Has any coin issued by the US Mint been demonitized?
zeebob
Posts: 2,825 ✭
Can I spend a 3CS at face? Or a $3 princess? Or do I go to jail?
edited: typo got --> go to
edited: typo got --> go to
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<< <i>Coin act of 1965 makes them legal tender.. Ill give you face value for either one of those
If you are my grocery store, and I'm pretty sure it's legal, you might very well have some 2C and a couple worn out 3CS coming your way. They aren't worth much numismatically and I feel in a mischievous mode.
<< <i>For some reason I thought Trade Dollars fell into that category. >>
They used to, but as has been already said, the coin act of 1963 made everything legal tender.
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bob
PS: is it now illegal to collect them?
<< <i>Trade dollars are the only ones at present that I know of.
bob
PS: is it now illegal to collect them? >>
The Coinage Act of 1965 made all coins made by the USA legal tender. I would assume this includes Trade Dollars.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Trade dollars are the only ones at present that I know of.
bob
PS: is it now illegal to collect them? >>
The Coinage Act of 1965 made all coins made by the USA legal tender. I would assume this includes Trade Dollars. >>
If someone were to go on that hypothesis that all coins are legal tender, I know someone with 10 1933 st. Gauden's that want them back asap so they can do what they want.
I would venture to guess that certain issues have been demonitized as for circulation, but ok to collect as authentic.
Trade dollar I believe is one.
<< <i>
<< <i>Trade dollars are the only ones at present that I know of.
bob
PS: is it now illegal to collect them? >>
The Coinage Act of 1965 made all coins made by the USA legal tender. I would assume this includes Trade Dollars. >>
It depends on how you interpret the term "Trade Dollar." If you interpret it as being a $1 coin, with the term "Trade" being purely a desciptive add-on without any connection to the actual denomination, then yes, the piece would be at-par with any other silver dollar. However, it you interpret the denomination itself to be a "Trade Dollar," with the word "Trade" actually being a portion of the name of the denomination, then the coin is actually a totally different denomination--and totally disconnected from the mainstream "Dollar." It's similar to the private Liberty Dollars---they weren't "dollars," they were "Liberty Dollars."
ok, how about US minted Philippine coinage?
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merse
<< <i>Some coins have been demonized, like Suzie Bs and those big ugly Ikes. Does that count? >>
The coin act of 1965 repeats that of 1933 that states all coins and currencies of the USA are legal tender. Nothing in the 1965 act changed anything in that regard.
Both of these are somewhat flawed in that they do not specifically undo the Trade Dollar legislation. The Act of 1965 has been replaced by subsequent legislation of simplified wording. It is something like USA money is legal tender for all debts and dues. Dues is new. Somebody found an old court case that ruled public dues are not debts.
<< <i>If someone were to go on that hypothesis that all coins are legal tender, I know someone with 10 1933 st. Gauden's that want them back asap so they can do what they want. >>
They're being legal tender doesn't mean they weren't stolen from the US mint.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Gold coin and gold notes were nationalized in 1933 but remained legal tender at face value. Folks who turned in gold coins in later years got face value for the coins.
Also, the 1933 double eagles were, and remain, legal tender coins. They were accepted by the Philadelphia Mint’s coiner, counted, bagged and entered in the cashier’s daily record.