Legal tender

demonetizationdemonetizedtenderdemonetisedcurrentdemonetisationlegalcoin of the realmcommon currencydemonetization fiasco in India
Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation.wikipedia
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Coin

coinsspecieexergue
Paper currency and coins are common forms of legal tender in many countries. Coins and banknotes are usually defined as legal tender.
A coin is a small, flat, (usually) round piece of metal or plastic used primarily as a medium of exchange or legal tender.

Currency

currenciesforeign currencycoinage
Paper currency and coins are common forms of legal tender in many countries.
Some currencies are legal tender in certain political jurisdictions.

Eurozone

euro areaeuro zoneeurozone Member States
Currencies used in the Eurozone before being replaced by the euro are not legal tender, but all banknotes are redeemable for euros for a minimum of 10 years (for certain notes, there is no time limit). Euro coins and banknotes became legal tender in most countries of the Eurozone on 1 January 2002.
The eurozone, officially called the euro area, is a monetary union of 19 of the 28 European Union (EU) member states which have adopted the euro as their common currency and sole legal tender.

Payment

compensationpaymentspayee
Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation.
In general, the payee is at liberty to determine what method of payment he or she will accept; though normally laws require the payer to accept the country's legal tender up to a prescribed limit.

Numismatics

numismaticnumismatistnumismatists
The closest historical equivalent in the US, other than Confederate money, was from 1933 to 1974, when the government banned most private ownership of gold bullion, including gold coins held for non-numismatic purposes.
It is related to numismatics proper (concerned with coins which have been legal tender), and many coin collectors are also exonumists.

Bullion coin

speciebullion coinsbullion
These, however, although having the status of legal tender, are almost never circulated or used in payment of debts, and are mostly considered bullion coins.
The United Kingdom defines investment coins more specifically as coins that have been minted after 1800, have a purity of not less than 900 thousandths and are, or have been, legal tender in their country of origin.

Non-circulating legal tender

medal-coinmedal-coinsdoes not circulate widely
Some countries issue precious-metal coins which have a currency value indicated on them which is far below the value of the metal the coin contains: these coins are known as "non-circulating legal tender" or "NCLT".
Non-circulating legal tender (NCLT) refers to coins that are theoretically legal tender and could circulate but do not because their issue price, and/or their melt value at the time of issue is significantly above the arbitrary legal tender value placed thereon.

Withdrawal of low-denomination coins

withdrawn from circulationdemonetizeddemonetisation
The one cent and two cent coins have been withdrawn from circulation since February 1992 but remain legal tender.
In some countries, such as New Zealand, withdrawn coins are declared to be no longer legal tender; in other countries, such as Australia, they remain legal tender indefinitely.

Euro

EUReuros
Currencies used in the Eurozone before being replaced by the euro are not legal tender, but all banknotes are redeemable for euros for a minimum of 10 years (for certain notes, there is no time limit). Euro coins and banknotes became legal tender in most countries of the Eurozone on 1 January 2002.
The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002.

Decimalisation

decimal currencydecimaliseddecimalization
The United Kingdom, adopting decimal currency in place of pounds, shillings, and pence in 1971, Banknotes remained unchanged (except for the replacement of the 10 shilling note by the 50 pence coin). In 1968 and 1969 decimal coins which had precise equivalent values in the old currency (5p, 10p, 50p – 1, 2, and 10 shillings respectively) were introduced, while decimal coins with no precise equivalent (½p, 1p, 2p – equal to 1.2d (old pence), 2.4d, and 4.8d respectively) were introduced on 15 February 1971. The smallest and largest non-decimal circulating coins, the half penny and half crown, were withdrawn in 1969, and the other non-decimal coins with no precise equivalent in the new currency (1d, 3d) were withdrawn later in 1971. Non-decimal coins with precise decimal equivalents (6d ( = 2½p), 1, and 2 shillings) remained legal tender either until the coins no longer circulated (1980 in the case of the 6d), or the equivalent decimal coins were reduced in size in the early 1990s. The 6d coin was permitted to remain in large circulation throughout the United Kingdom due to the London Underground committee's large investment in coin-operated ticketing machines that used it. Old coins returned to the Royal Mint through the UK banking system will be redeemed by exchanging them for legal tender currency with no time limits; but coins issued before 1947 have a higher value for their silver content than for their monetary value.
The farthing, at 1⁄4 penny, was never converted, as it ceased to be legal tender a decade prior to decimalisation.

Perth Mint

Royal Mint at PerthPerth Branch of the Royal MintPerth Branch of the Royal Mint of Great Britain
Under this provision the Perth Mint, owned by the Western Australian Government, still produces gold and silver coins with legal tender status, the Australian Gold Nugget and Australian Silver Kookaburra.
Along with the Royal Australian Mint, which produces coins of the Australian dollar for circulation, the Perth Mint is the older of the two mints issuing coins that are legal tender in Australia.

