Federal Copper not legal tender?

Leiana

I was reading in a book that Federal Copper coins (large cents and half cents) were not legal tender! I have never heard this before, but apparently people could refuse cents if they wanted to be paid in silver! That's one of the reasons for trimes.

Any other information to share? Specifically, are cents legal tender today? If so, when did their status change? Did this apply to two cents?

Thanks!

-Amanda

TomB

After the US Mint commenced production of small cents there was a redemption period where banks and other businesses had to accept large cents and half cents. However, that redemption period was over before the Randall Hoard of large cents was found, which was shortly after the end of the Civil War, and this is part of the reason why we have these wonderful Randall Hoard coins today.

DickyBetz

Legal tender does not mean that you have to accept the coin as payment. A merchant can refuse any kind of US coin. Take gas stations that wont accept $100 bills for example.

The real reason that the trime was made was because of a national silver coin shortage in the early 1850's due to hoarding. The trime gave a small coin that could be used in day to day transactions until the problem could be fully remedied with the passing of the Law of 1853 that started the minting of subsidiary fractional silver coinage.

michael

oh they are legal as per the c oinage act of 1965

andif for some reason are still not legal tender

i am the usa north american contitent redemption centre for these usa copper large and half cents
send them to me and i will redeem them for you in usa federal currency and then your postage costs and a free coupon to burger queen for a super size fries icy coke and whopper sandwich with cheese

Ricke

I read something similar to this in Smith's "wealth of nations". In his explination, he was discussing that England was a silver based economy, and gold was officially pegged to silver, however copper was not officially monetized and was only offered to meet the needs of transactional market change.

Today, of course, we do not associate the value of our monetary system on precious metals.

"Originally, in all countries, I believe a legal tender of payment could be made only in the coin of that metal, which was peculiarly considered as the standard or measure of value. In England, gold was not considered as a legal tender for a long time after it was coined into money. The proportion between the values of gold and silver money was not fixed by any public law or proclamation; but was left to be settled by the market. If a debtor offered payment in gold, the creditor might either reject such payment altogether, or accept of it at such a valuation of the gold as he and his debtor could agree upon. Copper is not at present a legal tender, except in the change of the smaller silver coins. In this state of things the distinction between the metal which was the standard, and that which was not the standard, was something more than a nominal distinction. "
Book I, Chaper V

Leiana

Interesting.

Thanks!

-Amanda