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 Replies: 10 / Views: 1,431 |
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Pillar of the Community
United States
4691 Posts |
If this is wrong forum, moderator please move it. I came across this interesting circulated pattern coin today. My question is, are pattern coins legal tender? https://www.ebay.com/itm/277178014544 |
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Pillar of the Community
United States
1018 Posts |
If it was minted by the government and has a denomination clearly stated, I don't see how it can't be legal tender.
Some patterns have wear, showing they were likely accepted as tender at some point.
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Bedrock of the Community
 United States
10485 Posts |
No, not legal tender. Pattern coins are considered "Experimental Pieces". I think the Secretary of the Treasury has to accept the coin designs as "Money" before they cam can be declared legal tender.
Edited by Marv65
08/10/2025 01:59 am
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Pillar of the Community
 United States
4588 Posts |
Today, coins become money when they are transferred to the Federal Reserve account from the mint's. Then the mint sends them out to the contracted coin terminal on behalf of the Fed.
Back then? I think it had to do with which ledger recorded a piece. I think this came up in the Langbord case (1933 DEs) because of the argument that they could have been legally exchanged for older coins if they were ... somewhere like the teller's ledger.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Valued Member
United States
416 Posts |
Interesting it got circulated enough to wear down from a proof to a F15. So that's alot of people who saw it and said yep, good enough for me, one dollar it is. Similarly for 1792 Half Dismes and others, that would be an interesting topic, patterns that got out into the grind and were accepted as real money. |
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Bedrock of the Community
United States
10485 Posts |
Quote: So that's alot of people who saw it and said yep, good enough for me, one dollar it is. Similarly for 1792 Half Dismes and others Right - the gold plated "No Cents" V nickel  |
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Moderator
United States
187702 Posts |
Very interesting.  |
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Pillar of the Community
United States
3848 Posts |
United States issue coins, to be legal tender, need to be monetized in order for them to be legal to own and spent at face value. Before they are monetized, the coins are treated as bullion despite the form they take. Monetization is a little bit of a gray area, as seen by the Langbord 10-coin hoard of 1933 double eagles from the estate of Israel Switt. The coins were supposedly never released legally from the Mint and therefore not monetized. Considering most pattern coins were released as collectable issues for collectors, and left the Mint legally, I believe for these reasons they are monetized and are can be treated as legal tender. Quote:
Interesting it got circulated enough to wear down from a proof to a F15. So that's alot of people who saw it and said yep, good enough for me, one dollar it is. Patterns are similar to early Mint errors, they are different from common circulating coins and something interesting to discuss. Many people carried these types as pocket pieces which wore them down to the circulated grades you see today. The Fine-15 example above appears to be a pocket piece as noticed by the wear pattern. There were collectors back as well, and they would have quickly removed this coin from circulation before it was worn to this extent. Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Moderator
United States
94892 Posts |
very interesting coin and slab - PCGS calls it a PR15 (being an impaired proof I would imagine, but folks here are calling it a Fine-15.
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Bedrock of the Community
United States
17884 Posts |
In order to be legal tender it has to be an authorized design. That is why the 1856 FE is a pattern and not a coin, it has the same design as the last two years, but the design was not authorized until Feb ot 1857. The 1856 was not an authorized design. The metric dollar shown in the link was proposed but never authorized, so even though it circulated it was never legal tender.
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Pillar of the Community
United States
1018 Posts |
This is a pretty interesting thread to me. I collect 1c patterns (up to 42 of them now) and I never even had the thought that they would not be considered legal tender. Some of my pieces are fantasy strikings that were done on the overnight shift and backdated, so obviously those were never monetized (ownership of these might even be questionable?). I always just assumed that the mint stuck them with denominations on them, therefore they must be legal!
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Replies: 10 / Views: 1,431 |
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Posted 08/09/2025 7:10 pm
