When you see the denomination of $1 on a silver bullion coin, whats that all about? It's called face value. Matt explains! Buy all your favourite gold and silver bullion from your favourite bullion dealer at www.bullionnow.com.au/store

Thank you very much guys.

It’s the amount written on the coin. The end.

5:04 oh that makes sense

This creates an interesting loophole. One could buy a car from a car yard with a gold coin of trivial face value, since it's legal tender after all. Technically, the price of the car would be the denomination on the coin. This would reduce stamp duty requirements to the buyer, and income from the car yard, who could actually claim a loss on the vehicle. If the government is going to put absurd denominations on the coins (which is basically a form of criminal fraud) they need to accept the consequences.

Great work boys👍👍

Mark Dice has already done the choc vs bullion experiment on the street, same with some gold coins. it's in his youtube channel

I have a Swiss 1000gr silver bar. There is a stamp saying face value 75$. What's that all about?

Thanks for the video..........

So when importing and exporting these, how can the government charge based on the bullion or sale price for gst when the government has also stamped it with their value of $1? Shouldn’t they legally use their own determined value for this

Hi Guys- question Bullion coins minted in Australia as legal tender by the local mints(PM & RAM) is there any legal clause that states they need to release a percentage or a set number of coins for sale in Australia ? e.g RAM produced 250 gold desert scorpions this month but none was available for sale in Australia. Even though it’s legal Australian currency it’s not released for sale here which seems odd

so if i were to sell my 1oz silver coins to a coin shop, will the $1 face value coins only sell for $1 or will i get the value of the 1oz of silver instead?

Don't forget the currency is backed up by an FA 18

By "legal tender" does that mean you can go into a shop and buy stuff with a bullion coin?

If the face value came even near the spot price, they’d effectively have re-established a gold/silver standard..I believe there are some French silver Euro coins issued by the Monnaie de Paris that come a lot closer to a face/spot match. I could be mistaken.

its more fun putting a silver coin in the garter than a $5.00 note

Australian 5, 10 & 20c coins have an intrinsic value (nickel & copper) of 90% of face value. That's less premium than the silver kangaroo. So can't say that our currency doesn't have intrinsic value. 🤑

Why did they chose such a low face value of just $1 ? At least make it $10 since its a troy ounce of pure silver at the end of the day.

I give my strippers the silver coin

The reason the goverment does this is so they can come and "not" confisciare your metals for $1. Long live the queen lol

Face values are meaningless, a sovereign doesn't have a denominated amount, common knowledge know that it used to represent a British pound. When a currency value is engraved and pressed into existence it doesn't even represent any value (normally). A currency value merely indicates that a coin was produced by the official mint of a particular country. I have a 10oz coin with a £10 denomination and a kilo coin with a £500 denomination. Curiously there is an exception, the Royal Mint produced face value £100, £50, and £20 silver coins that do not cover or represent the intrinsic value of coins. They were minted to be sold at face value, but though declared legal tender, were marketed as commemorative coins, not meant for general circulation. If you go to KZfaq channel Julian Chamberlain, you can experience the issues of using 'high' value denominated legal tender coins being used to settle debts for goods and services.

You lot didn't explain anything. You don't actually know do you? Like wtf? You wasted my time a little here as well as some of my data costs.

1st