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Did The Royal Mint Make a Mistake - Does The Legal Tender Status of Silver u0026 Gold Coins Matter?

Frames Did The Royal Mint Make a Mistake - Does The Legal Tender Status of Silver u0026 Gold Coins Matter?

Description Did The Royal Mint Make a Mistake - Does The Legal Tender Status of Silver u0026 Gold Coins Matter?

Comments Did The Royal Mint Make a Mistake - Does The Legal Tender Status of Silver u0026 Gold Coins Matter?

Thats a cool coin 😎 Comment from : G & S metals

I think I read before that the Canadians ran into a similar issue with NCLT C$5 silver coins (minted to raise money for the Montreal Olympics) that became worth less than their face value (for a time) and started turning up in shopsbrFalkland Islands commemorative coins are issued with a face value in Crowns (or fractions of them), rather than Falkland Islands Pounds - the value of each coin in Crowns and FKP is defined in the order authorising it - confusingly, the value of a Crown is not consistent - I have no idea if anyone has ever tried to spend a commemorative coin here Comment from : Ronnie MacLennan Baird

I’ve got the 10 ounce coin Comment from : daniel gear

Ill take is pay any day any time ! You can have my paper ! Comment from : Oleg Petelevitch

Anyone got change for a dustbin lid 🤪 Comment from : Shaun Corless

I can’t believe how strong you are,lifting that 500 pound coin like it’s only 22 pounds 😎 Comment from : Whateva

If he got £5000 compensation, how much did the arrest cost him? Did he make a net gain or was it just for legal fees? Comment from : :𝑷𝒂𝒔𝒂𝒋𝒆𝒓𝒐: 𝒅𝒆𝒍-𝑻𝒐𝒓𝒐

I would love to see silver come back lovely coins I've never seen silver coins in circulation in my whole life Comment from : PinacMediaUK

Why would you want to? The silver content is worth way more than the fiat value? Surely that’s just throwing money away Comment from : cameron dixon

What if you take it the bank and exchange it for smaller denominations?brbr Do you think that the bank will take it since it is legal tender? Comment from : I_SHIT_0N_YOUR👉Q0RAN💩

You think they put the legal tender value so low just incase silver standard returns? Comment from : Jay C

Nice collection you need some Royal Canadian maples in there I think, thanks for the video Comment from : Crush42 Mash

How do they get 2 pounds for an ounce coin with our silver eagles you can get a dollars if you spend it that's something and the crazy mint comes out with a 5oz quarter on the ATB series maybe they did that for a reason Comment from : Bill 457

Royal mint lied and cheated investors and people of UK Comment from : Marius M

When drunk, I paid for a bottle of vodka with a ounce Silver coin The cow behind the counter called the police, who took the coin an did nothing!🤪 Comment from : JOHN GORDON

I'll buy that large coin from you for 500 pounds Lol Comment from : offshoreman71

My kilo coins all say $30 Australian Comment from : Rohan Cowley

hold up there is a 500 pound coin- Comment from : r4vėn

Having the denominated value on the face of the coin be worth more than the metal is normal for currency The question would be if the price of silver falls will they sell the coin for less than 500 pounds? My guess is they won't Also had to watch this in bed next to the gf with the sound muted Googles auto generated subtitles come out with "backyard bullying" instead of bullion 🤣 Comment from : Ian Curtis

As far as face value - the only thing I see of importance is if an individual is passing through customs going to another country - the face value of a monster box of ASE is $500 - so no reporting required as I understand vs it's true value in silverso if I choose to cross to Canada to escape some kind of crazy here - I wouldn't be required to declare anything related to that silver Comment from : Free man

Pay with 100 pound coin Get arrested Sue for 5,000 pounds Stonks Comment from : James Holden

Would you want to use a silver coin for its face value? The metal always seems to be magnitudes greater Comment from : Full Potato Jacket

This 500 pound coin is an amazing dual play in foreign currencies (for some), and silver at the same time Plus it is interesting and will possibly become collectible someday Comment from : RedShiftedDollar

OK, btechnically/b it's a coin But in terms of bconvenience/b it rivals the ancient Roman aes grave Comment from : William Cooke

I believe that no legislation exists that allows the royal mint to charge VAT on legal currency Comment from : Max Hallam

