• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

New Legal Tender

0
GSA_Gem_Quest

1,616 views

Not one of my favorite designs, but a pretty low serial number.

Legal Tender Notes were first issued in 1862, in order to help the Union finance the Civil War. Gold and silver coins were disappearing from circulation, and a new and different monetary medium was needed. They were not exchangeable for silver or gold coin, so some merchants were reluctant to accept them at face value. Even the Philadelphia mint would not accept legal tender notes in payment at par for the proof coins it struck for collectors. To buy these coins, collectors had to submit other silver and gold coins in payment.

6980.jpg.863ece4d4b9bc8308b424fad1899b425.jpg

0



0 Comments


Recommended Comments

There are no comments to display.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now