Australian Gold Nugget

Australian Kangaroo/NuggetAustralian Nugget Gold Coins SeriesGold Nugget
Under this provision the Perth Mint, owned by the Western Australian Government, still produces gold and silver coins with legal tender status, the Australian Gold Nugget and Australian Silver Kookaburra.
They have legal tender status in Australia and are one of few legal tender bullion gold coins to change their design every year, another being the Chinese Gold Panda.

History of the British farthing

farthingfarthing (¼d)one farthing
Individual coins or banknotes can be demonetised and cease to be legal tender (for example, the pre-decimal United Kingdom farthing or the Bank of England 1 pound note), but the Bank of England does redeem all Bank of England banknotes by exchanging them for legal tender currency at its counters in London (or by post) regardless of how old they are.
These pieces were made current by a proclamation of 14 November of that year, that made them legal tender to sixpence.

Renminbi

yuan¥RMB
In the People's Republic of China, the official currency renminbi serves as the unlimited legal tender for all transactions.
The renminbi is legal tender in mainland China, but not in Hong Kong or Macau.

Iraqi Swiss dinar

so-called Swiss dinarSwiss dinar
When the Iraqi Swiss dinar ceased to be legal tender in Iraq, it still circulated in the northern Kurdish regions, and despite lacking government backing, it had a stable market value for more than a decade.
After the Gulf War, the Iraqi government disendorsed the old currency, favoring newly printed Saddam dinars, and the Swiss dinar ceased to be legal tender.

Canadian dollar

CAD$C$
In general, Canadian dollar banknotes issued by the Bank of Canada and coins issued under the authority of the Royal Canadian Mint Act are legal tender in Canada.
This gold standard was introduced with the gold sovereign being legal tender at £1 = US$4.86 2⁄3.

Cash rounding

roundeda rounding conventionabandoned
Although some eurozone countries do not put 1 cent and 2 cent coins into general circulation (prices in those countries are by general understanding always rounded to whole multiples of 5 cent), 1 cent and 2 cent coins from other eurozone countries remain legal tender in those countries.
Cash rounding may be a compulsory legal requirement if such coins are no longer legal tender, or a voluntary practice where they remain in circulation but are scarce or impractical.

New Zealand dollar

NZ$NZD$
The Act came into force in 1967 establishing as legal tender all New Zealand dollar five dollars banknotes and greater, all decimal coins, the pre-decimal sixpence, the shilling, and the florin.
The New Zealand dollar (sign: $; code: NZD, also abbreviated NZ$) (Tāra o Aotearoa) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands.

Banknote

paper moneybanknotespaper currency
Coins and banknotes are usually defined as legal tender.
National banknotes are generally legal tender, meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial obligation.

Swiss franc

CHFFrankfrancs
The Swiss franc is the only legal tender in Switzerland.
The franc (Franken, French and Romansh: franc, franco; sign: Fr. or SFr.; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia.

Bhutan

🇧🇹Kingdom of BhutanBhutanese
The Indian rupee is also legal tender in Nepal and Bhutan, but the Nepalese rupee and Bhutanese ngultrum are not legal tender in India.
The rupee is also accepted as legal tender in the country.

Central Bank of Ireland

Central BankBanc Ceannais na hÉireann'' / Central Bank of IrelandCentral Bank and Financial Services Authority of Ireland
According to the Economic and Monetary Union Act, 1998 of the Republic of Ireland which replaced the legal tender provisions that had been re-enacted in Irish legislation from previous British enactments, "No person, other than the Central Bank of Ireland and such persons as may be designated by the Minister by order, shall be obliged to accept more than 50 coins denominated in euro or in cent in any single transaction."
British banknotes (British Treasury notes, Bank of England notes), and notes issued by Irish banks circulated (but only the first were legal tender) and British coins remained in circulation.

Gold standard

goldgold exchange standardbacked by gold
In 1914, the Banking Amendment Act gave legal tender status to bank notes from any issuer and removed the requirement that banks authorised to issue bank notes must redeem them on demand for gold (the gold standard).
In 1833 however, Bank of England notes were made legal tender and redemption by other banks was discouraged.

Kuwaiti dinar

KWDKDDinar
Two states, Kuwait and Bahrain eventually replaced the Gulf rupee with their own currencies (the Kuwaiti dinar and the Bahraini dinar) after gaining independence from Britain in 1961 and 1965, respectively.
After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.

Euro coins

images of the common sidecoinseuro coin
Euro coins and banknotes became legal tender in most countries of the Eurozone on 1 January 2002.
Unlike normal issues, these coins are not legal tender throughout the eurozone, but only in the country where they are issued (e.g. a €10 Finnish commemorative coin cannot be used in Portugal).