I just started reading The Ethics of Money Production, and it got me thinking about IP, fraud, and currency.
If one copies a design on a coin of another private minter, how is this to be stopped, and is this fraud? The use of private money depends on the integrity of the minter. In an an-cap society, where no IP laws exist, does reproducing the same design or “trademark” on a coin matter as a violation of law? If one is inflating the money supply of a reliable minter by marking his commodity in the same matter, what is this? Since no exclusive right exists for an individual minter to or to not make money, is copying the design, regardless if it is on the same value coin or not, fraud since it is decreasing the value of the money by inflating supply.
Or is wether or not it happens absurd because people will just switch to another commodity money if prices rise by inflation of a different one?
i dont know that it would matter much at all except from an inflationary standpoint.
if the other ‘new’ minter was using the one of the casts from the ‘established’ minter with an identical gold (whatever commodity metal) content it would really be metal money production.
if the established minter only used a set amount of gold and never would add another ounce of money (or whatever unit of mass) perhaps then one could complain ‘i only wanted a limited amount of this type of coin.’
perhaps a numerical series of coins would work or other mechanism for proper identification if the particular design was so cherished in the market that other money users wouldnt want any more of that particular design rather than if the issue was additional same-commodity competing coins entering the market.
if it was truly a ‘private’ commodity coin then they could do a secret handshake before swapping the coin for assurance. a private (discreet?) market would take steps to limit a private coin.
so with a circulating coin ( a utility coin, iow) with an identical design, that an assay could determine as identical in content to an establsihed minter - i wouldnt really see what the problem would be with the exception of it being inflationary.
i suppose competing (same commodity) currencies would produce a similar outcome -
i would think the results of an assay (correct amount of metal as stated on the coin) would be of more concern that the design of the coin.