If New Hampshire cut ties to DC and no longer participated in the union, what would we use for currency? Many people have asked this question, and some have openly admitted to being afraid of how we would function as a society without using ‘the mighty dollar’.
Gresham’s Law states that in a competition between currency, bad money will win out over good money over time, in other words, the average person will be more likely to use their US Dollars to purchase goods and services over their Goldbacks because the gold will maintain value, while the US Dollar won’t. Shaffer gave his answer to the dilemma of Gresham’s Law.
The New Hampshire goldbacks are unique and gorgeous, and the 10 features a lady sitting on a cannon, while the 25 includes the famous state motto of “LIVE FREE OR DIE”.
Unlike the Federal Reserve’s decreasingly valuable paper notes, the goldbacks contain within them a scarce commodity of inherent and time-tested value: gold.