Am I correct in saying at one time John Sinnock’s initials appearing at the truncation of Roosevelt’s bust on the dime was interpreted as a secret Communist symbol?
This rumor was a product of the Red Scare and the Cold War. Not only was the JS on the Roosevelt dime misinterpreted to stand for Soviet Premier Josef Stalin, but Frank Gasparro’s initials at Kennedy’s neck truncation on the half dollar was suggested to be a hammer and sickle.
I’m frustrated with the products being offered by the U.S. Mint. Where can I write to protest?
Write to your congressman, not to the Mint. The U.S. government treats the Mint as a manufacturing arm, not as an independent entity as are many foreign mints. Our Mint is told what to make or not make by Congress. Many foreign mints are government-owned businesses required to turn their profits over to that government as their sole shareholder, but they are free to initiate most of their own decisions regarding collector products. In the United States most decisions originate from Congress and the Mint carries out its wishes.
Canada, Mexico and many other foreign countries use ringed bimetallic coins in circulation. Why doesn’t the United States follow this example?
Politics rather than technical knowledge is the reason. In 2000 the U.S. issued a commemorative $10 Library of Congress coin composed of gold and platinum. Nothing else has been issued since. The function of such coins in other countries is to replace the lowest paper money denomination with a distinctive, recognizable coin. In our country there is a significant security paper manufacturer lobby in Congress blocking eliminating the paper dollar with a coin.
I’m a hard asset person, not trusting our fiat money. Is there any history of what has happened to unbacked fiat money in the past?
Just to cite two examples, ancient Romans debased their gold and silver coins as inflation and public debt spiraled out of control. In post-World War One Germany, fiat paper money created inflation at historically high rates until the government finally began backing their bank notes with real estate. I’m not suggesting we will suffer the same fates as these two examples, but both of these examples ended badly.
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