“Every piece of gold jewelry or coin ever made still has value. Can you say the same thing about stocks or bonds?” — Nicholas Colas
How much better to get wisdom than gold, and good judgment than silver! — Proverbs 16:16
I picked up a couple of rolls of newly minted 2017 American Eagle silver dollars last week to hand out to my students at Chapman University upon completion of my class. We took a picture throwing the silver dollars in the air in front of a statue of Adam Smith.
I give each student a silver dollar to remember the class and to see what our currency used to be like. Prior to 1964, Americans carried silver dollars in their pockets, and prior to 1933, gold eagles and double eagles. These are beautiful coins that signaled the greatness of America and the gold standard. Sadly, fewer and fewer Americans even know what a gold double eagle or silver dollar look like.
More than 50 MILLION of these beautiful American eagle silver dollars were minted last year, and where are they? Sitting in safe deposit boxes in the dark, unviewed and unappreciated!
Today, we have token coins and paper money for our monetary system, a reflection of the decline of Western culture. When I passed out the silver dollars to my students, I contrasted the sound of the silver dollar with dropping four token quarters on a desk. What a difference in sound! Students never forget it.
If President Trump really wants to make America great again, how about bringing back into circulation these beautiful gold and silver coins of a bygone era?