Wasn't it announced that the RM have plans to make lots of new denominations for coins? Could be they plan to get a slice of the pie straight off the top from the next engravers issue? Comment from : William Smith

I wonder If it was intended to be a 50 Pound coin Comment from : Karlos M

This is not a mistake This is a sign of inflation If a pound was 100 times less worth, you wouldn't have a 100 pound gold coin, but a 10000 pound gold coin If they made a 500 pound coin, means silver will never ever fall so low again, that you d get more fiat out of it that there is silver value Maybe silver philharmonics will have 15 euro silver, canada 50CAD silver and 10USD silver eagles Comment from : Nidhogg

I want that big hockey pock Please give me one🐈🥺 Comment from : Equity Justice

2021 1oz silver kangaroo has face value of $1 AUD but cost $40 each Boy did I just invest a shit load in the wrong coins Comment from : jim m

Here in the states, we have the ase It has a dollar denomination of $1 I have a few clients that pay me with those ( very happy to accept them) For these client I charge $2 per hour I happily claim that rate on my taxes So, until the mints and comex come to a fair monetary amount on silver I will continue to operate in this fashion Comment from : Albert Albert

I will pay you 500 for that kilo any day of the week 👍🏻 Comment from : Gaming Bigfats

Why can’t you trade 5, 1 ounce gold Brittania’s for it at the Bank of England?😉 Comment from : Richard LaDow

So, can you bank a £100 coin? Comment from : Andrew Farrow

Anyone can accept anything as payment Thats between the 2 partys Its called bartering Comment from : Brandon Thailand

Non circulating legal tender is not legal tender and that is not currency Banks aren't stupid Comment from : Mike p

I am confused other than being unfamiliar with a certain type of coin why they would be frowned upon being used in exchange They are legal tender and also are made of precious metals I personally would rather have a 100 euro precious metal coin than a 100 euro paper dollar Comment from : M- Nice

I will accept any of those at face value epically the queen's beast 1kg or the britannia Comment from : james spurling

Most places now put signs up now stating they don't take anything over a £20 note, with the amount of forgeries for £50 notes etc I suppose this takes into account the coins as well Comment from : GT

Nice coin👍 Comment from : SrebrnyBulion

Silver will always be a poor mans bullion, it will never reach $100 an ounze, why, because the goverment of the day can"t tax the profits you make if you have been at it a long time, good video like it a lot you raised some dam good points Comment from : robin alexander

That's interesting your coins are only valid up to a certain amount In the US you can pay thousands of dollars in pennies if you wanted Granted most people will require you to put the pennies into rolls but it is legal to pay thousands of dollars in pennies It is legal tender regardless of the amount Comment from : Kids For Drugs

i hope he spent that £5,000 on silver 😂😂 Comment from : Autumn Dark

'Fiat' (arbritary) currency is all IOU basedonly Gold and Silver is Real Money Comment from : Sebastian Baragwanath

beautiful。 Comment from : サムライブログ 銀silver専門チャンネル

The denomination on a silver coin is proof that fiat currency is a scam What's the point of putting a $1 denomination on a coin when it's metal value is worth 30 times that? Comment from : SW Jackson

John Wilkes Booth and his fiance and finance French Connection my advice would be John wick 4 to buy one lucky penny or one Cent from Gul F Majeed eye have three coins Brass 1943-D Abraham Lincoln wheat one cent made of copper eye would be willing to exchange one of mine 1943-D Brass Abraham Lincoln wheat one cent Denver Mint for a decent house without any depth or mortgage and all bills paid for one year anywhere around the world and for a graded steel 1944-D or 1944 steel Abraham Lincoln wheat one cent and a Tesla vehicle Comment from : Gul F Majeed

John Wilkes Booth and his fiance and finance French Connection my advice would be John wick 4 to buy one lucky penny or one Cent from Gul F Majeed eye have three coins Brass 1943-D Abraham Lincoln wheat one cent made of copper eye would be willing to exchange one of mine 1943-D Brass Abraham Lincoln wheat one cent Denver Mint for a decent house without any depth or mortgage and all bills paid for one year anywhere around the world and for a graded steel 1944-D or 1944 steel Abraham Lincoln wheat one cent and a Tesla vehicle Comment from : Gul F Majeed

