> Another reason coins may not replace paper money so fast in the USA is coins are made by the US Gov't at their mints.Paper money is issued by The Federal Reserve which is not part of the US Gov't.US Gov't hasn't backed the paper money since the 1970's when what is now call Silver Certificates were discontinued.
That's an extraordinary number of errors in three sentences.
Coins and currency are both produced by the US Mint.
There is no shortage of one dollar coins; the Mint is in fact producing more of them than there is demand for; newly minted dollar coins are going into storage in hopes than one day they'll be needed.
The Federal Reserve System is in fact a US government agency, created by an act of Congress and administered by Federal Reserve Board members who are appointed by the President.
The Fed does not "issue" money. It LOANS money to other banks and controls the money supply by adjusting the interest rate at which it loans money.
Although you can no longer redeem silver certificates for silver, it is an oversimplification to say the government does not "back" the dollar. Despite the dubious fiscal policies of current and past administrations and Congress, the US dollar remains the standard by which all other currencies are measured. That's because it is backed by the full faith of the US government and nobody really expects the US to renege on its obligations.
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Today's Featured Article - Tuning-Up Your Tractor: Secondary Ignition Wires and Distributor - by Curtis Von Fange. In our last episode we spent the entire day checking out the spark plugs. Is that efficency? Actually, it took more time to explain than it really did to do the inspection. At any rate we decided that a compression test was in order so we could verify the internal engine status. That way we wouldn't buy any tune up parts until we were sure that the engine was in reasonable mechanical condition. Our tests showed a fictional compression reading of 85, 80, 82 and 86 psi. That is well within a
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