Has anyone ever spent silver or gold for its legal tender value?

Discussion in 'General Precious Metals Discussion' started by ozziestacka, Oct 17, 2020.

  1. ozziestacka

    ozziestacka New Member

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    I've been curious if anyone has ever done this? More to see the reaction of the cashier who would probably never have seen the precious metals and would reject them. I wonder how high you'd have to go up in management to get them to accept it?

    Not that I'd ever do this, but no matter how I look it up in a search engine I don't find any story other than people accidentally spending American coins with some silver content or the occasional 1966 round 50c coin.
     
  2. hardyakkagold

    hardyakkagold Well-Known Member

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    Yes ozziestacker, back in the nineties impatience got the better of me waiting for the $200 gold coin prices to rise higher than the legal tender value,
    so I said bugger this and took a whole stack of them to my local bank and deposited them into my account.
    The teller didn't bat an eyelid, I recon it would be different if someone did it now days.
    Oh, and I made sure to rub the coins together to destroy their numismatic value just encase the teller or the other bank workers wanted to exchange
    their paper dollars for my gold coins.;)
     
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  3. Davros10

    Davros10 Well-Known Member Silver Stacker

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    Same time, same reasoning, but I took one to the newsagent and bought a newspaper. Ended up taking about 10 mins to convince them to take it. They kept trying to get me to take it to the bank, I said "no, it's legal tender that I want to spend here"
     
  4. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    Has anyone ever spent silver or gold for its legal tender value?

    It's legal tender but not for Circulation.
    Shop can refuse to take them.
    Mind Alibaba do have lot of fakes one these days.
    Even $2 there are fakes out there. :eek::rolleyes::rolleyes::rolleyes:
     
  5. hardyakkagold

    hardyakkagold Well-Known Member

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    Funny thing is that I never had any issues using the $200 koalas to pay for purchases on a number of instances back then also.

    One time I was driving home to Melbourne from the Gold Coast along the Newell Highway when my car broke down in the middle of nowhere.
    I had to call a mechanic to come out and fix it for me and the bill came to a few hundred dollars, which was about $200 more than the cash
    that I had on me at the time.
    I had a couple of the $200 gold coins on me which I kept on me for emergencies, so I asked the mechanic if he would take one together with the cash
    for payment of repairs.
    He said sure no worries, as if it was the most normal way to pay for things in the world.
    That really surprised me and was not what I expected to hear at all.
    I think a lot of the people in the bush are much smarter than city dwellers when it comes to intelligence in things that really matter.
     
  6. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    here there everywhere
    Yes I spent 2 X $10 State coins for a counter meal at the Inkerman hotel about 8 years ago
     
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  7. Ag bullet

    Ag bullet Well-Known Member

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    Yep
     
  8. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Libertads are used in mexico. They are legal tender there.
     
  9. mistered

    mistered Member

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    Not me, but my grandparents. They migrated from UK to WA in the 1920s. Grandad worked for the railways and was paid in cash (as was everyone in those days). Even after decimalisation he was a cash only guy. After he passed, I found his old coin holder with spade guineas, sovs and half sovs. Hard to believe he used them for the weekly shopping, now worth thousands
     
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  10. ozziestacka

    ozziestacka New Member

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    Great to hear of people using them. Very interesting.
     
  11. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    No, I wonder how it would fly now to try and deposit a Lunar into my bank account? The Milennial beind the counter would probably throw up a "tilt" lamp.
     
  12. Horrie

    Horrie Active Member

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    I’ve never knowing, however as a young fella working a cash register job I recognised 4 x round 50’s some had paid with. Traded them out for 2 bucks of my own and thus began my silver journey!
     
  13. alor

    alor Well-Known Member Silver Stacker

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    junks silver got spent, dime quarters for sure
    sometimes, not everyone keep the 90% silver
     
  14. Acorn

    Acorn Active Member

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    I remember as a kid spending threepences, sixpences, shillings and florins. When decimal was introduced, I remember spending round fifties.
    I remember our neighbour had an old laundry shed full of Coke and Fanta bottles. She said I could take them all down to the corner shop and keep what I got for them. I got 3d for each of the small bottles and 6d for the big bottles. I thought it was fantastic! I remember that kept me going to a long while.
    Back then too, there was no bread baked on weekends. Mum gave me a shilling to buy my lunch at school on Mondays. I’d go down to the fish & chip shop and buy a shilling of chips. It was like getting $5 worth today. I always seemed to have more friends at school on Mondays!
     
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