About Cookies on this site - This site uses Cookies to improve your online experience. By continuing to use this site without changing your cookie preferences we will assume that you are agreeing to our use of cookies.
Call us:+44-20-369-50335, Monday-Friday 9am-5pm
Enquiry details 
W
Phone
W
Thank you for your request.

We will call you in a few minutes.

CurrencyEuro
LanguageEnglish
Ship ToAustria
LBMA Associate
Menu
Charts
Search
HomeGlossaryLegal Tender

Glossary


Legal Tender

Legal tender is a legally recognised medium of payment that can be used to meet financial obligations or extinguish debt. In many countries, coins and paper currency are legal tender. However, what is regarded as legal tender varies. 

Coins issued by the Royal Mint, including gold and silver bullion coins, are the only form of legal tender recognised throughout the UK, for example. 

Credit cards, personal cheques and other goods are not legal tender. Often, you will come across a bullion coin that is listed as legal tender backed by a government. Should you wish, you can use the coin as a legally recognised method of payment to settle debt in that country.