Are ASEs legal tender?

Discussion in 'Bullion Investing' started by Pilkenton, Oct 20, 2012.

  1. tgaw

    tgaw Member

    lol i haven't had them that long and you are correct they do have a date for interrest.it would however be nice to know if i traded like 20 in would i get the current gold value.if i can i will have to buy some gold coins with my new found wealth.
     
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  3. fatima

    fatima Junior Member

    Norfed never claimed to be making legal tender. In fact he specifically said it wasn't legal tender. Anyone looking into that case would would be appalled at how far the feds pushed the Constitution in making their case. And the fact that it was held in front of a jury picked from a small rural NC town doesn't inspire a lot of confidence in the outcome.

    IMO, this was nothing more than a complete hit job to stamp out any alternative currencies that might compete with the Federal Reserve.
     
  4. fatima

    fatima Junior Member

    It should be noted the first gold dollars struck in the USA were not produced by the US Mint, but rather, by the Bechtler Mint in North Carolina in 1834. The concept of "legal tender" did not exist then nor was it necessary because gold had value whether the government blessed it or not.
     
  5. mrbrklyn

    mrbrklyn New Member



    that is a lovely thought. Let us all meditate on it.
     
  6. imrich

    imrich Supporter! Supporter

    Older Series EE U.S. Bonds exceed their "maturity value"

    I believe you might want to review the "October 2012 SERIES EE REDEMPTION VALUES AND INTEREST EARNED", as I have in my hand. A $1000 "maturity Value" bond which I purchased 20 years ago this month in October. 1992 for $500, is shown to currently have a value of $1395.60. A value exceeding the maturity amount by $395.60, for a total interest amount of $895.60 due, or a simple interest rate of 8.96%/annum.

    Just my humble understanding, but I've been wrong before. :thumb:
     
  7. Blaubart

    Blaubart Melt Value = 4.50

    Great, but once it has "matured", it will no longer be earning interest. For series EE bonds, that's 30 years:

    http://www.treasurydirect.gov/indiv/research/securities/res_securities_stoppedearninginterest.htm

    Bonds are tricky beasts. There are a list of formulas as long as my arm to calculate their par value in various situations. Basically, your bond is paying a higher rate than the bonds being sold today, so it sells for a premium.
     
  8. imrich

    imrich Supporter! Supporter

    Appreciated Enlightenment

    Thanks for the link/enlightenment, as when the bonds were initially acquired the understanding was that maturity was realized upon the bond achieving "Face Value".

    We're never to old to learn. :thumb:
     
  9. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD

    wow that is just sad...to hear people don't realize there is a half dollar coin...just sad...
     
  10. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    It surprised me. If you want to have some fun, just give a half dollar to a young teller the next time you check out in a store. There is a good chance they won't know what it is, and there isn't any spot in the cash register for it. Sometimes their eyes get big like they were just given some rare coin by a stupid customer. Where are all of the half dollars anyway since they don't seem to circulate?
     
  11. mrbrklyn

    mrbrklyn New Member

    They haven't produced them for circulation in years.
     
  12. jjack

    jjack Captain Obvious

    Should get something like this if you want a PM coin with a good face value.

    100 Euro face value and 3.1 grams of gold content
    [​IMG][​IMG]
     
  13. mrbrklyn

    mrbrklyn New Member

    I think the French do better.
     
  14. fatima

    fatima Junior Member

    This isn't true. The mint produced 3,500,000 Kennedy 1/2 dollars in 2010 and 3,450,000 of them in 2011 to be used for circulation. Anyone can order a box of them from any bank.

    You can also buy the 2012 circulating version of the coin directly from the US mint in either rolls or bags.
     
  15. mrbrklyn

    mrbrklyn New Member

    OK - I'll take your word for it.
     
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