What does NCLT mean?

Manorcourtman · August 4, 2007 9:12AM

Please explain for the new people here.

FatMan · August 4, 2007 9:13AM

Non Circulating Legal Tender

FLBuffaloHunter · August 4, 2007 9:13AM

Non Circulating Legal Tender i.e. The modern stuff the mint sells.

Manorcourtman · August 4, 2007 9:14AM

<< Non Circulating Legal Tender >>

Bravo!! Thanks!!

Zoins · August 4, 2007 9:26AM

NCLT is generally used to refer to coins that have a token face value far below the intrinsic value at issuance and hopefully for a long time into the future. Because of this, the issuer often believes the coins will never be used for commerce and can be sold as collectibles without affecting the money supply. Both large countries and small countries issue these coins to collectors as a way to make money. Because the token face value is far below the metals intrinsic value, the coins should never circulate as money. The legal tender face value can be considered a gimmick to market what are essentially medals to people that like coins. Collect what you like but just be aware that NCLT aren't intended to be actually used as coins.

howards · August 4, 2007 10:16AM

No Collectors Like These.

goldboy · August 4, 2007 10:26AM

<< Collect what you like but just be aware that NCLT aren't intended to be actually used as coins. >>

Hmmm, I always wondered about that and I was quite sure noone (that I knew anyway) would splurge a $50 gold buffalo on sneakers

thanks for the info guys

notwilight · August 4, 2007 10:54AM

I just had to explain this to an ebayer looking at my listing asking how I can ask over $1000 for a coin that said $50 stamped on it by the US Mint. His tone wasn't bashing and he apologized for being a newbie. I pointed out that it had almost $700 worth of gold in it even without the high grade by PCGS. Of course classic coins that were originally meant to circulate but are now worth thousands or even $1.9 Mil for one thin dime (recent 1894 S sale handled by wondercoin for justhavingfun in case you've been sleeping) have become defacto NCLT.

--Jerry

rec78 · August 4, 2007 10:56AM

No Collectors Like These.

REAL coin collectors do not like these.

Zoins · August 4, 2007 10:58AM

<< 

<< No Collectors Like These. >>

REAL coin collectors do not like these.

>>

No reason for that IMO. Collect what you like.

ziggy29 · August 4, 2007 10:59AM

<< Of course classic coins that were originally meant to circulate ... >>

True, except for proofs. And this fact is one of the reasons why many collectors prefer business strikes over proofs.

Zoins · August 4, 2007 11:02AM

<< 

<< Of course classic coins that were originally meant to circulate ... >>

True, except for proofs. And this fact is one of the reasons why many collectors prefer business strikes over proofs. >>

True, and this applies for collectors of moderns as well as classics.

Some people also consider some classic business strike coins from the Bland-Allison and Pittman Acts to be de facto NCLT.

ziggy29 · August 4, 2007 11:03AM

<< Some people also consider some classic business strike coins from the Bland-Allison and Pittman Acts to be de facto NCLT. >>

Aw, heck, don't beat around the bush -- just go right ahead and say "Morgans."

bushmaster8 · August 4, 2007 11:32AM

A horrible type of ritual mutilation performed in some 3rd world countries.

What does NCLT mean?

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