

Every country is free to name its currency, some chose to name it "dollar".
So every "dollar" issued by the central bank of a given country should be
considered "real dollar".

So far, so good. :-) But ...

In Palau I'm sure it's real money.

.... the dollar used in Palau _is_ the US dollar: The country has some
kind of association treaty with the United States, and US coins/notes
are used there. Palau does not issue any circulation coins, just those
pieces for collectors. Yes, I would call them odd too, but if anybody
wants to collect them - be my guest g.

Christian

"Christian Feldhaus" wrote in message

... the dollar used in Palau _is_ the US dollar: The country has some
kind of association treaty with the United States, and US coins/notes
are used there. Palau does not issue any circulation coins, just those
pieces for collectors. Yes, I would call them odd too, but if anybody
wants to collect them - be my guest g.

Christian

And the Palau coins are not good in Palau, at least according to several
people that have taken the $5 coins there and tried to spend them. They are
more in the NCNLT category, meaning they are mere trinkets.

"Christian Feldhaus" wrote in message
d...
gogu wrote:

Every country is free to name its currency, some chose to name it
"dollar".
So every "dollar" issued by the central bank of a given country should be
considered "real dollar".

So far, so good. :-) But ...

In Palau I'm sure it's real money.

... the dollar used in Palau _is_ the US dollar: The country has some
kind of association treaty with the United States, and US coins/notes
are used there. Palau does not issue any circulation coins, just those
pieces for collectors. Yes, I would call them odd too, but if anybody
wants to collect them - be my guest g.

Shhhhh...not so loud, pretty soon they'll want their own state quarter. 8)

James

You mean like the bronze non-monetized First Lady trinkets being
pushed lately, or the composite trash the Fed has been passing off as
US currency after it turned Kennedy's head into an obverse? To me,
they're ALL phony coins, and to collect them is insanity. I'm just
amazed we can still trade it for the things we actually need to
survive, but then, the Fed is working on snuffing that out too. Isn't
it obvious by now?

On Jul 4, 7:13 pm, wrote:
You mean like the bronze non-monetized First Lady trinkets being
pushed lately, or the composite trash the Fed has been passing off as
US currency after it turned Kennedy's head into an obverse? To me,
they're ALL phony coins, and to collect them is insanity. I'm just
amazed we can still trade it for the things we actually need to
survive, but then, the Fed is working on snuffing that out too. Isn't
it obvious by now?

OK. Money is just data bits. Or, to be more precise, the arrangement
of data bits. That is one of the attractions of real coins -- coins
whose
metal is the value.

GFH

On Jul 4, 9:34 am, wrote:
I have seen advertisements for a "one dollar" coin, legal
tender in Palau and nothing to do with what I consider real
dollars (US, Canada, Hong Kong, etc.). It commemorates
100 years of GM -- good to do now before it goes under.
The headlights of the Corvette light up and the car is yellow
color.

IMHO, these are not "real" coins. The current series of US
gold coins are not intended for circulation, but to me they are
"real" coins.

Do others have opinions about coins like the Palau dollar?

GFH

Palau (along with the Marshall Islands (RMI) and the Federated States
of Micronesia [FSM]) have agreements with the US known as the Compact
of Free Association (COFA).

The COFA provides for independence for Palau. The US defends Palau and
can used Palau for military bases. In return, Palau consults with the
US about foreign affairs. Palauan citizens can receive things like
social security and there are special immigration rules in effect.
Palauans can also join the US military.

With the introduction out of the way, let's get to the subject of this
NCLT. Under Art.5, Section 251 of the COFA, Palau uses the US dollar.
In my mind this means if I were to travel to Palau, I could use the
money in my pocket, which is fine and proper. However, if I were go on
this same trip and use this coin to pay for a Pepsi, I personally
doubt it since I appears that this piece of NCLT is just another
example of a small country who signed an agreement with a third party
mint to mini coins in their name. In other words, the value and nation
of issue are nothing but labels.

This brings me to my second point. Since Palau uses the US dollar,
could I take this coin (or any other of piece of Palauan NCLT) and use
it in the US proper? To me, the jury is still out on this one. In any
case, i'm willing to conclude two things:

A) I don't think the coin would be accepted in Palau. I once read on
RCC that someone went to the RMI and tried to cash in his RMI issued
NCLT but failed (does anyone have more on this story?). I bet the same
thing could happen in this case.

B) I have no doubt that this coin would not circulate in the US proper
since most would regard it as a foreign coin, even though though Palau
uses the US dollar.

In summary, while this coin may have collector and/or bullion value as
NCLT, I very much doubt it would circulate here in the US or Palau.

It appears I've found another mystery to investigate!

Joshua Holman
Havelock, NC

? "Christian Feldhaus" ?????? ??? ??????
d...
gogu wrote:

Every country is free to name its currency, some chose to name it
"dollar".
So every "dollar" issued by the central bank of a given country should be
considered "real dollar".


So far, so good. :-) But ...


In Palau I'm sure it's real money.


... the dollar used in Palau _is_ the US dollar: The country has some
kind of association treaty with the United States, and US coins/notes
are used there. Palau does not issue any circulation coins, just those
pieces for collectors. Yes, I would call them odd too, but if anybody
wants to collect them - be my guest g.

And you can't spend a Palau silver coin of $5 there?!...

--

E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A

Coins, travels and mo http://pg.photos.yahoo.com/ph/golanule/my_photos
http://gogu.enosi.org/index.html