Most commemoratives have a value minted into the "coin". For example the 2005 Marine Corps 230th Anniversary, it has a face value of one dollar. My question is what is the difference between these commemoratives, and Non-Circulating-Legal-Tender coins? I realize that some Commemoratives do circulate (such as the 1 pound Egyptian with the head of President Nasser, KM #425). I also know that excess quantities minted, if not melted down were often placed into circulation at face value. Still my question remains, if a commem. is never placed into circulation, is it thus a NCLT? And if placed into circ. is it still a commem.??
I believe the commemorative dollars are considered NCLT. Technically you can spend them as dollars and yes if one did it would still be considered a commem. Having been in circulation does not change the type of coin it is. It just makes it a circulated commem. Still worth melt value. The 1892 Columbian Expo Half Dollars are a great example of this. They were minted as NCLT and were sold to collectors and visitors of the expo. These were meant to be collectors items and were not minted to be circulated. Now 128 years later there are more circulated ones than uncirculated.
So, If I found a 1892 Comm. in circulation, it would be a circulating NCLT?? If it is a circulating 1/2 dollar, that is the type coin it is! Seems confusing, especially when so many "coins" are listed as NCLT, which can affect their valuations. When graded I see that they are graded as in the 1 - 70 system- MS. MS is for circulating coinage, and commemoratives, and medals? If non-MS (such as Fine, VG, et cetera) it would mean that they were abused or worn via circulation or exposure to the elements, yes? Also, when looking up 1/2 dollar US coins, the 1892 Columbian Ex. is not listed there, it is listed under Commemoratives, even 128 years later! In closing (?), a proof coin is and will always be a proof coin, as that is how it was originally physically minted. But a commemorative pretends to have a twin identity, it has a face value, and it is originally a comm.. It seems that the real value is not its face value, rather its melt value. Hence, I view most comm. with suspicion as far as being true money, whereas true NCLT coins are more "real" - i.e. they do not sit in the Commemorative category, and they can with greater ease slip into circulation as legal tender. Oh, no wonder my wife thinks my head is in the clouds. Gary in Washington
Yes even today an 1892 Columbian Expo Half dollar, even a circulated one, is classified as an NCLT. When minted you could not get these at your local bank for 50 cents. They were sold to collectors for a premium and when spent they took a loss. Circulating commems would be more like the business strikes of the 2009 Lincoln cents, The Westward Nickels, and the 1776-1976 Quarter, Half Dollar, and Dollar. Just to name a few. All these could be purchased for face value at any bank in the US. NCLT coins are any coins minted that are intended to be sold to collectors/dealers for a premium by the mint. Like Proofs, Commemorative Dollars and Silver Eagles. All have face value and could be spent as such but the intended collector value and or metal content is worth much more than the face value.
My take on NCLT designation is to disparage modern collectible commemorative coins. Never once have I seen the designation implied with 'classic commemoratives'. I find the term and designation offensive and an affront to 'modern' collectors. Are such (modern collectors) not worthy? Are the so called classics more collectible? As a collector of both sectors, I prefer the 'commemorative' designation. And if one of these coins finds its' way into circulation, it's still an commemorative that's been circulated. A coin that's most honest, sincere, and with character. The same as any other collectable coin.......One without the NCLT crappo speak.
Yes and Yes. I don't think the term on it's own is, but there are definitely many they use it in such a way.
