Non-circulating Legal Tender Coins

Non-Circulating “Legal Tender” (NCLT) is what collectors call coins produced in the name of various countries for the sole purpose of making money through sales on the numismatic market. If you show such a coin to the man on the street in the country of issue you will probably get a puzzled look and a question like “what is this” if you are lucky, and arrested or robbed if you are not. Private mints or promotors would get a small county or official to sign off on the idea for a percentage of the final sales total after the coins were produced and distributed. Example: Liberia 25 dollars 1997. This two and a half ounce pure silver coin commemorates the 25th anniversary of the Standard Catalog of World Coins published in Iola, Wisconsin. The promoter of this idea was Krause Publications, publisher of the book. Pobjoy Mint (private mint in London) produced the coins and the entire production of these coins was distributed by KP as subscription premiums and gifts to employees. Sadly a large number of these were sold at melt value when the price of silver jumped up.