legal tender


Also found in: Dictionary, Thesaurus, Legal, Financial, Wikipedia.

legal tender

currency in specified denominations that a creditor must by law accept in redemption of a debt
References in periodicals archive ?
While the issuance of coins would cease and binding rounding rules apply also under this scenario, the coins would remain legal tender.
You can also order a pair of special mint souvenir sheets, each containing one higher-value Hercules legal tender International Postage Stamp for just pounds 7.
Gerald Sheehan, deputy master of the Royal Mint said: 'We are delighted to collaborate with the British & Irish Lions and the New Zealand government to mark the 12th Lions Tour of New Zealand with a series of legal tender collector coins.
Treasury officials stressed that the misprinted money is not being recalled and is legal tender.
Nessim said that while MTB thoroughly approves of the new products introduced by the World Gold Council and the many other gold linked instruments currently on offer to investors, it was necessary to dispel the misplaced concerns some investors may have about investing in legal tender gold bullion coins and internationally recognized brands of gold bars.
That changed on this date in 1862, when Congress passed the Legal Tender Act, fixing paper money as a means of paying the government's considerable Civil War bills with something other than gold or silver.
If she looks at the Bank of England website, she might learn that no banknotes (including Bank of England) are legal tender in Scotland.
The currency - which is not legal tender - is the brainchild of the isle's owner Dave Hill.
Known as `pattern pieces' the special 2003 dated coins will not be legal tender,'' said a spokeswoman.
Spain's peseta, Italy's lira, the French franc, German deutschmark and event the Irish punt are no longer legal tender in Europe having been replaced by the euro.
The notes were legal tender in Liverpool between 1793 and 1796.
But they've also conducted little-known operations in parts of the world so remote you'd be hard-pressed to find them in any atlas - places such as the tiny Pacific island of Yap, where 80-pound stone disks are used as legal tender.