DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Guy tries to deposit silver coins for face value, bank wouldn't take them

**formobilagsw** · 07-06-2012, 12:31 AM

Here's the coin in question:

Aaaarrrgh my retinas! Thanks for the WARNING. Kidding aside,

First, why would someone buy silver coins and then try to deposit them at the bank?

Genuinely unaware? The story reads that way.

And second, why wouldn't the bank take them? Legal tender is legal tender as far as I know.

Not all legal tender is created equal. The banks deal in fiat and personal aren't trained to transact in hard currency.

So, one must ask, what does it mean for a national mint to mark a coin as "20 DOLLARS", yet not have it be interchangeable with other currency that is also labeled as 20 dollars? If it's really a numi, why label it with a dollar value? This is another example of why the world's fiat "money system" is at risk. It's already bad enough that money can be established by decree, but now even the decree is open for interpretation.

It is interchangeable. He bought it with fiat! What value would you like shown? Isn't your time and everyone else's open to consideration? What would you pay the man for his coin? I wouldn't give him a zinc cent for that hag.

07-06-2012, 12:31 AM	#7
formobilagsw Join Date Oct 2005 Posts 539 Senior Member	Here's the coin in question: Aaaarrrgh my retinas! Thanks for the WARNING. Kidding aside, First, why would someone buy silver coins and then try to deposit them at the bank? Genuinely unaware? The story reads that way. And second, why wouldn't the bank take them? Legal tender is legal tender as far as I know. Not all legal tender is created equal. The banks deal in fiat and personal aren't trained to transact in hard currency. So, one must ask, what does it mean for a national mint to mark a coin as "20 DOLLARS", yet not have it be interchangeable with other currency that is also labeled as 20 dollars? If it's really a numi, why label it with a dollar value? This is another example of why the world's fiat "money system" is at risk. It's already bad enough that money can be established by decree, but now even the decree is open for interpretation. It is interchangeable. He bought it with fiat! What value would you like shown? Isn't your time and everyone else's open to consideration? What would you pay the man for his coin? I wouldn't give him a zinc cent for that hag.
	Quote