A Stitch in Haste

A while back I joked that there was a fourth way to cure our federal budget woes beyond the traditional methods of raising taxes, cutting spending and monetizing the debt -- we could simply seigniorage our way into the black.

Well, apparently seigniorage is becoming less of a joke:

The House on Wednesday approved a new gold-colored coin bearing the faces of presidents to join the unpopular $1 Sacagawea coin in circulation, hoping a new design will spur use of dollar coins.
...
The bill also creates what would be the nation's first investment-grade 24-karat gold bullion coin. Intended for collectors, it would carry portraits of first ladies and [would] have a face value of $10 but sell for many times that amount at fluctuating prices based on the price of gold.
...
Officials at the Mint estimate said the new $10 bullion coin could help the United States grab a bigger share of the global market in gold collector coins. They estimate that the potential world market for 24-karat gold coins is about $2.4 billion annually.

I feel sorry for all the suckers numismatists out there -- so many new coins to buy! On the other hand, if it helps ease my tax burden, then I say coin collecting is “neat-o!”

Speaking of the Politics of “Neat-o!”, an important part of any addiction is to hook users at a young age. Addiction to coin collecting is no different, and Spaceman’s Abode has encountered the pushers:

I received my income tax refund today - so nice of the thugs in Washington to actually give back part of what they took from me! Even more exciting than the refund itself was when I learned from the back of the envelope the check came in about The United States Mint H.I.P. Pocket Change, “the hippest way to introduce kids to the world of coins.”

Exploiting innocent children with flashy ads -- the government should step in and do something about that!