They are legal tender backed by the government as long as it stands but it would obviously be foolish to spend an oz of silver as $1 or an oz of gold as $50.
There was once a country, I don’t recall, that put a large face on their gold coins and the value of gold dipped below the face value so people traded them in and it cost the government some money. This is why the low denominations. FYI.
Which I also heard in those coin ads on Fox News. "Each coin is legal tender!"
They are legal tender backed by the government as long as it stands but it would obviously be foolish to spend an oz of silver as $1 or an oz of gold as $50.
There was once a country, I don’t recall, that put a large face on their gold coins and the value of gold dipped below the face value so people traded them in and it cost the government some money. This is why the low denominations. FYI.