The American Open Currency Standard: Trading in Gold, Silver and Copper

Throughout history Gold, Silver and Copper have been used as a medium to trade goods and services; this medium is also known as money.  The U.S. Constitution actually stated that only Gold and Silver could be used for the payment of debt.  Pennies, until recently, were made entirely of Copper mined within the United States, now even the small amount of copper still in currently minted pennies is worth more than the penny itself. With the decline in value of the Dollar and other paper currencies, there has been a movement to return to a monetary policy based on Sound Money, or Precious Metals; Gold, Silver, and even Copper.  However, We The People do not need to wait for the Federal Government, or even the States, to begin accepting and minting Gold and Silver currencies.  It is completely legal and acceptable to trade and barter in Gold, Silver and Copper.  In order to promote, and make this practice easier, an organization known as The American Open Currency Standard has begun standardizing the value

Throughout history Gold, Silver and Copper have been used as a medium to trade goods and services; this medium is also known as money.  The U.S. Constitution actually stated that only Gold and Silver could be used for the payment of debt.  Pennies, until recently, were made entirely of Copper mined within the United States, now even the small amount of copper still in currently minted pennies is worth more than the penny itself.

With the decline in value of the Dollar and other paper currencies, there has been a movement to return to a monetary policy based on Sound Money, or Precious Metals; Gold, Silver, and even Copper.  However, We The People do not need to wait for the Federal Government, or even the States, to begin accepting and minting Gold and Silver currencies.  It is completely legal and acceptable to trade and barter in Gold, Silver and Copper.  In order to promote, and make this practice easier, an organization known as The American Open Currency Standard has begun standardizing the value of metal coins in order to create a medium for consumers to buy goods and services from participating Merchants.  Currently this network of participating merchants numbers over 20,000 in the U.S., primarily in the South and Midwest.

The Standard Goes as Such:

• 1 Ounce of Copper = 2 Units (or Dollars worth of Goods and Services)

• 1 Ounce of Silver = 50 Units

• 1 Ounce of Gold = 2000 Units

While this system isn’t perfect, and for real fluid trade to occur merchants and consumers need to understand the value of Gold, Silver and Copper by weight vs. goods/services, this Unit System created by the AOCS is a great way of introducing the concept to communities and the general public.

There is a number of private mints that have pressed coins with a standard reverse side that signifies the Unit value of the coin and indicates that it is part of the AOCS Network.  These coins can be purchase at the AOCS Mint. Some of the coins have high minimums of purchase, but many of the participating mints have single coins available for purchase.  The AOCS Mint even has an Affiliate Program which will pay participants a commission in credit toward their coins for all referrals made.

Ideas on How to Participate and Promote Sound Money

1. Buy a number of Copper coins from the AOCS Mint and give them out to friends and family, and as addition tips at local restaurants and bars.  This will prompt a discussion on the concept of Sound Money and Community Economy.
2. Buy Silver coins and offer to purchase goods and services with them from local and peer merchants.  Offer them in exchange for your friends’ products and services; food from their garden, a music lesson, a massage, etc.
3. Buy Gold coins as a means of saving.  Give low denomination Gold coins as presents to friends and family.
4. Share and Post this article, and other related material on Facebook, Twitter or your personal blog.  Email your friends with a link to this article.
5. Sign up your business with the AOCS Merchants Network and begin accepting Gold, Silver and Copper for goods and services.

We do not suggest completely abandoning your paper money and credit cards, but we do encourage that if you wish to secure yourself and your community, against future economic instability, and ensure that the United States (and the rest of the world) has the ability to be financially independent and free, that beginning to purchase, hold, own, trade and barter Gold, Silver and Copper coins is the only alternative we have. We can create our own economy, our own market, to compliment and assist our current market through the hard times ahead.

Note: We suggest using the AOCS Unit System as a base for understanding how each of these metals relate to one another, but one should keep in mind that in the past, having Gold and Silver locked in value to one another has created problems when supply of either has changed drastically.

Thumbnail Image from CoinNews.net