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<p>[QUOTE="imrich, post: 1556028, member: 22331"]<b>Jurisdictional "Legal Tender"</b></p><p><br /></p><p><br /></p><p><br /></p><p><b>You are correct that "Legal Tender" is jurisdictional. In your garage you may dictate that your "coinage", with or without statement of origin, can be used as the coin of realm for acquiring your possessions. This is similar to government promissory notes and "script" which have varied value/acceptance throughout the world. </b></p><p><b><br /></b></p><p><b>In some countries the governmental agency isn't required to exchange a coin of pure gold for a possession, nor a herd of cattle for a wife. They are accepted as local "legal tender" without identification of authority. However, a Ruble, even though properly connotated for legal authority is/isn't legal tender for many exchanges throughout the world (i.e. subject to local "Hard Currency" policies). </b></p><p><b><br /></b></p><p><b>An example of varying jurisdictional value, regardless of governmental indicated authority, are our bullion coins which legally can only be redeemed at their "face value" (e.g. 1 oz. Gold AGE is $50) as "legal tender" not subject to capital gains taxes. In other jurisdictions they may be redeemed as "legal tender" at an elevated value without recourse.</b></p><p><b><br /></b></p><p><b>Just my humble understanding of "Legal Tender". </b>:thumb:[/QUOTE]</p><p><br /></p>
[QUOTE="imrich, post: 1556028, member: 22331"][b]Jurisdictional "Legal Tender"[/b] [B]You are correct that "Legal Tender" is jurisdictional. In your garage you may dictate that your "coinage", with or without statement of origin, can be used as the coin of realm for acquiring your possessions. This is similar to government promissory notes and "script" which have varied value/acceptance throughout the world. In some countries the governmental agency isn't required to exchange a coin of pure gold for a possession, nor a herd of cattle for a wife. They are accepted as local "legal tender" without identification of authority. However, a Ruble, even though properly connotated for legal authority is/isn't legal tender for many exchanges throughout the world (i.e. subject to local "Hard Currency" policies). An example of varying jurisdictional value, regardless of governmental indicated authority, are our bullion coins which legally can only be redeemed at their "face value" (e.g. 1 oz. Gold AGE is $50) as "legal tender" not subject to capital gains taxes. In other jurisdictions they may be redeemed as "legal tender" at an elevated value without recourse. Just my humble understanding of "Legal Tender". [/B]:thumb:[/QUOTE]
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