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News Link • Gold and Silver

Free Coinage Of Gold & Silver - Then And Now


Some people think that one of the fundamental institutions of the 19th century should be restored; we single out Great Britain as the great leader embracing this institution.

This institution was the free minting of gold practiced by Great Britain in its heyday of growth, world economic and financial power. Under this system, any owner of gold bullion could take his bullion to the Royal Mint and have it minted into coins containing exactly the same amount of gold. This was done at no cost to the owner of bullion as a government service to the economy.

Thus, the owner of gold bullion converted his bullion directly into money which could be saved, invested or spent at will. The new gold was turned into money and increased the money supply because gold was money.

Another idea has been floated, regarding doing the same with silver: "Opening the Mint to Silver" is the same idea as free coinage of gold, outlined above, but applied to silver.

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