04-12-2007, 19:45
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#166
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Apprentice Geriatric
Join Date: Jan 2004
Location: Darwen, Lancashire
Posts: 3,706
Liked: 0 times
Rep Power: 89
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Re: A Law Unto Themselves?
Quote:
Wikepedia quote -
"In the 19th century, gold coins were legal tender to any amount, silver coins were not legal tender for sums over 2 pounds, nor bronze for sums over 1 shilling.
This provision was retained in revised form at the introduction of decimal currency, and the Coinage Act 1971 laid down that coins denominated above 10 pence became legal tender for payment not exceeding 10 pounds, coins denominated not more than 10 pence became legal tender for payment not exceeding 5 pounds, and bronze coins became legal tender for payment not exceeding 20 pence."
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Wikepdia! Now there’s the fountain of all knowledge. It is well know that Wikepdia is not necessarily as accurate as people might imagine. Unless it makes a reference to with a link to a proven accurate source. Because I understand, but do not know for sure, that anyone can log in and amend any article.
There is a limit on how many coins of the same denomination you can offer for it to be legal tender. I have no idea what those limits are in this day and age. The quoted act was in 1971 that is nearly 37 years ago. Could not have found something closer to today?
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