? asked in Politics & GovernmentLaw & Ethics · 2 months ago

Is it legal to spend expensive coin to purchase base on face value on the coin itself?

I looked online over legal tender coins. It's worth much more than what it said on the coin itself. It say yes can be spend money at anywhere or even deposit to the bank but only what the amounts it said on coin.

I looked online list of United State of America coins. It said it approved by government to use to spent money.

Example silver eagle dollar coin it said one dollar on it but it worth 27 dollars if sell on auction.

Second example: pure gold coin that say 50 dollars on it. It worth several thousands dollars but if you want to spent it at retail or restaurants as 50 dollars worth of service or inventory.

Can it legally spent at anywhere in USA?

I know it's terrible way to investment but can still spend it as a legal money?

2 Answers

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  • 2 months ago
    Favorite Answer

    you can sell those coins by weight of gold / silver to bullion dealers rather than spend them at face value

  • 1 month ago

    The American Silver Eagle coin has a legal tender face value of $1 USD meaning you can legally use them in commerce in place of one paper or digital $1 fiat Federal Reserve note's value.

    The American Gold Eagle coin has a legal tender face value of $50 USD meaning you can legally use them in commerce in place of one paper or digital $50 fiat Federal Reserve note's value.

    Investors buy Silver Eagle Coins

    https://youtu.be/JOSK1ELRuqg

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    and the Gold Eagle Coins

    https://youtu.be/tQg-dKjji0M

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    as stores of value based on their precious metals content.

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