> Another reason coins may not replace paper money so fast in the USA is coins are made by the US Gov't at their mints.Paper money is issued by The Federal Reserve which is not part of the US Gov't.US Gov't hasn't backed the paper money since the 1970's when what is now call Silver Certificates were discontinued.
That's an extraordinary number of errors in three sentences.
Coins and currency are both produced by the US Mint.
There is no shortage of one dollar coins; the Mint is in fact producing more of them than there is demand for; newly minted dollar coins are going into storage in hopes than one day they'll be needed.
The Federal Reserve System is in fact a US government agency, created by an act of Congress and administered by Federal Reserve Board members who are appointed by the President.
The Fed does not "issue" money. It LOANS money to other banks and controls the money supply by adjusting the interest rate at which it loans money.
Although you can no longer redeem silver certificates for silver, it is an oversimplification to say the government does not "back" the dollar. Despite the dubious fiscal policies of current and past administrations and Congress, the US dollar remains the standard by which all other currencies are measured. That's because it is backed by the full faith of the US government and nobody really expects the US to renege on its obligations.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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