I prefer carrying a hard working Pretty Elizabeth II Penny's 1954 or one cent Abraham Lincoln Penny's 1943-D Brass copper Saving from a Rainy 🌧 day those these coins are available for sale as its a Rainy season cold 🥶 so that I can survive in a nice warm house to buy and a nice vehicle that can drive itself or a flying vehicle ease of access for a disabled person and partially sighted Comment from : Gul F Majeed

Can you imagine carrying this £500 silver coin Comment from : Gul F Majeed

Ball ache You are priceless Backyard Comment from : David Martin

Can't find any of these on the royal mint website great video though Comment from : Lord Alexander Malcolm Guy

The Royal mint, the bank of England's and Martin Lewis website explains what's legal tender means, just because 99 of UK public including Backyard bullion don't Legal Tender definition is very small, and very strict it only relates to court debts Shops can refuse payment of any method including legal tender The case doesn't prove anything as it was settled out of court Typically it would have been open and shut the guy was in the wrong the police 2ae correct but for two things 1) the shop said it would accept any legal tender 2) a petrol station you pay after consuming the goods The case proves nothing it was settled out of court and the law is already clear Comment from : Semi Numismatic Guy

I would say good on him it’s not his fault other people are so uneducated Comment from : kevin balkwill

BYB, after watching you flash that stunning kilo completer around, I couldn’t get it out of my mind and ordered one today I blame you and so does my wife! 😃 Comment from : Tim Herring

For anyone who pays their bills in arrears is that a legal debt against which legal tender can be applied? 🧐 Comment from : Jay

The argument against buying them cheaper online is ridiculous, and renders every profit-making endeavour in the world 'dishonest' by that logicbrThe policeman who came up with that is either a radical socialist, or more likely just trumping up a poor justification for the wrongful arrest Comment from : Jay

I can spend my $1 silver eagle on a candy bar but why would i? The silver value is more than the face value Its like people spending constitutional coins on thingspeople do i actually found in my spare change silver dimes and quarters Comment from : Vins World

When I was a student I once bought an emergency pack of rizlas with a bunc Trafalgar £5 coin my nan had got me for Xmas The girl on checkout did check with the manager and they ummed and ahhhed but fair play they did accept it Comment from : ViolentVegan

I'm often confused by the disparity between the different sizes of coins and their different face values It seems illogical to me, because it should be easy to just make the values match, at least rounded off a bit for the differences between ounces and kgs Comment from : Alrik

1 Oz Maple Leaf is $5 canadian face value That is several times greater than most 1 oz coins Wonder why? Comment from : Yora Killisunt

Great story In Singapore 🇸🇬 (we're a Commonwealth country) a new law was recently passed in Parliament to limit the use of coin denominations to a maximum of 20 in any legal transaction This meant one could only use a maximum of 20 pieces of any coin denomination at a time for a transaction The rationale was both about going paperless and to stop a few people who lobbed sacks of coins as a novelty to pay for a smartphone, and yes, the police was called in as well! 🤷🏻‍♂️😂🤦🏻‍♂️ Comment from : Tom Tyrone Beiron

How did he actually pay for the diesel in the end after everything ? In reality, he won awards for wronful arrest but that is all Comment from : Foregone Conclusion

Great topic! This was an interesting video, and something I was hoping you’d cover Comment from : Lr103

Going back a couple of years I bought quite a lot of those £100 coins off eBay for between £40-£60 each I knew that they were legal tender so the banks must exchange them right? Wrong, they had a memo informing them to refer customers to the Royal Mint for exchange So I mailed them back to the them They promptly returned them to me saying they didn’t except them unless purchased within 14 days and I would also need proof that I had bought them from them I eventually sold them back on eBay and broke even Now they are selling for a little over £100 on there So should have kept them lol 😂 Comment from : Garry Croft

I looked at the Bank of England site and they say they exchange old bank notes but not any coins (tried including link in this post but was rejected 1st time)brAt the bottom of the banknote page they direct people to the Royal Mint that says some banks exchange demonetised coins from their customers but are under no legal obligation to do sobrbrIs there actually anywhere in the UK that is required to exchange coins? (I don't know)brThe Royal Mint cannot keep the profits from selling cheap to make silver coins for £100 if people trade them back They also likely don't want the extra hassle of checking they are genuine as they had little to no security features for something with such a high face value Comment from : Mark Barnard

if you want to know about money look up the law of water thats why money has a water mark the cash flow the liquid assets ? or why when you go to court you go in the DOC same as when a womans water has broke the doctor aka the doc signs your BIRTH certificates and you death certificates you are a bond NEO time to wake up or go back to sheep go look up meet your meet your strawman as you are the keeper of your car not the owner hmm let that SINK in Comment from : Ophiuchus 67

