Reach into your pocket. Find a penny. Find a dime. Observe that the dime is worth 10 times as much as the penny and yet is physically smaller than the penny.
That, my friends, is the magic of fiat money. The size of the object is unrelated to its value. By the same token a $100 bill is physically the same size as a $1 bill. So when you hear about the idea of exploiting the platinum coin loophole by minting large-denomination platinum coins, don't imagine physically gigantic coins. Platinum is expensive! It would be enormously wasteful to finance the government with physically large coins. The idea would be to take more or less regular sized coins and write large numbers on them. That's just good sense. A physically enormous coin is silly.
TODAY IN SLATE
More Than Scottish Pride
What Charles Barkley Gets Wrong About Corporal Punishment and Black Culture
Why Greenland’s “Dark Snow” Should Worry You
Three Talented Actresses in Three Terrible New Shows
Why Do Some People See the Virgin Mary in Grilled Cheese?
The science that explains the human need to find meaning in coincidences.
Happy Constitution Day!
Too bad it’s almost certainly unconstitutional.