> > > I've been using the Liberty Dollar lately for practically everything I > > > buy. A couple of times, one or more of the silver coins hasn't even made > > > it into the cash register because either an employee or another customer > > > has put a $10 FRN in its place so they could keep the silver for > > > themselves. For more information, check out > > > http://www.norfed.org/default.asp?REFERER=NRC48774 > > > > Really!? Wow, I need to get bold and try spending one of these things. I > > commend you! > > Note of caution: Make sure the clerks know that the coin is not US Legal > Tender. > > Craig
Here's a couple of notes about what "legal tender" is and isn't. ----- >From the Bureau of Engraving and Printing (http://www.bep.treas.gov/document.cfm/18/110): Legal Tender: A Definition Section 102 of the Coinage Act of 1965 (Title 31 United States Code, Section 392) provides in part: " All coins and currencies of the United States, regardless of when coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties and dues." This statute means that you have made a valid and legal offer of payment of your debt when you tender United States currency to your creditor. However, there is no Federal statute which mandates that private businesses must accept cash as a form of payment. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. ----- >From the Bank of England (http://www.bankofengland.co.uk/banknotes/legaltender.htm): The concept of legal tender is often misunderstood. Contrary to popular opinion, legal tender is not a means of payment that must be accepted by the parties to a transaction, but rather a legally defined means of payment that should not be refused by a creditor in satisfaction of a debt. ----- Although the Liberty Dollar is not "legal tender," it is a legal and legitimate currency (see http://www.norfed.org/legal.asp?REFERER=NRC48774 for details). e-gold isn't "legal tender" either, but I have yet to see that be a problem for anyone on this list. A merchant doesn't have to accept Liberty Dollars or e-gold, but according to the BEP and the Bank of England, he also doesn't have to accept FRNs or Euros or any other "legal tender." Lee Cox --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
