Us Mint Gold Coins Legal Tender

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

Us mint gold coins legal tender.

Today united states coins are essentially tokens and only paper money is legal tender. 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. The utah legal tender act was passed on march 10 2011 setting the stage for other states to pursue similar legislation. In december 2011 secretary of the treasury timothy f.

Produced by the united states mint department of the treasury these coins are available in four denominations. The united states mint does not sell its bullion coins directly to the public. 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. Since coins are not legal tender no one is obligated to take them in trade including the irs.

Utah became the first state declaring us minted gold and silver coins as legal tender. The ramifications of this are interesting. 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. 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.

Visit the bullion dealer locator to locate a dealer bullion coins are not sold directly by the u s. Each commemorative coin is produced by the united states mint in limited quantity and is only available for a limited time. 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.

When purchased in the form of legal tender bullion coins gold can be affordable as well as easy to buy and store. Although these coins are legal tender they are not minted for general circulation. The united states mint also produces and makes available to the public bronze medal duplicates of the first spouse gold coins which are not legal tender. Pricing for bullion coins typically depends on the market price of the metal.

Examples include the world war ii d day 50th anniversary silver dollar and the george washington presidential coin tribute. Americans purchase more american eagle gold bullion coins than any other gold coin. Cent coins are legal tender up to 25 cents. Easy to buy and sell.