Legal Tender in Liberia and Palau

We were watching a program on Court TV Sunday night and up popped a commercial for the “Corvette Dollar,” the latest release from the National Collector’s Mint. I’m assuming that these types of things have to be considered legal tender in some country to be marketed as “coins,” and whenever I see these commercials I look for the small print that says where they are indeed legal tender. (Palau, in case you’re curious, in the case of the Corvette coin.)

Now I’m quite certain that these countries have a lot more to worry about than whether they are going to get a tourism rush of Americans trying to purchase goods with “Reagan Proofs” or whatever… but I always end up wondering a few things about them:

1. If I traveled there, would I, indeed, be able to use these coins to make purchases?

2. Do shopkeepers there feel inconvenienced at having to accept all manner of oddball U.S. “coins” as currency?

3. Does NCM pay these nations for the privilege of creating coins that are legal tender in that country?

These are the things I worry about while waiting for the washing machine to finish its cycle. It’s probably time I do some actual research to sort it all out.

Editor’s note: Although this post originally appeared in August, 2007, I have yet to visit Liberia or Palau.

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