Curious about currency
So obviously this would be really dumb to do but curious about coins and their value. Say you had a 1oz $50 gold coin. Technically they are legal tender. So if you took one to your bank and said you wanted to make a deposit, are they required to take it and then put $50 in your account?
If so, that brings up a whole new set of questions. Why are they putting a dollar figure on .999 coins? Does it effect anything like the inflation numbers or is there a benefit the government that is the equivalent of tax breaks for citizens. Like it costs them $4k to make in materials plus whatever the minting process costs, but then legally they say it’s worth $50 are there reasons for this or have they just basically accepted that it’s just stackers/collectors item at this point.
What’s to stop a state that gets federal money, or another country that we owe money to from requiring payment in $50 coins at face value. Can we ask for our tax refunds to be paid this way since it is legal tender.
I know these is all crap questions that aren’t really feasible but what’s to say they aren’t? Just thought it would be an interesting shitpost discussion.