Steps to reproduce on 48efbdb:
0-> settxfee 0.04
1<- true
2
3-> sendtoaddress mwEHWzBhaPYiErWWhmWW7QCjGoKNPaQQax 16
4<- Error: The transaction was rejected! This might happen if some of the coins in your wallet were already spent, such as if you used a copy of wallet.dat and coins were spent in the copy but not marked as spent here. (code -4)