Get Gold from the Post Office

Discussion in 'Coin Chat' started by mrbrklyn, Oct 18, 2012.

  1. Conder101

    Conder101 Numismatist

    But a coin does not have to be legal tender either. Half cents, large cents, flying eagle cents, and the copper nickel Indian head cents, none of them were legal tender during the period of time in which they were issued. Yet I would say we would all agree these were coins. The key feature being that they were issued with the intention that they would circulate as money.
     
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  3. mrbrklyn

    mrbrklyn New Member

    I think Flying Eagles were legal tender.
     
  4. Conder101

    Conder101 Numismatist

    No they were not. The original bill in 1856 as proposed in the Senate did give them a limited legal tender status to the amount of 10 cents, but the House version and the final bill dropped that provision. The cent did not have a legal tender standing in this country until the Act of April 22rd 1864 which created the bronze one and two cent pieces. The cent was made legal tender to 10 cents and the two cent to 20 cents. This was reduced to four cents for each denomination by the Act of March 3rd 1865.

    From the way the 1864 law is worded I would also say that the legal tender status was extended to the Bronze coins ONLY and did not make the earlier large cents, Flying eagles, and copper nickel indians legal tender. The 1865 law on the other hand seems to apply to all US cents.

    Act of 1864
    Sec 3 creates the bronze cent and two cent
    Sec 4:
    And be it further enacted, That the said coins shall be legal tender in any payment, the one cent to the amount of ten cents, and the two cent to the amount of twenty cents;and it shall be lawful to pay out said coins in exchange for the lawful currency of the United States, (except cents or half cents issued under former acts of Congress)

    This seems to give the legal tender status to just the bronze coins.

    Act of 1865
    Sec 6: And be it further enacted, That the one and two cent coins of the United States shall not be a legal tender for any payment exceeding four cents in amount.

    This seems to include ALL US cents whenever made. So the flying eagle did not become legal tender until March 3 1865, and then only up to four cents.
     
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