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Are dollar coins legal tender?
Questioner：Isabella Kim 2023-04-07 08:04:30
The most authoritative answer in 2024
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Isabella Wood——Studied at Harvard University, Lives in Boston. Currently pursuing a career in law with a focus on civil rights.
Hello, I'm an expert in numismatics and legal tender regulations. Let's dive into the topic of dollar coins and their status as legal tender.
In the United States, dollar coins are indeed considered legal tender. This means that they are recognized by the U.S. government as a valid form of payment for all debts, public and private. However, the acceptance of dollar coins as a form of payment is subject to the face value of the transaction. For example, a $1 coin cannot be used to pay for a $10 debt in a single transaction without the agreement of the receiving party.
It's important to note that while dollar coins are legal tender, they are not commonly used in everyday transactions due to various factors, including the preference for paper currency and the relative novelty of dollar coins for many consumers.
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Amelia Cooper——Studied at the University of Cambridge, Lives in Cambridge, UK.
Circulating coins are also included in the United States Mint's annual coin sets, which are the staple of coin collecting. Note: Kennedy Half-Dollars and $1 coins are circulating quality produced as collectibles, not for everyday transactions. However, they may be still used as legal tender.read more >>+119962023-04-13 08:04:30
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