2⢠Trivia

Still looking for the correct answer for part 3 of the question.

might be way off here but wasn't there a coinage act in 1965 that revoked the legal tender status?

Flook has the final answer but not entirely. The Coinage Act of 1965 made ALL coins legal tender for unlimited value.


The Coinage Act of April 22, 1864 legislated the creation of the 2-cent piece (among doing other things) and gave it a legal tender status of 20 cents.

Then, the Coinage Act of March 3, 1865 reduced it down to 4 cents!

Finally the Coinage Act of July 23, 1965 gave it and all U.S. coinage unlimited legal tender status.

Great questions.

I don't know the answer to how people were notified. I'm guessing that new legislation was reported in local newspapers and the merchants/customers read about it in there.

Why 20 cents? I'm guessing here, but it's probably because the legislators wanted to limit the number of coins that any merchant was obligated to take in a single transaction and 10 coins seemed reasonable. Also, the same number of coins (total of 10 cents) is what legal tender was set for the 1864 new French Bronze cent.

Why 4 cents? That's a LOT more complicated. Basically there was some political clashing going on at the time of trying to push through the Three Cent Nickel legislation and the "nickel side" in a fit of triumph of getting the new composition for the coin through forced the 1 and 2 cent denominations to be lesser legal tender. This had the side effect of promoting the new Three Cent Nickel which was allowed legal tender to 60 cents!

One comment, the Two Cent Piece actually achieved unlimited legal tender status in 1933. Don't remember the exact date and the information is on my other machine which is down at the moment. But in 1933 there was a clause passed which gave unlimited legal tender status to all US coins whenever they were made.

It also happened in 1933.

Found it June 5th 1933 House Joint resolution 192 Sec 2

"All coins and currencies of the United States (including Federal reserve notes and circulating notes of Federal Reserve banks and national banking associations)hereunto and hereafter coined or issued, shall be legal tender for all debts, for public and private, public charges, taxes, duties, and dues, except gold coins, when below the standard weight and limit of tolerance provided by law for the single piece, shall be legal tender only at valuation in proportion to their actual weight."

Approved June 5,1933, 4:30 p.m.

Seeing conder's post, something must have changed, because I remember reading that Trade dollars sold for $.85 back in the 50s, and even today, you can buy a $10,000 gold certificate for less than face.

Sorry I missed this topic at the star but I have only just managed to establish an internet connection.
the 1933 law is new to me to in regards to 2 Cents I was only aware of the 1965 act but that does not mean Condor is not correct the 1965 act might have superseded the 1933 act...