My latest and greatest NCLT-PEARL Crown

danglen

Some of the coins coming out of third world countries are pretty spectacular (unless you hate NCLTs) . Here is my latest offering

Northern Marianas-Pearl Diving Silver Crown

oldshep

Wowzers!!! That is a beauty - is the pearl attached firmly?
Shep

danglen

<< <i> Wowzers!!! That is a beauty - is the pearl attached firmly? >>



Haven't seen any rolling around in the AirTites yet

rhound1977

That is pretty neat.....

Askari

Amazing!! However, they're not really "legal tender" ... just try to spend these countries' NCLT in their "native habitats"!

danglen

<< <i> Amazing!! However, they're not really "legal tender" ... just try to spend these countries' NCLT in their "native habitats"! >>



Actually they ARE legal tender, but that's why they call them Non-Circulating Legal Tender (NCLT). The have to be authorized by the issuing authority. Kind of like our American Eagles, which sell for many multiples of their legal denomination, but nobody in their right mind would spend at WalMart.

Askari

I know they're legal, but some years ago, a couple of guys decided to see how many they could "redeem" (in the Marshals, as I recall) and bought a bulk lot from their wholesaler. It caused quite a stir -- to the point that the government passed a law to limit the quantity that could be redeemed to something like one per person per day ... which begs the question of to just what degree they're really "legal tender."

danglen

<< <i> I know they're legal, but some years ago, a couple of guys decided to see how many they could "redeem" (in the Marshals, as I recall) and bought a bulk lot from their wholesaler. It caused quite a stir -- to the point that the government passed a law to limit the quantity that could be redeemed to something like one per person per day ... which begs the question of to just what degree they're really "legal tender." >>



I believe the coins in question were $50 denominations, which was not real smart of the government in the first place. The trick is to make the denominations significantly smaller than the intrinsic value of the coin. When you add to that the fact that almost nobody will ever spend an NCLT, it makes for some fairly significant revenue for the issuing authority. On top of that, the cost of production is normally borne by the private company that is designing and producing the coin. So most of the third-world countries that issue NCLTs have very few expenses involved and can reap significant revenues from their production.