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Subsidiary Currency

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Author Previous TopicReplies: 4 / Views: 1,256Next Topic  
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Hollywood's Avatar
United States
1228 Posts
 Posted 06/10/2013  3:40 pm Show Profile   Bookmark this topic Add Hollywood to your friends list Get a Link to this Message Number of Subscribers

Quote:
When the Department of the Treasury sold unopened, original mint sewn bags of Morgan dollars at face value back in the ‘60s, it was an all-you-can-carry proposition... literally! Buyers had to carry the 60+ lb. bags out by hand â€" no carts allowed.

So let's say you bought your original mint sewn bags of Morgan dollars at face value and wanted to trade them in at the bank. Easy, right? Not so fast â€" you'd often get hit with a $50.00 handling fee! Even in the ‘60s, Morgan dollars were a subsidiary currency not worth its face value in bulk
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http://www.coinweek.com/commentary/...ck-infinite/
Bedrock of the Community
Conder101's Avatar
United States
17884 Posts
 Posted 06/11/2013  12:21 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
He is wrong. Lots of people used carts at the silver certificate silver dollar exchange, and there was no handling fee for depositing bags of silver dollars. The silver dollar has NEVER been a subsidiary coin and has always been exchangeable for its full face value and has had unlimited legal tender. Now the dimes, quarters, and half dollars WERE subsidiary and had limited legal tender and exchange limits after 1853, but even that was ended long before the 1960's
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baysinger626's Avatar
United States
950 Posts
 Posted 06/11/2013  3:32 pm  Show Profile   Bookmark this reply Add baysinger626 to your friends list Get a Link to this Reply
Yeah, those dollar coins are a pain. I will take them off your hands for their full face value and wont even charge a handling fee!
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 06/11/2013  4:21 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
I truly sympathize with all you deeply aggrieved owners of Morgan dollars and I sincerely feel your pain. Your pain and suffering bring tears to my eyes.

As part of my own personal effort to "give something back" to the community, I'd like to offer to take any and all Morgan dollars off of your hands for FV. In fact,
I'll even go for 10% over FV on BU and MS specimens. Help me to help you. Let me relieve you of your unwanted, burdensome, bothersome Morgans this week!
Pillar of the Community
baysinger626's Avatar
United States
950 Posts
 Posted 06/11/2013  4:48 pm  Show Profile   Bookmark this reply Add baysinger626 to your friends list Get a Link to this Reply
We are such a helpful bunch. lol
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