Hi, BYB If your government doesn't want to honor the face value of its coins, it needs to demonetize the coin bTYU/b Comment from : Donald in New Mexico

Fantastic chunk of a coin there BYB! Much love! Metal Head Comment from : Metal Head

It annoys me that the RM makes the BU cuppero-nickel versions of coins like the Queens beasts face valued at 5 pound when the 1oz silver with the same dimensions is just 2 Makes no logical sense when the 2oz silver is 10 pounds face, it should be properly ascending with the cuppero nickel at the bottom with 2 pounds face! Comment from : James M

Nice coin - no milk spots on her nose either - that seems to be a recurring mark on these ones Comment from : Tom C

I've looked for the 1 kilo completer coin, since you did a video on it some time back I have not found yet seen it for sale Comment from : FatherTime

I wish legal tender was legal tender and people wouldn't be kidnapped for using legal tender Oh well Comment from : Mike B

Is there a reason why you buy so many of these collectible coins? With the premiums so high on them, I just wondered what the point is if you’re staking As surely staking is about getting the best value for your Silver Love the channel 👍 Comment from : Sennabus

is the queen beast set rare Comment from : judah benwoke

The only point I think that hasn't been explored is that in a reset, they may have to devalue the currency to make it interesting for next 100+ years again, where they may remove a lot of 0's from the standard fiat currencies however that will most certainly exclude these minted precious metal coins If the government decides to devalue the currency by 100 it may mean that a £1 million pounds becomes £10,000 (so 20 of these £500 coins would get you to £1 million equivalent) however everything that was in fiat paper would get revalued down but not the precious metal coins These £500 silver coins may turn out to be a great method of wealth transferI have always explored this idea but never managed to find many opinions/answers whether it may be a possibilityany thoughts on this?? Comment from : A a

I saw this story and am flabbergasted as I often pay for many things around my small town with new (that year) Maples I picked up many of the 20/20 and others when they came out Love em Nice visit bud As usual you are full of common sense my friend Comment from : Tomokos Enterprize

I prefer Royal Canadian mint over United States mint Comment from : 🐲 My Kitten Is A Grand Master 🐉

end of the day it don't really matter when most are paying about 1k for a 500 pound coin anyway, dont really know why the royal mint never has in stock either when other sites do, but if they gonna put 500 pounds on a silver coin they just as well do similar on the gold coins Comment from : 1977JohnBoy

Another place that would accept the face value coins is the bookies, could take a £100 coin and have a flutter on the old 3 legged lame blind pedigree that i am very good at picking out of the line up My sister used to give me the £5 coins that once belonged to the skilled gamblers that were handed in to the bookies, once prized birthday presents no doubt a casualty of old Porcupine Malteser in the 3:45 at Goodwood Comment from : Russell Bury

👍 Comment from : Robert Keating

Don't spend it, the mistake may be worth more in intrinsic value! Comment from : Rondo Ottosen

As I understandlegal tender for circulation is 1p to £2 £5 coins and over are legal tender and can only be used for paying court debts It's optional as to whether shop keepers accept it Comment from : 50p Coin Snatcher

Very interesting report 👍 Comment from : Richard Metcalf

😎Nice😎 Comment from : Peter Brown

its already made a landmark ,,royal mints proclamation is in direct response to this court case i believe Comment from : STACK STACK SAVE UK

Was his settlement in silver? Comment from : wcgcapone

When you draw fuel, and the pump is authorised and when the fuel is transferred, so is the ownershipbrIt is at that point that a debt has been generated THAT is when legal tender becomes relevantbrIf legal tender is refused to settle a debt, there is no recourse in using civil action to recover the debtbrIn fact the police should have declined to attend on account of the event being a civil disputebrAs far as I'm aware Devon and Cornwall Police now decline to attend Comment from : harryzero 156

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