Is it actually legal to sell

F

fishtaco

Active Member
Silver Stacker
Current legal tender intended for circulation for more than its face value for alternative current legal tender of the same country?
 
Another take on this is - you are selling bullion silver of a certain weight for the value of silver in it.
I can't see how this alternative take is illegal. The purchaser can decide whether to buy on this basis.
I guess the clincher is - the Perth Mint is selling coins at above face value. Are they in trouble ?
I hope that helps. :cool:
 
James said:
Another take on this is - you are selling bullion silver of a certain weight for the value of silver in it.
I can't see how this alternative take is illegal. The purchaser can decide whether to buy on this basis.
I guess the clincher is - the Perth Mint is selling coins at above face value. Are they in trouble ?
I hope that helps. :cool:
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Perth Mint are not selling intended for circulation use currency? and I wasnt talking about a pm content of a coin.

If its legal to sell an intended for circulation $2 coin or a $100 note for more than its face value then a cashier in a shop would be within the law for selling you wanted change for more than its face value. this is what I mean :)
 
fishtaco said:
James said:
Another take on this is - you are selling bullion silver of a certain weight for the value of silver in it.
I can't see how this alternative take is illegal. The purchaser can decide whether to buy on this basis.
I guess the clincher is - the Perth Mint is selling coins at above face value. Are they in trouble ?
I hope that helps. :cool:
Click to expand...

Perth Mint are not selling intended for circulation use currency? and I wasnt talking about a pm content of a coin.

If its legal to sell an intended for circulation $2 coin or a $100 note for more than its face value then a cashier in a shop would be within the law for selling you wanted change for more than its face value. this is what I mean :)
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yes, the government itself has sold off museum collections of coins that were intended for circulation and they got far more than face value
 
James, that coins was never intended for circulation.

I think fishtaco is getting at.. If you go into a shop, see they have a bag of coloured $2 coins, and you're like, "can i have $50 in change. I'll take that unopened bag right there" then they say, that will be $80.. knowing that the coins are collectible.

I don't see how that would be illegal.
 
shinymetal said:
James, that coins was never intended for circulation.

I think fishtaco is getting at.. If you go into a shop, see they have a bag of coloured $2 coins, and you're like, "can i have $50 in change. I'll take that unopened bag right there" then they say, that will be $80.. knowing that the coins are collectible.

I don't see how that would be illegal.
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Yes you are correct this is what I meant :)

So then if I paid a persons $80 charge to me in that same $50 worth of coloured coins for that $80 charge this would also fall within that non illegality?

Just a thought I had today for some strange reason lol for instance you could pay somebody less in face value professing the lesser amount was worth more than actual government decreed face value! sort of the opposite to your scenario.

I just wondered if there was a law to prevent this as it would have to work both ways?
 
by that i guess you mean, if i was working a counter. and a customer was due $6 change, would it be legal to give them a green $2 and say, those sell for $6 on ebay.
I guess if they accept your offer then there is nothing illegal about it.
but an offer is what it would be. they wouldn't have to accept it.

that's just my opinion on the matter. I know nothing of the laws surrounding such issues.
 
Reserve bank sells new issue notes fist prefixes etc above face value.
RAMINT sells / sold dollar rolls above face value. Dealers have been selling coloured orange rolls of $2 coins for well above face value!
 
Perfectly legal.

The additional cost is "consideration" for the collectability and does not break any laws (currency, banking etc.)

Consideration is the concept of legal value in connection with contracts. It is anything of value promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, abstinence from a future action, and much more.
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The value of an item may be more than the face value of the currency.
 
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