Commodity Prices

Gold •525 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,676.60	+29.40	+1.78%
WTI Crude •11 mins	58.41	-0.05	-0.09%
Gasoline •14 mins	1.782	-0.008	-0.46%
Ethanol •525 days	2.161	+0.000	+0.00%
Silver •525 days	30.82	+1.16	+3.92%

Silver • 525 days	30.82	+1.16	+3.92%
Copper • 525 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	62.13	-0.08	-0.13%
Natural Gas • 11 mins	4.599	+0.004	+0.09%
Heating Oil • 12 mins	2.269	-0.004	-0.18%

Headlines

910 days Will The ECB Continue To Hike Rates?
910 days Forbes: Aramco Remains Largest Company In The Middle East
912 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,312 days Could Crypto Overtake Traditional Investment?
1,316 days Americans Still Quitting Jobs At Record Pace
1,318 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,321 days Is The Dollar Too Strong?
1,322 days Big Tech Disappoints Investors on Earnings Calls
1,323 days Fear And Celebration On Twitter as Musk Takes The Reins
1,324 days China Is Quietly Trying To Distance Itself From Russia
1,325 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,328 days Crypto Investors Won Big In 2021
1,329 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,330 days Food Prices Are Skyrocketing As Putin’s War Persists
1,332 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,332 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,335 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,336 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,336 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,338 days Are NFTs About To Take Over Gaming?

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Douglas V. Gnazzo

Douglas V. Gnazzo is the retired CEO of New England Renovation LLC, a historical restoration contractor that specialized in the restoration of older buildings and…

More Info

Contact Author

Legal Tender

By Douglas V. Gnazzo - Aug 28, 2010, 4:35 PM CDT

Editors note: This is chapter 6 of Douglas Gnazzo's eBook Honest Money.

Legal tender laws result from the difference between the legal and the economic definitions of money. The two definitions need not be different, although they usually are. They can be the same. It depends on the type of monetary system in use and the policies it follows and conforms to.

In an honest monetary system there is no difference between the two definitions. Money is the same, however it is used. An ounce of silver is an ounce of silver. No further names need be attached, to do so only confuses and complicates the issue.

Honest Money -- Legal Tender, Chapter 6