Please! Educate me about "not intended for circulation"

[Phillip_in_NM]

Please! Educate me about "not intended for circulation"

On my last silver hunting expedition, I must have seen at least a couple hundred 2003 and 2004 halves. Most were in very nice condition, but I didn't keep a one - a local casino cashed them for me.

Are these halves "not intended for circulation" worth anything extra right now? I've got just under $500 tied up in silver halves right now. While I keep the rare proofs I've come across, I've not kept anything beyond them and the silver.

As much as I like this hobby, I'd like to find something amongst the halves that will pay me for my gas and time but still let me keep the silver.

Thanks in advance for your thoughts.

Phillip

 

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[Jeffro]

Re: Please! Educate me about "not intended for circulation"

From Wikipedia-

Sometimes currency issues such as commemorative coins or transfer bills may be issued that are not intended for public circulation but are nonetheless legal tender. An example of such currency is Maundy money. Some currency issuers, particularly the Scottish banks, issue special commemorative banknotes which are intended for ordinary circulation. As well, some standard coins are minted on higher-quality dies as 'uncirculated' versions of the coin, for collectors to purchase at a premium; these coins are nevertheless legal tender. 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".

Those halves that are not meant for circulation more than likely served two (or more) purposes. First being for collectors, probably most of these issued in sets. The second, that I can think of anyways, would be special orders from Nevada and other casinos that still use coinage. Some will find their way out of the casino, and this "shrinkage" needs to be replaced, or remove the machines. There are probably other uses, but these two come to mind first.

 

[Postalrevnant]

Re: Please! Educate me about "not intended for circulation"

From Wikipedia-

Sometimes currency issues such as commemorative coins or transfer bills may be issued that are not intended for public circulation but are nonetheless legal tender. An example of such currency is Maundy money. Some currency issuers, particularly the Scottish banks, issue special commemorative banknotes which are intended for ordinary circulation. As well, some standard coins are minted on higher-quality dies as 'uncirculated' versions of the coin, for collectors to purchase at a premium; these coins are nevertheless legal tender. 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".

Those halves that are not meant for circulation more than likely served two (or more) purposes. First being for collectors, probably most of these issued in sets. The second, that I can think of anyways, would be special orders from Nevada and other casinos that still use coinage. Some will find their way out of the casino, and this "shrinkage" needs to be replaced, or remove the machines. There are probably other uses, but these two come to mind first.

WOW that is one great thorough answer. Thank you. Was very inciteful to me as well.

Rev