Us Mint Gold Coins Legal Tender

In fact merchants can decide what they consider appropriate for payment.

Us mint gold coins legal tender. Pricing for precious metal numismatic products e g palladium platinum 24 k gold 22 k gold varies by the average cost of the underlying metal. The utah legal tender act was passed on march 10 2011 setting the stage for other states to pursue similar legislation. Cent coins are legal tender up to 25 cents. Examples include the world war ii d day 50th anniversary silver dollar and the george washington presidential coin tribute.

The ramifications of this are interesting. Since coins are not legal tender no one is obligated to take them in trade including the irs. Easy to buy and sell. These 50 gold coins are available to members of the public seeking a simple and tangible way to own and invest in 24 karat gold in the form of legal tender coins whose content and purity is guaranteed by the u s.

Pricing for bullion coins typically depends on the market price of the metal. The united states mint is the only entity in the united states with the lawful authority to mint and issue legal tender united states coins. Regular circulating demand for the coins will be met through the federal reserve bank s existing inventory of circulating coins minted prior to 2012. Today united states coins are essentially tokens and only paper money is legal tender.

Utah became the first state declaring us minted gold and silver coins as legal tender. Americans purchase more american eagle gold bullion coins than any other gold coin. Although these coins are legal tender they are not minted for general circulation. Visit the bullion dealer locator to locate a dealer bullion coins are not sold directly by the u s.

In february 2009 coin world reported that some 2007 abigail adams medals were struck using the reverse from the 2008 louisa adams medal. 486 it is a federal crime to pass or attempt to pass any coins of gold or silver intended for use as current money except as authorized by law. Produced by the united states mint department of the treasury these coins are available in four denominations. Each commemorative coin is produced by the united states mint in limited quantity and is only available for a limited time.

The united states mint does not sell its bullion coins directly to the public. As well as commemorating important aspects of american history and culture these coins help raise money for important causes. Our legal tender coin selection includes rare individual coins and sets that have never gained widespread circulation making them hotly pursued collectors items. Geithner directed that the united states mint suspend minting and issuing circulating presidential 1 coins.