Actually gold is Lawful Money which means "real money" the opposite of legal tender which I consider to be a pale imitation of money.
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation.
I read this somewhere - The quality of coin dollar is attribute of law aside from their bullion value. So, it is a legal tender.
For the most part, bullion coins that are legal tender are worth more for the metal than the face value. A lot of people don't know that prior to 1964, most dimes, quarters, half-dollars, and dollar coins in the USA were 90% silver. They are still legal tender, a quarter from 1964 is worth a quarter face value. But, it is worth many times that for its silver. The Silver American Eagle, which was never meant for circulation, has a face value of one dollar. But, at a full ounce of silver, you won't get may people selling them for face value.
