Coin

Coin [fr. coign, Fr.; cuneus, Lat., a wedge], a piece of metal stamped with certain marks and made current at a certain value. The coining of money is in all states the prerogative of the sovereign power; and, as money is the medium of commerce, it is the Crown's prerogative and monopoly, as arbiter of domestic commerce, to give it authority or make it current.By the (English) Coinage Offences Act, 1861 (24 & 25 Vict. c. 99), it was made a felony to counter-feit coin; to colour or gild, so as to make a resemblance to gold or silver coin; to impair or lighten coin; to have in unlawful possession filings or clippings produced by impairing or lightening coin; to buy or sell or import or utter counterfeit coin. There were numerous other provisions tending to the suppression of the manufacturing, import in and uttering of counterfeit coin. See the (English) Counterfeit Currency (Convention) Act, 1935 (25 & 26 Geo. 5, c. 25), an Act to enable effect to be given to an International Convention...

Indian coin

Indian coin, referred. (Penal Code, 1860, s. 230)Indian coin is metal stamped and issued by the authority of the Government of India in order to be so used as money; and metal which has been so stamped and issued shall continue to be Indian coin for the purposes of Chapter XII; notwithstand-ing that it may have ceased to be used as money....

Maundy coins

Silver coins or money of the nominal value of 1d 2d 3d and 4d struck annually for the Maundy alms...

Rupee coin

Rupee coin, means rupees which are legal tender in India under the provisions of the Indian Coinage Act, 1906 (3 of 1906). [Reserve Bank of India Act, 1934 (2 of 1934), s. 2 (d)]...

Money

Money, means current coin; metal stamped in pieces as a medium of exchange and measure of value. Hence, anything serving the same purpose as coin, late ME. In mod. use applied indifferently to coin and to such promissory documents representing coin as are currently accepted as a medium of exchange, Shorter Oxford English Dictionary; see also C.I.T. v. Kasturi & Sons Ltd., (1999) 3 SCC 346.Money, the Black's Law Dictionary 5th Edn., defines the word 'money' thus: 'In usual and ordinary acceptation. It means coins and paper currency used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate, Lane v. Railey, 280 Ky 319, 133 SW 2d 74, 79, 81. See also Currency; Current money; Flat money; Legal tender; Near money; Scrip; Wampum. A medium of exchange authorized or adopted by a domestic or foreign Government as a part of its currency, VCC $1-2-1(24).' Stroud's Judicial Dictionary, 5th Edn., defines it as follows: 'Money as cu...

Money Bill

Money, means current coin; metal stamped in pieces as a medium of exchange and measure of value. Hence, anything serving the same purpose as coin, late ME. In mod. use applied indifferently to coin and to such promissory documents representing coin as are currently accepted as a medium of exchange, Shorter Oxford English Dictionary; see also C.I.T. v. Kasturi & Sons Ltd., (1999) 3 SCC 346.Money, the Black's Law Dictionary 5th Edn., defines the word 'money' thus: 'In usual and ordinary acceptation. It means coins and paper currency used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate, Lane v. Railey, 280 Ky 319, 133 SW 2d 74, 79, 81. See also Currency; Current money; Flat money; Legal tender; Near money; Scrip; Wampum. A medium of exchange authorized or adopted by a domestic or foreign Government as a part of its currency, VCC $1-2-1(24).' Stroud's Judicial Dictionary, 5th Edn., defines it as follows: 'Money as cu...

Pyx

Pyx [fr. puxiV Gk., a box], the box in which sample coins are kept. For the purpose of ascertaining that coins issued from the Mint have been coined in accordance with law, a 'trial of the pyx' is held once at least in every year in which coins have been issued; see the (English) Coinage Act, 1870 (33 & 34 Vict. c. 10), s. 12. The trial takes place before a jury of members of the Gold-smiths' Company....

Seigniorage

Seigniorage, a royalty or prerogative of the Crown, whereby an allowance of gold and silver, brought in the mass to be exchanged for coin, is claimed.Seigniorage, has two distinct meanings (i) profit made by a Government by issuing currency, the Crown's right to charge a percentage on bullion brought to a mint for coining; and (ii) something claimed by a monarch or feudal lord as a prerogative, Divisional Forest Officer v. Tata Finlay Ltd., AIR 2001 SC 2672. [See Kerala Grants and Leases (Modifications of Rights) Act (16 of 1980), s. 4]Means profit made by a Government by issuing currency; the difference or margin between the face value of coins and their production costs; the crown's right to charge a percentage on bullion brought to a mint for coining; the amount charged, something claimed by a monaonch or feudal lord as a prerogative, Divisional Forest Officer v. Tata Finlay Ltd., (2001) 5 SCC 684....

Tender

Tender, means an unconditional offer of money or performance to satisfy a debt or obligation, Black's Law Dictionary, 7th Edn., p. 1479.Tender, offer; proposal for acceptance.1. An unconditional offer of money or performance to satisfy a debt or obligation2. Something unconditionally offered to satisfy a debt or obligation3. An offer or bid put forward for acceptance, Black's Law Dictionary, 7th Edn., p. 1479.A tender of satisfaction is allowed to be made inmost actions for money demands. It need not be made by the debtor personally to the creditor personally; it may be made through an authorized agent, and a tender to one of several joint creditors is sufficient. A tender must be absolute and unconditional, and the money must be actually produced at the time of the tender, unless that be dispensed with by the creditor; but a tender under protest is good in law, so long as no condition is imposed, Greenwood v. Sutcliffe, (1892) 1 Ch 1 CA.If a defence set up tender, the money alleged to...

mint state

A numerical grade indicating the degree of perfection of the condition of a coin which is classified as uncirculated ranging from 70 for a coin in perfect condition to 60 for a coin which is uncirculated but may have a weak strike or numerous small scratches from being handled in mint bags usually used as the abbreviation MS as an MS 67 Morgan Dollar...

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