A coin of the United States was legal tender at first, but was removed from this status. Nevertheless, they made millions more of them. What coin was this, and why did they go on making them?

star_gazer

Wooden nickels were continued to be made as novelty items. http://www.wooden-nickel.net/history/ Jun 15 07, 3:29 PM

Baloo55th

Nope. They weren't legal tender. The ones I'm asking about were made by the US Mint. Jun 15 07, 5:19 PM

rlaj	I would say the gold coin would fit your description. Gold coins were outlawed as legal tender in 1933 by FDR. They are still minted as collector coins. http://en.wikipedia.org/wiki/1933_Double_Eagle Jun 15 07, 5:55 PM

star_gazer

The 1933 Gold Double Eagle would seem to qualify except that millions of them were not made. Jun 16 07, 1:47 AM

Baloo55th

Nope. Cheaper than gold (but dearer than wooden nickels...) Jun 16 07, 6:04 AM

Baloo55th

The United Kingdom minted a coin with the same name as this one, but starting about 20 years later. That one wasn't legal tender in the UK, just as the American one ended up. A lot of places (including some unlikely ones) had in earlier years minted ducats that weren't anything to do with their own normal coinages..... Jun 18 07, 2:45 AM

queproblema

Aren't ducats gold? Lots of countries apparently made "pieces of eight," but I can't find that the U.S. did, even though it was legal tender until 1857. http://en.wikipedia.org/wiki/Spanish_dollar I'm done. Jun 19 07, 11:32 AM

Baloo55th

Why would countries make coins not for use in their own lands? Japan made a coin with this name, too. And rather appropriately there are reported to be a load of Chinese made perfect copies of the US one around...... Jun 19 07, 3:00 PM

queproblema

If you're taking about the trade dollar used for opium, I'm going to scream....and absolutely refuse to find a reference. That was the first thing I looked at since I've been looking into the Opium Wars anyway, but I couldn't find a single note about not being legal tender and then millions more made. Jun 19 07, 3:44 PM

Baloo55th

A Yay!!! for QP (I can't afford to award a silver trade dollar!). "In 1876, a decrease in silver prices made the face value above the silver value, which led to millions of Trade Dollars suddenly showing up in California. On July 22, 1876, Congress removed the legal tender status on the coin. The Trade Dollar remains the only American silver coin to have lost its legal tender standing." http://www.blanchardonline.com/blanchard_products/trade_dollar.php Which backs up my (book) info. They were made primarily for trade in foreign parts, like their British and Japanese counterparts. Similarly the ducats minted by places that had never had a ducat as part of their coinage. The reasons for this was that in certain parts of the world the local currency wasn't trusted - hence also the minting of the 1785 Maria Theresa thaler for so many years, and in places ranging from London to Moscow.. Jun 19 07, 3:54 PM

queproblema

How did the Dragon Lady on Terry and the Pirates scream? AAAaaaaiiiiiii!!! Something like that? Yes, it reminds me of the thaler, too. Frankie had a question on that a while back. But, were the "millions more" minted after 1876? "The History of the World in Six Glasses" by Tom Standage traces the travels of the trade dollars in a way simple enough for me to follow. http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/books/history/article1896693.ece Jun 19 07, 9:11 PM

Baloo55th

5 million plus in 1876, 12 million in 1877, 4 million in 1878, but only proofs after that. Jun 20 07, 12:42 PM

bjr2101

It was the "Mil". 1/1000th of a dollar or 1/10th of a cent. Aug 10 07, 2:40 PM

Baloo55th

The mil as 1/1000 of a dollar was Hong Kong - different dollar. Other mils were in Malta, Cyprus, Israel and Palestine (1/1000 of a pound). (Krause & Mishler) Aug 10 07, 4:36 PM