The Most Fascinating U.S. Currencies You've Never Seen

On July 11, Congressman and U.S. Presidential candidate Ron Paul made the bold statement of suggesting that monetary reform should be an issue of national policy. Rep. Paul wrote that "currency is sound only when it is recognized and accepted as such by individuals, through the actions of the market, without coercion." Rep. Paul also stated that "people around the world are flocking once again to gold and silver ... to replace their rapidly depreciating paper currencies." In a move to displace the "government monoply on the issuance of money", Rep. Paul recently introduced a bill to eliminate "obstacles to the circulation of sound money." In an environment of economic uncertainty, Rep. Paul suggests that "sound money" is better chosen by individuals rather than through government coercion. These claims suggest that Americans could use alternative currencies such as gold and silver to compete against the dollar. The use of a local currency would not be new to various regions of the US. In the Berkshires region of Massachusettes, a local currency known as the Berkshares exists and is used to spur local business. Another example of a local currency is the Ithaca HOUR, which is used in Ithaca, New York. With a falling US dollar, could widespread use of alternative or local currencies in various regions of the US be the wave of the future? Below are five purely hypothetical currencies that could one day serve as competition to the US dollar in American society. 1. Name: The Texan Dollar

• Symbol: TX$ or Ŧ
• Value: Pegged to an ounce of silver.
• Region: Texas.

It is said that everything is bigger in Texas, and what dollar on the planet could be bigger than one backed by an ounce of silver? As Gov. Rick Perry has previously noted, Texas is known for being "a very unique place" and a "pretty independent lot to boot." Might Texas one day assert its independence and institute a state-sanctioned, silver-backed competitive currency against the US dollar? 2. Name: The Floridian Peso

• Symbol: Philippine peso sign
• Value: Possibly backed by silver or pegged with a basket of the US dollar and Mexican peso.
• Region: Florida.

The Spanish dollar, or peso, was at one time legal tender in the United States. How ironic it is then that even today some Spanish speakers refer to the US dollar as the "peso". Perhaps one day households will have to convert their US dollars into Floridian pesos when they head to Orlando or Miami for vacation. 3. Name: The Great Lakes Guilder

• Symbol: ƒ
• Value: Possibly backed by silver or some other valuable commodity.
• Region: Great Lakes region; Michigan, Ohio, Pennsylvania, Indiana, Illinois, Wisconsin, Minnesota.

With all the struggling industries and rampant unemployment in Michigan and Ohio, a competing local currency could prove to balance the Great Lakes region's interests with those of the East Coast and West Coast. Where Wall Street may have a say in the value of the US dollar, the Great Lakes guilder would be in the homespun hands of Midwestern Main Street. Though the concept may sound far-fetched, one must admit that the sound of a "Great Lakes guilder" has a nice ring to it. 4. Name: The Deseret Dollar

• Symbol: Ð
• Value: Backed by silver and/or gold.
• Region: The Mormon Corridor; Utah, Idaho, Colorado, Nevada, Arizona.

The governor of Utah recently signed a bill that "recognizes gold and silver coins issued by the federal government to be legal tender in the state." Further, the State of Deseret at one time was a provisional state proposed by the Latter-day Saint settlers in Salt Lake City though Deseret was never officially recognized. Could a currency called the Deseret Dollar one day be used throughout the Mormon Corridor? "With God, all things are possible." A possible slang term for the Deseret currency could be "ziff" -- alluding to a precious metal mentioned in the Book of Mormon in the same context as gold, silver, and copper. 5. Name: The Californian Carbon Coastal Credit

• Symbol: (C)
• Value: Tied to energy production and consumption.
• Region: California, Oregon, Washington.

The idea of a currency tied to one's carbon footprint is not a novel one. As California pushes forward toward a cleaner, greener, and more efficient economy, the Californian Carbon Coastal Credit may set an example as a new "gold standard" in helping the environment. This concept would tie cleaner energy, reducing carbon emissions, and environmental conservation into every aspect of citizens' financial choices. And as many science-fiction fans can appreciate, it only makes sense that we would be using a currency known as "credits" in the future.