Yep, old Nuthouse is at it again, plugging a copper "Tea Party" Liberty Dollar that is described as "minted in Uncirculated condition, measures 39mm in diameter and contains one avoirdupois ounce of pure copper."
Let's see now. Copper is around $2.80 a pound, which would be about 17.5 cents an ounce. One of his Liberty Dollars sells for $1, which is a loss for the buyer of 82 cents.
Of course, you can't buy them yet, but he is accepting advance orders. In fact, Nuthouse claims he sold 60,000 in 24 hours.
P.T. Barnum was right...
Read it and weep: http://www.libertydollar.org/ld/teapartydollar
Tea Party Liberty Dollar
-
- Admiral of the Quatloosian Seas
- Posts: 292
- Joined: Sat Mar 07, 2009 2:56 am
- Location: Great Basin Bioregion
Tea Party Liberty Dollar
Irony: The Ayn Rand® Institute (ARI) is a 501(c)(3) nonprofit organization.
Re: Tea Party Liberty Dollar
To be fair, no one is buying this for monetary purposes, they're buying them as memorabilia. There's lots to bash on Nuthaus about, but selling copper medallions for a dollar isn't one of them. Heck, if I thought he would actually deliver, I might just buy a bunch to give out as Christmas gifts to the tea partiers I know.
-
- Princeps Wooloosia
- Posts: 3144
- Joined: Sat May 24, 2008 4:50 pm
Re: Tea Party Liberty Dollar
Did he actually say an avoirdupois ounce??
Then he's actually cheating his customers more than I had previously thought (and I was sure he was charging them nearly double the market value of silver). Now I know he is definitely robbing them blind.
Silver and gold are commonly weighed by TROY ounces, not avoirdupois. The avoirdupois ounce is only about 91% of a troy ounce. So he's definitely charging his customers at least double the true market price of silver.
Then he's actually cheating his customers more than I had previously thought (and I was sure he was charging them nearly double the market value of silver). Now I know he is definitely robbing them blind.
Silver and gold are commonly weighed by TROY ounces, not avoirdupois. The avoirdupois ounce is only about 91% of a troy ounce. So he's definitely charging his customers at least double the true market price of silver.
-
- Trusted Keeper of the All True FAQ
- Posts: 5233
- Joined: Sun Mar 02, 2003 3:38 am
- Location: Earth
Re: Tea Party Liberty Dollar
Which is the solution to an old trick question: Which weighs more, an ounce of gold or an ounce of feathers?fortinbras wrote:Silver and gold are commonly weighed by TROY ounces, not avoirdupois.
Dan Evans
Foreman of the Unified Citizens' Grand Jury for Pennsylvania
(And author of the Tax Protester FAQ: evans-legal.com/dan/tpfaq.html)
"Nothing is more terrible than ignorance in action." Johann Wolfgang von Goethe.
Foreman of the Unified Citizens' Grand Jury for Pennsylvania
(And author of the Tax Protester FAQ: evans-legal.com/dan/tpfaq.html)
"Nothing is more terrible than ignorance in action." Johann Wolfgang von Goethe.
-
- Princeps Wooloosia
- Posts: 3144
- Joined: Sat May 24, 2008 4:50 pm
Re: Tea Party Liberty Dollar
The trick question was usually "... a POUND of gold or a POUND of feathers..."LPC wrote:Which is the solution to an old trick question: Which weighs more, an ounce of gold or an ounce of feathers?fortinbras wrote:Silver and gold are commonly weighed by TROY ounces, not avoirdupois.
Why? Because this makes it more of a trick
Because although troy ounces (31.10 grams) are a bit weightier than avoirdupois ounces (28.35 grams), Troy pounds are only 12 troy ounces (373.2 grams), while Avoirdupois pounds are the familiar 16 avoirdupois ounces (453.6 grams). This makes troy pounds lighter weight than avoidupois pounds (troy pound = 82.27% of an avoirdupois pound). So a POUND of feathers (measured in avoirdupois) weighs 80.4 grams more than a POUND of gold (measured in troy).
Have I bored everybody yet?
-
- Emperor of rodents, foreign and domestic
- Posts: 378
- Joined: Thu Jun 21, 2007 4:24 pm
- Location: All holed up in Minnesota with a bunch of nuts
Re: Tea Party Liberty Dollar
I'm dizzy. Also If I knew he would deliver I might buy a Libby for collector sake.
Are you saying that Ron Paul serves as a convenient chew toy to keep stupid puppies occupied so they don't roll in the garbage? -grixit