A growing number of Americans strongly want to see us go back to what they call “honest money”. When I hear this term, I think of physical gold, silver or copper medallions, as well as anything else that can be found valuable and easily traded. I wonder, though, how many of these folks have actually used honest money? Do they expect it to be easy?
Minted medallions are heavy, bulky and loud. It’s hard to make change with them. They are anything but practical. In fact, there’s really nothing easy about honest money. It may be one of the reasons traders moved away from it and replaced real money with warehouse receipts, legal tender, and eventually, 1’s and 0’s. So what’s the best way to reverse the trend?
We didn’t switch overnight from gold and silver to where we are now. The evolution took hundreds of years. Generation after generation, each of which knowing less about the historical importance of honest money, slowly [and nearly completely] abandoned their property in favor of a more convenient and portable monetary system. It’s highly doubtful that a single generation can both realize the problem and create a solution that catches on.
For me, I look for opportunities to create bridges between the world we live in now (where many know nothing of fiat money’s problems) and the obvious goal we would like to reach. While I certainly like to think that our generation, using instantaneous communication tools like the Internet, can shift the way people think, live and act in a very short period of time, I believe that if we intend to succeed, we must find small and seemingly insignificant opportunities to plant seeds of change. It’s the key reason behind launching the Coin of the Realm.
First, I must say that I can’t take credit for the idea. It was explained to me while attending the 2010 Libertarian Party of Texas convention by a party member (who’s name I can’t remember). The idea was so simple, it took only a moment for me to see its brilliance.
“Why not go to Renaissance Faires and get the attendees and vendors to use copper medallions as they trade throughout the Kingdom?”
The idea is absolutely genius. At a Faire, you have limited access and a captive audience that aims to spend time at the event in character. Many people dress up, use strange olde English accents when speaking to other characters, and trade tickets or cash for all kinds of trinkets, turkey legs and ale.
“You can make a series of copper medallions featuring notable royalty from the Renaissance, and have attendees exchange cash for the tokens upon entering the event. You can even call it ‘Coin of the Realm’. Then, when they want to buy something, they can pay for it with the coin of the realm.”
Is it the mission of the American Open Currency Standard to outfit event managers and promoters with copper tokens? No. But it does remind me of a lesson I learned a long time ago that goes by the catchphrase “fake it till you make it”, and that just may be exactly what we need for a new monetary system to catch on.
And so, nearly a year later, I’m VERY proud to announce the commencement of our latest endeavor, Coin of the Realm. We managed to luck out and get a cool domain name, and while the site is still a work in progress, we have our first four 1oz medallions minted that are already shipping to Faires far and wide.
The concept works for more than just themed faires. It can work for any type of event that uses coupon or voucher-based payment systems: county fairs, amusement parks, and many other event managers will quickly see the benefit of using a commemorative token to decrease fraud and increase customer “take-away”, a term used to describe attendees that purchase tickets and choose to not spend them.
So, we’re calling out to our fans for assistance in finding events that may benefit from such a concept. Help us warm folks up to the idea of honest money in a format that’s fun, good-natured and peaceful. If all goes well, you may just be the next person to trade a two crown King Henry for a turkey leg.