Patrick Elliott wrote:
> Enlighten me how they are not then.

Fiat currency is when someone says "Accept this otherwise worthless item as 
money, or we will hurt you."

> In the end, the value is what you can spend it on. If no one wants 
> it, there isn't any difference in value between a $1 coin and a $1 piece 
> of paper.

No, that's exactly the difference.  If nobody wants dollar bills, you still 
have to accept them, as a matter of law, as legal tender. You don't get to 
say "Sorry, I don't think this piece of paper is worth a dollar."

-- 
Darren New, San Diego CA, USA (PST)
  "How did he die?"   "He got shot in the hand."
     "That was fatal?"
          "He was holding a live grenade at the time."

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