January 11, 2013

The troubling legal currency of the platinum coin

“The history of coinage is indeed, in many cases, a melancholy record of fraud, folly, and ignorance.” So wrote Sir John Lubbock in his classic 1902 book, “A Short History of Coins and Currency.” And I will freely admit that my first reaction, on hearing about the platinum coin, was to nod sagely and tell myself that Lubbock was right.

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