Legal Tender facts
While investigating facts about Legal Tender Uk and Legal Tender Money, I found out little known, but curios details like:
There is a $100 coin that is legal U.S. tender. They weigh1 ounce and are 99.95% platinum. This is the highest face value ever to appear on a U.S. coin.
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In 2016 India gave its citizens less than 4 hours notice that their two largest bills (worth about $8 and $16) would no longer be legal tender. They were only allowed to exchange a max of ₹2000-4500 ($31-70) per person per day, and ATMs were still running out of cash up to 5 months later.
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In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what legal requirements when selecting a firearm for hunting. Here are 50 of the best facts about Legal Tender Definition and Legal Tender Meaning I managed to collect.
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The Canadian $1,000 bill was retired on May 12, 2000, for being mostly used in criminal transactions, any $1,000 note deposited at a bank is destroyed, although the bills — nicknamed “pinkies” by gangsters because of the pinkish-purple ink — remain legal tender.
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There is a silver coin with Superman on the heads side that is legal tender in Canada.
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There is a $1 Million coin that is legal Canadian tender. They weigh 100 kg and are 99.999% gold. This is the highest face value ever to appear on any coin ever.
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Canada has limits on how many coins you can use in a payment until the coins are no longer considered legal tender. (ex: Limit of $25 in $1 coins, $40 in $2 coins)
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Ocho de Plata, the Spanish Dollar, was the first legal tender in the United States until the Coinage Act of 1857. In fact, equity shares were still quoted in eighths of a dollar until 2001; this was a legacy from the coin’s divisibility by 8, since each Spanish Dollar was worth 8 reales.
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The US once printed paper money in cent denominations. Known as 'fractional currency', it was introduced in 1862 because people were hoarding coins for their precious metals. Issued in denominations of 3, 5, 10, 15, 25, and 50 cents, they are still technically legal tender (spendable) today.
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500, $1000, $10,000 & $100,000 Bills were printed by the US Mint until 1934, and are still legal tender. The high denomination bills were used to make large transfers between individuals and banks before technologies such as Bank Wire, Money Transfer, and ACH were available.
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Disney and Star Wars coins have been minted by Niue and are legal tender in the country.
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A ripped U.S. dollar bill is still considered legal tender if at least 51% of it remains.
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Even though coins and currency are legal tender, no private business, individual, or governmental agency is required to accept them as payment in the United States
Why are scottish notes not legal tender?
You can easily fact check why is money a legal tender by examining the linked well-known sources.
French and Spanish coins were legal tender in the United States until 1857.
The most valuable legal tender coin in the world is a US$1 million coin from Australia. Since it weighs 1,000 kg and is 99.99% pure gold, it is worth almost US$45 million. - source
Despite billions of pounds worth with being printed and used every year, there is no legal tender paper money in Scotland, even Scottish bank notes are not legal tender in Scotland - source
Eight currencies are legal tender in Zimbabwe today, and none are its own.
Creditors are obligated to take "legal tender" for payment of debts and because U.S. paper currency reads "This note is legal tender" cash money cannot be refused for payment of a debt by a creditor - source
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A ripped U.S. bill is still considered legal tender if at least 51% of it remains.
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In Australia, 5-50c coins are only legal tender for a sum up to $5
In Niue, an island nation in the South Pacific with a population of about 1,400, they have created legal tender coins featuring Disney and "Star Wars" characters in a bid to boost its economy and put the petite peninsula on the map.
1p and 2p coins are legal tender only up to the sum of 20p this means that it is permissible to refuse payment of sums greater than this amount in 1p and 2p coins in order to settle a debt.
Some airport sniffer dogs are trained to detect the particular ink used in printing the bills. The exact composition of legal tender, including the formula for ink, is a closely guarded secret.
The Pacific island of Niue issued legal tender coins featuring Star Wars characters, including Emperor Palpatine and Darth Vader.