Thank you @ronaldoavelino - I know this is the case in the United States, where I live. I was not sure if other sovereign governments around the world had a similar status reserved for coins as government mandated legal tender.

Yes exactly right on the spot + premium. In fact, one justification for the premium is this legal tender guarantee. My LCS does not have a lot of ASEs recently but great stocks of older American Morgans and Peace Dollars. As you say he will offer to buy spot on generics and not much premium on the coins.