Thread: Dollar Coin usage still allowable?

Hey all,
i was just wondering if you can use (i wouldnt want to but im curious) the presidential gold dollar coins as currency. I know you could in 2010 but people looked at them as curiosity pieces. any input?

You may use any US coinage in commerce.

As far as I know they should still be accepted. I was using them for the tolls as recent as a month ago.

I have an entire roll that is unopened and extras that are out of the roll too. I am definitely not using the rolls but the ones out of it i might.

May I ask why you are saving them?

well i think some of them are beautiful, after i saw the coins for the first time i fell in love with them. If i were to use them, could i only use them at toll booths?

Originally Posted by alhenry92

Hey all,
i was just wondering if you can use (i wouldnt want to but im curious) the presidential gold dollar coins as currency. I know you could in 2010 but people looked at them as curiosity pieces. any input?

using a presidential dollar in comerce is agaist the law and can result in 15 - 25 years in prison.

A legal tender coin is legal tender. End of story.

Originally Posted by mrbrklyn

using a presidential dollar in comerce is agaist the law and can result in 15 - 25 years in prison.

That's one of the most egregious bits of bull ever posted at Coin Talk!

lol i am so sorry for asking such an idiotic question.
I just wasnt sure

Originally Posted by alhenry92

well i think some of them are beautiful, after i saw the coins for the first time i fell in love with them. If i were to use them, could i only use them at toll booths?

They are legal tender. You can use them wherever you can use cash.

I use them everday for my two dollar bridge toll. I try to mess up the toll collectors by handing them a Sac and a SBA, or a Presidential and an Ike, or two Kennedy halves and a SBA... but they never flinch. I always ask the tellers at my local bank for dollar coins and halves; today I picked up twenty (mix of Sacs, SBA's and Presidential) along with five Ikes and three Kennedy halves. Never hurts to ask. Then I sell the excess at the local flea market for a small profit. It still amazes me how many people have never even seen these coins.

I say if you want some real attention when using coinage, pull out some Ike dollars. You can get them for face on and off at banks, depending on who cashed in their cash jars lately.

Can a recipient deny acceptance, are they eligible for any kind of monetary transaction and as payment of all public or private debt, and can this be enforced through law?
(My question originated in the use of coins, but you can see it formulated in regards to bills too.)

I'm just interested in this answer, some time ago a German Court ruled that high denominations (100€ bills and higher) don't have to be accepted by the recipient under special circumstances were the value of exchanged goods is significantly lower than the received nominal (for example to buy a pretzel and pay with 100€).

Any coin or note ever issued by the US is still valid as legal tender. You can offer it as payment, but no one is required to accept denominations that you may offer in payment.