Question about semantics

[Ryan S.]

Hello everyone.

I just have one question that seems like numismatics 101. I heard many years ago that a "coin" has to have a denomination stamped on it in order to be called a "coin". Otherwise it would just be called a token, medal, so-called dollar, etc. But I'm having trouble finding a law that points to this fact.

Obviously it must have a denomination to be considered legal tender, but then again the British Double Florin didn't. Is it a law that has changed, my mind that has failed or a little bit of both?

I tried looking through some old posts, but couldn't find the info I needed to put my mind at ease. Any help would be appreciated ~ Thanks!

[wheat'swheats]

I have never seen that law, but common sense would seem to say you have to have a denomination just to know how much you are spending. Otherwise, how would my late wife had known when to raise H e l l when I came home from a show.

wheat

[James_OldeTowne]

I just have one question that seems like numismatics 101. I heard many years ago that a "coin" has to have a denomination stamped on it in order to be called a "coin".

It is untrue. Otherwise, as a simple example, most ancient coins would not be "coins".

[DWLange]

Our early gold coins carried no statement of value. They traded at their bullion value which, unfortunately, was usually high enough to get them shipped overseas and melted.

[cpm9ball]

Perhaps if you researched the 1883 "No Cents" nickel you might gain additional insight about old legislation.

 

Chris

[Conder101]

Our early half dimes, dimes, the 1796 quarter and as mentioned our early gold coins were all produced with no denominations on them. Most British coins did not carry denominations until sometime around the mid 1800's. The same kind of thing is true for the coins of many countries. On the other hand there are many tokens that do carry denominations. Coins don't even have to be legal tender to be coins. Our one cent pieces were not legal tended until 1864, the half cent was not granted legal tender status until 1933. Yet the half cent and one cent pieces were obviously coins and circulated before those times.

[Mr.Mcknowitall]

Does 31U.S.C. Section 5112, d1 apply?

Just curious.

 

"The reverse side of each coin shall have......a designation of the value of the coin......".

 

Respectfully,

John Curlis

[wheat'swheats]

Perhaps if you researched the 1883 "No Cents" nickel you might gain additional insight about old legislation.

 

Chris

The cents was added primarily because of the "Racketeer" nickel

wheat

[cladking]

A "coin" is an object issued by government for use as currency. Many coins have been issued by banks or other entities in the name of government. Most coins are metallic and legal tender. Money intended to circulate that is made of paper is usually called "currency".

 

Most laws and definitions have varied so much over the years that there is a lot of blurring of the definitions. At one time "money" was really a weight of gold or silver more than a denomination. "Money" was used long before the invention of coins and the practiuce of issuing "currency" in lieu of "real" money.

 

There are literally millions of laws and if you want, you can probably find one to support almost any argument. I don't believe there are any US (federal) laws requiring that the denomination be on a coin. Many foreigners have difficulty with concepts like "dime" which still appears on our ten cent piece because the word exists nowhere else in the language. They can deduce a "quarter" is 1/ 4th of a dollar but there are no clues other than size to a "dime".

 

Many tokens have denominations because they are issued to represent some sort of value like a basket of strawberries or 20 cents. These are issued and used privately or on a limited scale by all sorts of entities and are not legal tender and only rarely circulate as "money" (like civil war tokens). Many tokens are not expressly denominated and might be good for a phone call or a load of laundry.

 

Round metallic objects without a denomination are often medals which commemmorate, events, places, or ideas (like buy Coca Cola). There are also numerous other objects that don't fit neatly into any category like charms, tags, lucky pieces, or labels. I tend to group all such items under "medals" just for simplicity of usage. A label does in a sense commemorate the pair of shoes to which it had been attached.

[Mr.Mcknowitall]

A "coin" is an object issued by government for use as currency. Many coins have been issued by banks or other entities in the name of government. Most coins are metallic and legal tender. Money intended to circulate that is made of paper is usually called "currency".

 

Most laws and definitions have varied so much over the years that there is a lot of blurring of the definitions. At one time "money" was really a weight of gold or silver more than a denomination. "Money" was used long before the invention of coins and the practiuce of issuing "currency" in lieu of "real" money.

 

There are literally millions of laws and if you want, you can probably find one to support almost any argument. I don't believe there are any US (federal) laws requiring that the denomination be on a coin. Many foreigners have difficulty with concepts like "dime" which still appears on our ten cent piece because the word exists nowhere else in the language. They can deduce a "quarter" is 1/ 4th of a dollar but there are no clues other than size to a "dime".

 

Many tokens have denominations because they are issued to represent some sort of value like a basket of strawberries or 20 cents. These are issued and used privately or on a limited scale by all sorts of entities and are not legal tender and only rarely circulate as "money" (like civil war tokens). Many tokens are not expressly denominated and might be good for a phone call or a load of laundry.

 

Round metallic objects without a denomination are often medals which commemmorate, events, places, or ideas (like buy Coca Cola). There are also numerous other objects that don't fit neatly into any category like charms, tags, lucky pieces, or labels. I tend to group all such items under "medals" just for simplicity of usage. A label does in a sense commemorate the pair of shoes to which it had been attached.

 

Is the U.S.C. referenced above a federal law requiring compliance?

 

Respectfully,

John Curlis

[cladking]

Is the U.S.C. referenced above a federal law requiring compliance?

 

I missed the post and stand corrected.

 

"(d)(1) United States coins shall have the inscription "In God We

Trust". The obverse side of each coin shall have the inscription

"Liberty". The reverse side of each coin shall have the

inscriptions "United States of America" and "E Pluribus Unum" and a

designation of the value of the coin."

 

There are likely other laws that pertain to specific coins over the years. When I made the erroneous statement I was thinking in more general terms.

[Ryan S.]

So any metallic object a Government strikes to be used as money can be called a coin. The definition sounds broader than I had anticipated, but it makes a lot more sense than just having anything with a denomination be called a coin. Thank you all very much for taking the time to write, as I think I have a better understanding of the terminology now.