Are proof coins legal tender?

Answer While a proof coin is legal tender, it is typically worth more than face value. Since its only legal tender value is the face value of the coin, using it as legal tender would therefore be silly.Re... Read More »

Top Q&A For: Are proof coins legal tender

Is a U.S. Platinum Eagle legal tender?

U.S. American Eagle Platinum Bullion Coins are considered legal tender, according to the U.S. Mint. Their face value, however, remains mostly symbolic as they are meant for long-term investment.Ref... Read More »

Are postal stamps legal tender?

In the United States, postage stamps are not considered legal tender. They can be exchanged for goods or services if a person agrees to it. Stamps were used as currency during the Civil War.Source:... Read More »

When did paper money become legal tender?

The U.S. Congress first authorized the printing of paper money in 1861 in order to finance the Civil War. This money was called Demand Notes. Individual colonies had taken this step previously, how... Read More »

Are U.S. mint produced gold& silver coins legal tender?

U.S. mint gold and silver coins are legal tender; however, their worth in transactions is limited to their face value. Face value is the amount stamped on the coin itself, such as one dollar. The a... Read More »