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<p>[QUOTE=&quot;dougsmit, post: 1458673, member: 19463&quot;]NCLT is non-circulating legal tender.&nbsp; Somewhere along the way someone decided it was OK for a government to make coins that bear a face value but sell that coin for a higher value as a profit making enterprise.&nbsp;&nbsp; One example would be the US commemorative half dollars that were sold at a world&#039;s fair.&nbsp; A few of them actually did circulate.&nbsp; I recall setting aside a few Washington/Carver halves when I was a kid in the 50&#039;s but they may have been stolen by kids and spent rather than really being intentionally circulated.&nbsp; For years the government issued proofs or other nicer versions of standard coins but, in the day, I did not consider them different and thought it was OK if I wanted a really nice P mint cent to use one out of a proof set.&nbsp; More recently I hear people arguing that the famous Eliasburg collection was not really complete because he did not include a business strike of coins that he had in proof.&nbsp; </p><p><br /></p><p>To me real NCLT started when coins were made intentionally impossible to circulate and were not released in their home countries.&nbsp; These coins are sold under license from some third world country by commercial mints but released only to collectors in the countries with money to burn as collectibles rather than examples of the money use in that country.&nbsp; I don&#039;t consider NCLT to be coins.&nbsp; </p><p><br /></p><p>Since I don&#039;t collect modern coins I don&#039;t have an opinion as o new terms to divide modern and more modern.&nbsp; I do agree with the end of medieval-start of modern line being when machines were used to make coins rather than big guys swinging hammers.[/QUOTE]</p><p><br /></p>

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