According to CNBC The Trillion-Dollar Coin Is Back. There are limits regarding how much paper money the US government can print and there are regulations that govern the coinage of gold and silver. However, it appears there are no restrictions when it comes to minting platinum coins. The president could order $1 trillion worth of platinum coins and have them deposited into the treasury, instead of seeking congressional approval for the next debt ceiling vote slated for early 2013.
Of course, nobody knows the ramifications of such an action, and no one actually believes the president would order such a move. However, private citizens do have the ability to back up their paper assets with gold, silver, and platinum bullion coins. You can do what the government cannot do.
As an example, the US dollar is not backed by gold anymore and hasn’t been for a very long time. In fact, flat currencies are the norm across the globe. This has caused an enormous amount of debt and contributes to the economic mess we are currently in. You have the ability to do what government cannot do, back your paper assets with gold and platinum bullion coins.
Wikipedia says that the American Platinum Eagle is America’s official platinum bullion coin, and was first struck in 1997, and like the American Gold Eagle and Silver Eagle they enjoy the full backing of the US government. Bullion coins are available for investing purposes, and proof and uncirculated versions are available for coin collectors. In addition, it the only US coin that offers different reverse designs every year, and the coin can be used to fund an IRA account in the United States.
The current monex platinum price trails gold. This event does not happen often because platinum usually trades at a higher spot price than gold. This means it is likely platinum will soon be in correction mode and will pass gold’s price soon. To put it differently, since platinum currently trades at a discount the time to buy American Platinum Eagles is right now, before correction mode sets in.
Silvertrading.net says Platinum Eagles have a legal tender value imprinted on the coin. The one ounce coin offers a face value of $100 making it the largest denomination of any coin ever struck by the US Mint, and the coin’s purity and weight is backed by the US government. This guarantee makes it a worthwhile investment especially at the current bargain price of $1535 per ounce. As mentioned platinum typically sells at a premium compared to gold. Since the platinum spot currently trails gold a strong price correction is likely to take place in 2013.
The dollar and the globe’s major currencies are no longer backed by gold. However, investors have the means to back their paper assets with gold and platinum bullion coins. The American Platinum Eagle is the perfect coin to invest in because platinum is currently under-valued and is set for a price correction in 2013. Buying from a reputable precious metal dealer is the best way to invest in platinum and gold, because they offer 40 years of precious metal investing experience.