What ever happened to NCLT?

[CaptJohn2]

When I worked at Krause, they used to have a special section in the catalog for Non Circulating Legal Tender (NCLT). But so many countries started pumping out "items" that were never meant to be spent, that Krause must have thrown in the towel on keeping them in their own category.

To me, NCLT is strictly bullion unless it is identical to circulating coinage. So silver proof sets of circulating coins are fine by me. Doesn't mean folks don't collect and like NCLT. The vast majority of NCLT sells for less than issue price in about a year after issue (if bullion spot prices remain stable). Course if silver doubles, they will most likely go up as well. At least the Hunt brothers bailed out a bunch of Franklin Mint "coin" collectors in 1980.

When's the last time anybody tried to spend a Pitcairn Islands $250 gold coin?

Oh, OK I do buy a few silver NCLT coins if they have a sailing ship pictured. But only at spot price - har!

[SensibleSal66]

Arrrhh Righty then !!

[Coin Mule]

Hey Cap, thanks for sharing this nugget of knowledge, isn't NCLT what they are now calling NIFC

Also I am fascinated by the use of the word "Bullion", to me Bullion is what I get when I take one standard contract of SIK1, and load out. When I pick up the 5000 troy ounces, it comes in industrial ingots, stamped with the name of manufacturer, serial #, and certification stamps. Not all shiny and mint like, really crude and ready to be melted down. It's like in automotive parts, "this part is made from billet aluminum", no the billet was the raw hunk of aluminum that was extruded into the rectangular block that the part was machined from. Anyway, my mini rant for the night.