When did paper money become legal tender?

Answer 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 »

Top Q&A For: When did paper money become legal tender

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 »

Are proof coins legal tender?

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 »

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 the ten pound notes with Charles dickens picture still legal tender?