Understanding Lawful Money

Explain : Lawful Money

Lawful money is any form of currency issued by the United States Treasury and not the Federal Reserve System. It includes gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, in which the government assigns value although it has no intrinsic value of its own and is not backed by reserves. Fiat money includes legal tender such as paper money, checks, drafts, and banknotes.

Lawful money is also known as "specie," which means "in actual form."

[williestacket]

Are coins (nickels dimes quarters) lawful money ?
All are from the treasury

[dwaindibley]

Legally, the term 'lawful money' is a meaningless term and that's because congress never defined it. It's left open to subjective interpretation so it can mean whatever congress, the Fed, or the courts say it is whenever that want it to mean something. Curently, the court's interpretation of lawful money is any monetary instrument produced by the government, to include Federal Reserve notes. Yes, FRNs are produced and are owned by the USG, the Fed merely issues them for circulation. Yea I know, shocker, am I