Gold and Silver Coins to Replace Federal Currency in South Carolina?

Rep. Mike Pitts of South Carolina announced today that he wants to ban federal currency in his state and mandate that only gold and silver coins be legal tender in South Carolina. This is an interesting proposal that has already drawn lots of comments, not to mention raised eyebrows!

Pitts believes that an economy based on silver and gold would stabalize the currency in his state if the U.S. economic system collapses. Most agree his mandate would be found unconstitutional; however, its a bold idea nonetheless.

Gold and silver may be hard to base a currency system on these days, but the idea of doing away with the paper $1 bill and using coins as the only $1 currency in the U.S. is an idea that has been discussed for years. It's certainly one that is of great interest to us here at World Reserve Monetary Exchange.

What do you think about all of this? Let me know - I'd love to hear your comments.

First Blog Post

Although I’ve only been at The World Reserve Monetary Exchange for short time so far, I’m really excited to be working with such a great team of people. I'm also excited about the many new products and programs being developed to better serve collectors and investors alike. I’ll use this blog to provide updates on new products and programs as they are made available from The World Reserve, and to share thoughts and updates on my activities and travels in my capacity as President of World Reserve Monetary Exchange.

I look forward an exciting year ahead, starting with tomorrow’s scheduled release of the new Fillmore Presidential Dollar from the U.S. Mint. Many of our customers are anxiously awaiting the arrival of these new Fillmore Presidential Dollars – not to worry, they will soon be on their way.

To keep up with the latest release schedule of Presidential Dollar, please visit The World Reserve’s Presidential Coin Release Schedule.