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Are 'Odd' Denominations Still Legal Tender?

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SsuperDdave's Avatar
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 Posted 04/11/2015  09:59 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
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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Conder101's Avatar
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 Posted 04/11/2015  12:30 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Congress no longer orders the mint to make Half Cents, Two Cent, Three Cents etc. Does that mean they are no longer official US coinage?
Edited by Conder101
04/11/2015 12:30 pm
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MeadowviewCollector's Avatar
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 Posted 04/11/2015  1:00 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply

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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 Posted 04/11/2015  1:41 pm  Show Profile   Bookmark this reply Add january1may to your friends list Get a Link to this Reply

Quote:
Congress no longer orders the mint to make Half Cents, Two Cent, Three Cents etc. Does that mean they are no longer official US coinage?


Or Lincoln Memorial cents, eagle quarters, SBA dollars...
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jbuck's Avatar
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XavierOfGreen's Avatar
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 Posted 04/29/2015  1:29 pm  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
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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Conder101's Avatar
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 Posted 04/30/2015  11:41 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
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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 Posted 04/30/2015  12:08 pm  Show Profile   Bookmark this reply Add Groszy to your friends list Get a Link to this Reply
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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Mister Kairu's Avatar
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 Posted 04/30/2015  12:20 pm  Show Profile   Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
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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Conder101's Avatar
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 Posted 05/01/2015  11:14 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
"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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