When Is A Coin Really A "Coin"

Although I am forced accept a wide definition for a 'coin', I only collect coins that conform to a very narrow definition for what almost everybody would regard as a 'coin'.

If I was to propose very wide definition of what a 'coin' is, I would have to expect that there would be many and varied opinions as to what should be included and what should be excluded in that definition.

It is a coin if someone can directly use it, as legal tender, to settle a debt. Commemorative coins, bullion eagles, and proofs are all legal tender; they can be spent. We may not like it (bullion eagles being coins rubs me a little), but they are all coins by definition.

Heh. I was wondering if this topic was going to be about the Fortuna Redux when I saw the title, and I was right!

I actually bought one of these last year and it is a joy to behold. Is it really a coin, though? I'd say as much as any item produced by any mint specifically for collectors with only a nominal face value. That would include all the "coins with crap on them" (hologram stickers, embedded glass jewels, etc.) as well as any modern bullion coins that have a face value far less than their actual worth, including the American Silver Eagles and American Gold Eagles. It would also include the 5-ounce ATB pucks as well as the 1-10 kilo dinner plates that the Perth Mint puts out as part of the lunar series.

Which is to say that it's probably not "really" a coin, but then again neither is much of what the various mints are churning out these days unless specifically meant to be circulated and spent at face value.

As I said, though, I really do like my Fortuna Redux. It's not just another coin with something stuck to it but was the result of a wholly unique minting process. Plus, it's just truly amazing to behold.

The intricacies of Legal Tender don't make or break the status of whether it is a coin or not. Legal tender really only applies to settling a debt, whether a tender is acceptable for payment of a purchase (as opposed to a debt) is up to the parties involved.

For these reasons, legal tender cannot be used to determine whether something is truly a coin or just a disk with a face value.

The Half Cents mentioned above are coins because they were produced by a competent authority for the purpose of being used as money in commerce. Whether they were legal tender or not is immaterial.