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Replies: 40 / Views: 5,371 |
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Valued Member
United States
75 Posts |
And would silver certificates and gold certificates be considered semi-demonetized as they are still legal tender at their face value for all debts public and private but have lost their power to be redeemed in their respective precious metals.
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Bedrock of the Community
Australia
21786 Posts |
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Valued Member
United States
212 Posts |
Any bills that are considered "greenbacks" or whatever the heck you call it are still legal tenders. I'm guessing any coin issued by the mint is still a legal tender, other than the Trade dollar. Imagine just walking into a post office and buying a stamp with a 3 cent nickel.
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Pillar of the Community
1153 Posts |
you think the bank teller would give you a weird look if you tried depositing at 1797 silver dollar instead of the 1979 SBA?
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Moderator
 United States
188415 Posts |
I am giving you a weird look for even suggesting it. 
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Moderator
 United States
23522 Posts |
The official coinage of the United States is that which Congress orders the Mint to produce for circulation in the US. It's pretty unequivocal.
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Bedrock of the Community
United States
17884 Posts |
Edited by Conder101 04/11/2015 12:30 pm
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Pillar of the Community
United States
4409 Posts |
Quote: I'm guessing any coin issued by the mint is still a legal tender, other than the Trade dollar. As mentioned earlier in this thread, the Trade dollar had its legal tender status restored with the Coinage Act of 1965.
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Pillar of the Community
Russian Federation
5173 Posts |
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Moderator
 United States
188415 Posts |
Define official. 
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Pillar of the Community
United States
2589 Posts |
If I remember correctly, the Coinage Act of 1965 has been interpreted to also have made all pattern coins produced by the US Mint legal tender (so long as they were made prior to that year).
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Bedrock of the Community
United States
17884 Posts |
Probably has been, but shouldn't be interpreted that way. The Coinage Act made all US coins legal tender no matter when they were struck, but patterns aren't coins because they were never authorized for production.
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Pillar of the Community
United States
589 Posts |
But have pattern coins been monetized? That's the question. As that's what the government used as a legal defense for the '33 St. Gauden's Double Eagles, as they weren't monetized they were still the property of the government...semi-indicating that patterns must have been monetized as (most of them) are legal to own.
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Pillar of the Community
United States
1911 Posts |
Just for the record... if anyone wants to see if this works at a store let me know and I'll be right behind them in line to pick it up after them.  Interesting thread though. Depends on the establishment I would assume even if it technically is legal under law most places I could see not taking them since everyone would think they were fake. 
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Bedrock of the Community
United States
17884 Posts |
"Monitzed" is an interesting "weasel word". I had never seen the word applied to US coinage until the 1933 double eagle fiasco. The government used the claim that the coins were never "monitized" because they were never turned over to the Federal Reserve and because of that they were not really coins and still belonged to the government. Well NONE of the US coins were turned over to the Federal Reserve before 1913 because it didn't exist. So how were those coins "Monitized"? Also as soon as the coins are struck the government treats them as coins, records the seigniorage and transfers it to the general fund even before the coins get shipped to the Fed. So the government seems to think they are money even though they aren't "Monitized". They don't count any seigniorage on patterns so they don't consider them to be coins. So I would say they are NOT "monitized". But they are legal to own, at last those up to 1890, Legally those after that aren't legal, but the government hasn't tried to confiscate them. Except of course for the 1974 D aluminum cent which they claim they never made. They have made noises about how the 1974 aluminum cents and the 1974 bronze clad steel still belong to them, but they have never made any attempts to reclaim them. They have also made no comments about the various Martha Washington patterns that have appeared on the market or the various 1916 Mercury dime and Walking Liberty half patterns that come up from time to time.
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