Us Mint Gold Coins Legal Tender

As well as commemorating important aspects of american history and culture these coins help raise money for important causes.

Us mint gold coins legal tender.

When purchased in the form of legal tender bullion coins gold can be affordable as well as easy to buy and store. 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. Produced by the united states mint department of the treasury these coins are available in four denominations. Visit the bullion dealer locator to locate a dealer bullion coins are not sold directly by the u s.

Today united states coins are essentially tokens and only paper money is legal tender. Geithner directed that the united states mint suspend minting and issuing circulating presidential 1 coins. In fact merchants can decide what they consider appropriate for payment. 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.

Easy to buy and sell. 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. Since coins are not legal tender no one is obligated to take them in trade including the irs. Cent coins are legal tender up to 25 cents.

In february 2009 coin world reported that some 2007 abigail adams medals were struck using the reverse from the 2008 louisa adams medal. The united states mint does not sell its bullion coins directly to the public. Pricing for bullion coins typically depends on the market price of the metal. The ramifications of this are interesting.

The utah legal tender act was passed on march 10 2011 setting the stage for other states to pursue similar legislation. Examples include the world war ii d day 50th anniversary silver dollar and the george washington presidential coin tribute. 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. Although these coins are legal tender they are not minted for general circulation.

Our legal tender coin selection includes rare individual coins and sets that have never gained widespread circulation making them hotly pursued collectors items. Regular circulating demand for the coins will be met through the federal reserve bank s existing inventory of circulating coins minted prior to 2012. In december 2011 secretary of the treasury timothy f. Utah became the first state declaring us minted gold and silver coins as legal tender.