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Who is responsible for determining what maybe issued as legal Currency?
Treasure
Who is responsible for determining what may be issued as a legal currency?
In most countries, the responsibility for determining what may be issued as legal currency lies with the central bank or monetary authority. They are typically empowered by government legislation to issue and regulate the country's official currency. In some cases, the government may have a role in setting or approving the currency's issuance, but the central bank is usually the primary authority in this matter.
Why currency notes are issued?
All currency issued by a government or their issuing authority such as a mint or central bank is legal tender, meaning that it can be spent by consumers and accepted by businesses as a legal exchange of goods or services for money that the government can guarantee. Currency ceases to be legal tender when it has been demonetised.
Is a banknote issued by The Central Bank of China in 1949 still legal tender?
Depends if the currency it was drawn in is still legal tender. If the currency no longer exists then you won't be able to cash it.
Value of a Ten Dollar bill issued by the State of New York dated August 13 1776?
$1050 legal currency
What does the word MONIES mean?
The most common medium of exchange; functions as legal tender.The official currency issued by a government or national bank.
MAy a state create its own currency?
No - the US constitution reserves the creation of currency to the federal government. However, states have issued tokens in thousands of a dollar for sales tax purposes, but these are not legal tender.
Are all us dollars legal tender?
All currency issued by the US Treasury are legal tender, that is they can be used to pay for products and services, within those areas that are a part of the United States.
What act did the federal government issued paper money under what?
The federal government issued paper money under the Legal Tender Act of 1862. This legislation allowed the U.S. Treasury to issue paper currency, known as "greenbacks," to help finance the Civil War. The Act declared that these notes were valid for all debts, public and private, thereby establishing them as a legal form of currency in the United States.
Is a gold plated hundred dollar bill legal tender?
A gold-plated hundred dollar bill is not considered legal tender. While the bill itself is legal currency, the addition of gold plating alters its original form and could lead to it being treated as a novelty item rather than official currency. To be legal tender, it must remain in its original condition issued by the U.S. Treasury.
What is the history behind the US one dollar bill?
The American Dollar bill has the oldest design in all of the U.S. Currency. The first dollar bill was issued as legal tender in 1862. The motto In God We Trust was required on all currency in 1955.
Legal tender money?
Legal tender money is currency recognized by a government as valid for settling financial obligations, like taxes, debts, or purchases. It must be accepted for payment within the jurisdiction that issued it. Examples include banknotes and coins issued by a government's central bank.
