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unusual facts about legal tender


Legal tender

Between 1861 and 1874, a number of other banks including the Bank of New Zealand, Bank of New South Wales, National Bank of New Zealand and Colonial Bank of New Zealand were created by Acts of Parliament and authorised to issue bank notes backed by gold, however these notes were not legal tender.


Counterfeiting Coin Act 1741

The last part of this section was amended by the Counterfeiting Coin Act 1797 to extend it to all copper coins ordered by royal proclamation to be current in the realm, not just halfpennies and farthings.

Property

Most legal systems distinguish between different types of property, especially between land (immovable property, estate in land, real estate, real property) and all other forms of property—goods and chattels, movable property or personal property, including the value of legal tender if not the legal tender itself, as the manufacturer rather than the possessor might be the owner.


see also

Coinage Act

Coinage Act of 1857, forbid use of foreign coins as legal tender, reduced the size of the cent, ended the half-cent coin

Fake denominations of United States currency

In the 1960s, Mad printed a $3 bill that featured a portrait of Alfred E. Neuman and read: "This is not legal tender—nor will tenderizer help it." Mad writer Frank Jacobs said that the magazine ran afoul of the US Secret Service because the $3 bill was accepted by change machines at Boise, Idaho, casinos.

Fiat money

But this need not necessarily occur, for example, the so-called Swiss dinar continued to retain value in Kurdish Iraq even after its legal tender status was withdrawn by the Iraqi central government which issued the notes.

Niue dollar

While they use the New Zealand dollar, the government also issues legal tender coins using the Niue Dollar for collector's purposes.

Standard Chartered Hong Kong

Leading to the incorporation of the bank on 1 July 2004, the Legislative Council of Hong Kong amended Legal Tender Notes Issue Ordinance.

United States Note

The United States Congress had enacted the Legal Tender Acts during the U.S. Civil War when southern Democrats were absent from the Congress, and thus their Jacksonian hard money views were under represented.