Gov issued. Sorry "In Australia, the creation of legal tender, in the form of notes and base metal coins, is the exclusive right of the Commonwealth Government."
ISO4217 gives it legal status as currency. Provided it is actually made of what it says it is. Legal Tender is a different question. If an XAG walked into a bar in Utah, is it a coin then?
House is talking about definition of "Legal Tender" the original question was about "coins" or "rounds". ASEs are not issued by the Commonwealth of Australia, but they are still coins.
I'm saying that for something to be called a coin it must be issued by a government. Legal definition of a coin- "A piece of gold, silver or other metal stamped by authority of the government, in order to determine its value, commonly called money." and the dictionary defintion- "A small piece of metal, usually flat and circular, authorized by a government for use as money." Defintion of a round- "A round is a precious metal disk usually issued by a private entity and not intended to circulate as money, and which is stamped or struck with images or devices, and sold to collectors and investors as a collectible. Rounds look very similar to actual coins, and it is common to see the term coin used incorrectly where round is really the proper term. QED TIL; "The origin of the term "legal tender" is from Middle English tendren, French tendre (verb form), meaning to offer. The Latin root is tendere (to stretch out), and the sense of tender as an offer is related to the etymology of the English word extend (to hold outward).[2] The noun form of a tender as an offering is a back-formation of the noun from the verb."
XAG 'is' intended to circulate as money. It is not intended in any way to be collectible. Were always sold on a spot basis. Just cause some have achieved notoriety doesn't make them magically turn from a coin into a round. Some dictionary definitions I have seen don't mention Governments, or use the word 'usually'. Will have a look at a few defs later.
Rounds. From the horses mouth, so to speak: Source: http://www.intrinsictender.com/what-is-intrinsic-tender/ and Source: http://www.intrinsictender.com/catalog/silver-stackers-xag-penny-double-mirror/
^^^ Sic 'im Rex! :lol: Thanks for the intrinsic tender quotes whinfell. Sort of stuffs my theory but I dont mind.
... Usually ... They aren 't made by a government. They are officially recognized by the government as currency. XAG is officially recognized by most governments as currency. It's not commissioned specifically or owned by any government. There is a good argument for XAG to be considered a coin.
