Subsidiary Currency - Coin Community Forum

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Author	Replies: 4 / Views: 1,256
Hollywood Pillar of the Community United States 1228 Posts	Posted 06/10/2013 3:40 pm Quote: When the Department of the Treasury sold unopened, original mint sewn bags of Morgan dollars at face value back in the â€˜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 â€˜60s, Morgan dollars were a subsidiary currency not worth its face value in bulk. http://www.coinweek.com/commentary/...ck-infinite/ Report this Post to the Staff

Conder101 Bedrock of the Community United States 17884 Posts	Posted 06/11/2013 12:21 pm 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 Report this Post to the Staff
baysinger626 Pillar of the Community United States 950 Posts	Posted 06/11/2013 3:32 pm 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! Report this Post to the Staff
Fat Freddy Pillar of the Community United States 1200 Posts	Posted 06/11/2013 4:21 pm 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! Report this Post to the Staff
baysinger626 Pillar of the Community United States 950 Posts	Posted 06/11/2013 4:48 pm We are such a helpful bunch. lol Report this Post to the Staff
	Replies: 4 / Views: 1,256

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