What's the Oldest Coin still accepted?

Discussion in 'Coin Chat' started by Endeavor, Nov 9, 2015.

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  1. scottishmoney

    scottishmoney Buh bye

    The florin or 2/- became a 10p. The halfcrown or 2/6 was the equivalent of 12 1/2 p but was demonetized and removed from circulation. Curiously the 6d, sixpence coin did circulate until ca. 1980 as a 2 1/2p coin.
     
    scottishmoney, Nov 12, 2015
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Neither credit cards nor debit cards are money. Gift cards, on the other hand are money and, to the best of my knowledge, do not expire.
     
    ToughCOINS, Nov 29, 2019
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  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    This thread got me to thinking about the large bills that the US no longer makes. Some years ago I helped my wife’s family clear out great grandma’s tiny house after she passed. She had thousands of dollars in tightly rolled bills hidden in every nook and crevice in that little house. None were large denominations, but it did get me to wondering so I did a Google search. It seems our only demonetized US bill was a $100,000.00 gold certificate issued in 1934. I found that to be fascinating.
     
    Randy Abercrombie, Nov 29, 2019
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  5. chrisild

    chrisild Coin Collector

    Right. Just saying that, even in countries where cash is never demonetized, the concept of something that is used as means of payment having an expiry date is quite common ...

    Christian
     
    chrisild, Nov 29, 2019
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  6. Kentucky

    Kentucky Well-Known Member

    Only on the outer Jovian moons.
     
    Kentucky, Nov 30, 2019
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  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    As far as I know, gift cards are still money after a period of time. It may no longer be our money, as it can be claimed by the states in which we reside, but the cards remain convertible to money nonetheless.
     
    ToughCOINS, Nov 30, 2019
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  8. Kentucky

    Kentucky Well-Known Member

    Every gift card I ever saw had an expiration date.
     
    Kentucky, Nov 30, 2019
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  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    You're right and, after a few years of refusing to accept expired cards, the Feds and States stepped in to make sure the sellers of those cards made good on their obligation to deliver value for the price paid. In addition to federal law, there are also many state laws covering this subject matter . . .
     
    ToughCOINS, Nov 30, 2019
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  10. hotwheelsearl

    hotwheelsearl Well-Known Member

    Not that I don't believe you but...

    How in the world would one come across a 100k bill? They were printed ONLY for inter-bank transfer usages. It was worth nearly $2 million in 2019 dollars, in 1934.

    Besides, as far as I know there's only a very small handful (less than 10) of 100k's in existence, and all are in museums.

    Additionally, ALL of the known examples are accounted for, and private ownership is entirely illegal.
     
    hotwheelsearl, Nov 30, 2019
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  11. -jeffB

    -jeffB Greshams LEO Supporter

    Yes, this is true. Gift cards still aren't very good money, though. Just ask anyone holding a gift card for Toys-R-Us, or Circuit City, or Borders. Heck, ask any of my neighbors who might have had a Kroger gift card, after the chain pulled out of our state completely.

    I don't think there are any laws that make gift card balances more durable than the company they target. Heck, if Sears can fold...
     
    -jeffB, Nov 30, 2019
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  12. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I don't disagree, if the companies the gift cards are issued by are less solvent than the country by which the money is issued . . . for many issuing companies that premise might be considered questionable in this thread.
     
    ToughCOINS, Nov 30, 2019
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  13. hotwheelsearl

    hotwheelsearl Well-Known Member

    Well, California law says that all gift cards under $10.00 MUST be exchanged for cash upon request - at the issuing retailer.

    So cards to places that don't exist don't work. But under $10, at extant shops, it is literally as good as cash since you can exchange it 1:1.
     
    hotwheelsearl, Nov 30, 2019
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