it is still taking coinage of the realm out of circulation, which is one of the issues that the lawyer's letters raise....
I guess if you took that philosophy, then technically money would
out of circulation whether its in a purse, a wallet, a cash
register, under a mattress, on your dresser top or stored in a safety
deposit vault in a bank. Your customers just wish to store their
money on a chain around their neck. Remember soap on a rope?? This is
like a wallet on a chain. :-