Medal-coin: Difference between revisions
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A '''medal-coin''' or '''non-circulating legal tender''' (NCLT) [[coin]] is regarded as [[legal tender]], but it does not circulate for the following reasons: | A '''medal-coin''' or '''non-circulating legal tender''' (NCLT) [[coin]] is regarded as [[legal tender]], but it does not circulate for the following reasons: | ||
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* The [[currency unit]] is not in common use. | * The [[currency unit]] is not in common use. | ||
* The coin is usually issued as a [[ | * The coin is usually issued as a [[proof coin]] only. | ||
* The coin is sold to collectors at a premium above the [[face value]]. | * The coin is sold to collectors at a premium above the [[face value]]. | ||
The [[coins of Bophuthatswana]] were examples of medal-coins. The [[Krugerrand]] is an example of a medal-coin, even though it is also a [[bullion coin]]. | The [[coins of Bophuthatswana]] were examples of medal-coins. The [[Krugerrand]] is an example of a medal-coin, even though it is also a [[bullion coin]]. | ||
Latest revision as of 14:53, 25 December 2007
A medal-coin or non-circulating legal tender (NCLT) coin is regarded as legal tender, but it does not circulate for the following reasons:
- The intrinsic value exceeds the denominational value.
- The currency unit is not in common use.
- The coin is usually issued as a proof coin only.
- The coin is sold to collectors at a premium above the face value.
The coins of Bophuthatswana were examples of medal-coins. The Krugerrand is an example of a medal-coin, even though it is also a bullion coin.