Star Wars Coins Issued By Pacific Island Nation

19061969 wrote in with a link about how the Pacific Island of Niue is issuing a set of commemorative Star Wars coins. While the $2 coins can be used as legal tender on the island, the government hopes they'll be bought by collectors and help increase tourism to the tiny nation. From the article: "The coins, which will show a Star Wars character on one side and the Queen of England on the other, will be worth NZ$2, but made of NZ$117.25 worth of silver, meaning that if you're looking for practical tender, these aren't the coins you're looking for. 'You wouldn't want to go and spend them because they're only worth $2, but the value is much more than that,' Chris Kirkness of the New Zealand Mint told the Australian Associated Press."

news for nerds

[hjf]

Slashdot is finally honoring its slogan!

Re:I say buy all of them

[superwiz]

No, you don't want to melt them. Since they are legal tender, they can be declared at their face value for tax purposes. The moment you melt them, you'd "gain" the difference in price of the metal and the nominal value of the coin and owe taxes on it. This is different from US issuing golden eagle and such. The golden eagle is "circulated". So it cannot be used as legal tender.