Trillion Dollar Coin was a concept introduced in 2011 to create platinum coins in order to combat the U.S. debt crisis. In the U.S. there are limits as to how much paper currency can be in circulation along with rules regarding gold, silver and copper coinage. To get around these limitations, there was a loophole in which the U.S. Treasury would have the authority to produce platinum coins of any denomination with no limits to the volume in circulation. The concept was that the U.S. Mint would make several trillion dollar platinum coins and have them put in the treasury and used to pay off some of the nation’s debt. In 2013 the concept of the trillion dollar coin was rejected by the Federal Reserve and the U.S. Treasury.
What is a Trillion Dollar Coin?
Trillion Dollar Coin was a concept introduced in 2011 to create platinum coins in order to combat the U.S. debt crisis.
TRADE WITH AN EDGE
A Financial Source subscription is just $97 per month. Cancel in two clicks.
*Limited offer. Normally $247.