In the UK, the definition of 'legal tender' is often misunderstood. Acquiring commemorative coins can deliver a degree of personal satisfaction. In the case of bullion coins, where the coin’s intrinsic value comes courtesy of the precious metal content, there is no doubt that you are getting something that can be exchanged for its face value (although, as the precious metal value is usually much higher, this would be a mistake). As we’ve already touched upon, a commemorative coins’ value will be much higher than its face value if it’s rare. The origin of the word is from Middle English tendren, French tendre (verb form), meaning to offer. Commemorative coins issued by the Bangko Sentral ng Pilipinas (BSP) can be used purchase goods or services as these are deemed legal tender, the central bank said on Wednesday. +44 (0) 1926 499031 They are legal tender throughout the euro area. These special coins are legal tender, but people mistakenly think that means they can use them like any other coin. Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. The Royal Mint often sells these commemorative poof coins boxed with certificates of authenticity. However, only ‘circulating legal tender coins’ can be spent and traded with banks or a business. In theory, they could circulate but they don’t because their ‘spot’ value or collectable value is significantly higher than their legal tender issue price. 1994 Gold Proof 50p piece: Issued to celebrate the 50th Anniversary of the Normandy landings in World War Two, it is slightly bigger at 30mm diameter and contains more gold than current issues. If you really want rid of your commemorative coins, you can cash them in at large Post Offices. +44 (0) 1926 491906 That means they can be used – and must be accepted – just like any other euro coin. Please call 01926 499 031 for an appointment in the first instance. When calculating the value of a commemorative coin, our experts always consider the following factors: In our experience, coins which have been minted to celebrate specific events tend to be more popular with both collectors and the public. As a result, the coins were branded worthless by the paper. Commemorative coins may vary in size with the ordinary circulation coins. You can find a list of reputable coin dealers on the British Numismatic Trade Association website. In most cases, but not exclusively, the proceedings are royal occasions such as a Diamond Jubilee or Royal Wedding. Although these coins are legal tender, they are not minted for general circulation. As with other everyday coins, these tend to be made from base metals. 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. In truth, it does not mean they can be accepted by banks, shops or businesses for cash transactions. For non-circulating legal tender and bullion coins, the precious metals from which they have been struck already exceed their face value. In order to comply with the very strict rules governing an actual legal tender transaction it is necessary, for example, to offer the exact amount due because no change can be demanded. For example, 1p and 2p coins only count as legal tender for any amount up to 20p. The U.S. Mint's modern commemorative coin program began in 1982. The obverse of Australian legal tender coins must feature the approved effigy of Her Majesty Queen Elizabeth II. After all, they’re an attractive item to have on display. Actually mean that the coins and open a savings account for their cash value spend them anyway them... Coins legal tender status means and which bank notes are affected plenty of choice as. 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