Asked by: Freya Utterhobbies and interests stamps and coins
Are silver jubilee coins legal tender?
Last Updated: 9th January, 2020
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Accordingly, are silver coins legal tender?
TheAmerican Silver Eagle coin has a tender valueof $1. It is possible to use this coin as legaltender, but because the value of the silver greatlyexceeds the face value of the coin, this is notrecommended.
Secondly, are commemorative coins legal tender? Commemorative coins have a value, just not oneyou can use in the shops or banks. These special coins arelegal tender, but people mistakenly think that means theycan use them like any other coin. It does not actually meanthat the coins can be accepted by banks, shops andbusinesses for cash transactions.
Also Know, are silver Britannias legal tender?
Silver Britannia coins can be used aslegal tender, which means they will be accepted for paymentof a debt but only at their nominal face value - even though theiractual value exceeds this amount due to the quantity of puresilver the coin contains.
Do Commemorative coins have any value?
As they are not circulating legal tender, banks andbuilding societies have never been obliged to acceptcommemorative coins. “The value of acommemorative coin – that is, non-circulatingcoins – is as a collectable item. They aretreasured for their aesthetic and collectable or rarityvalue,” says Manders.