A penny is a LEGAL tender.............and why they are not accept as money

[obdigore]

By law, US money is "LEGAL TENDER" for all debts public and private.

This means they have to accept payments in US currency. They can choose to only accept credit cards, only accept checks, not accept bills over $20, not accept pennies.

They only have to not force you to pay in foreign currency. the method of payment is 100% up to them.

If I ran a store, I could flat out refuse all cash transactions. It would be weird, it would be bad for business, but it would not in any way be illegal.

Maybe something like the Post Office or other public service (official, tax funded) could be compelled to accept it, but I really doubt it.

Correct, but if you sold something to someone, told them to come back and pay you later without clarifying your policy, you could not then refuse cash payment.

And the Post Office is not funded by any Taxes. Although it is not allowed to make drastic changes unless approved by the US Congress (which is why it is having so many problems), it receives no Tax Money, all revenues are from Stamps and Shipping.

[belfpala]

If I ran a store, I could flat out refuse all cash transactions. It would be weird, it would be bad for business, but it would not in any way be illegal.

It's not weird. I do run a business. I refuse any personal checks. I allow tabs in the dining room, but if you want a tab in the bar, you put plastic down first, which the bartender keeps until you sign off.

[obdigore]

It's not weird. I do run a business. I refuse any personal checks. I allow tabs in the dining room, but if you want a tab in the bar, you put plastic down first, which the bartender keeps until you sign off.

This is standard practice here in DE at least. What state are you in, if I might ask?

I don't have to put a Card down at the places I'm 'known' now, but if its a new Bartender or if I go into somewhere I don't go regularly and want to run a tab instead of paying for drinks I have to put a card down.

[belfpala]

This is standard practice here in DE at least. What state are you in, if I might ask?

I don't have to put a Card down at the places I'm 'known' now, but if its a new Bartender or if I go into somewhere I don't go regularly and want to run a tab instead of paying for drinks I have to put a card down.

Currently in Minnesota. Go Vikings! Or something.

Yeah, absolutely, knowing the bartender gets you everywhere. The card up front policy isn't absolute, it's just the baseline. You can't imagine (or maybe you can imagine...) how many drunk people just wander off "forgetting" to pay their tabs. Good luck, I have your card now.

As I said twice before, I think, and hinted at in my last post: I allow tabs in the dining room. I serve food. They eat. They try to pay in pennies... well, now I'm fucked, right? No. I'd make a game of it. "Alright sir, I'll need you to come to the bar to count all those pennies in front of me. [NOW IN A LOUD VOICE] If you can make 30 stacks of 100 pennies without knocking any stack over, the entire bar gets a round on the house."

[obdigore]

Currently in Minnesota. Go Vikings! Or something.

Yeah, absolutely, knowing the bartender gets you everywhere. The card up front policy isn't absolute, it's just the baseline. You can't imagine (or maybe you can imagine...) how many drunk people just wander off "forgetting" to pay their tabs. Good luck, I have your card now.

I'm from MN, Minneapolis actually. You run any place I might know?

[Cthulhu 2020]

There are services and then there are goods. Services are typically rendered before payment is given. If services are rendered and payment is offered in pennies, then the servicers either have to accept the payment of debt in pennies, or refuse payment. For goods, payment is given before goods are exchanged. Someone who deals in goods can refuse payment of a given variety and thus refuse to give you their goods. Pennies must also be taken for any debt owed to the government, as it is legal tender for public institution.

But really, if you have a ton of coins, take them to the bank. They have coin counters and will gladly give you some paper if you hand them a jar of coins. Saves you a lot of time and hassle.

[araine]

To me a penny is a penny and is a legal tender but i seen these video of people pay in " penny " for parking ticket and utilities bill and that they will NOT accept them and is LEGAL TENDER just like a DOLLAR but i don't get it. I have a big jar halfway full of loose change and if i need a few dollar i roll a few and good to go and to me that MONEY and by law that institution and store must accept as money. And there have bend a few incident that bank and store REFUSES to accept this as legal tender and i call the cops and i pointed out that even thought they are roll up they REFUSES to accept them as LEGAL TENDER

and i just want to see what your opinion about the " penny or other legal coin tender " and if you bend denied service for paying in loose change or in only penny

No different than stores refusing to accept 50 and 100 dollar bills legal tender etc doesnt matter store owner can refuse anything he so like and that is viewed as to much hazzle and or risks to deal with.

---------- Post added 2012-02-28 at 08:27 AM ----------

There are services and then there are goods. Services are typically rendered before payment is given. If services are rendered and payment is offered in pennies, then the servicers either have to accept the payment of debt in pennies, or refuse payment. For goods, payment is given before goods are exchanged. Someone who deals in goods can refuse payment of a given variety and thus refuse to give you their goods. Pennies must also be taken for any debt owed to the government, as it is legal tender for public institution.

But really, if you have a ton of coins, take them to the bank. They have coin counters and will gladly give you some paper if you hand them a jar of coins. Saves you a lot of time and hassle.

And you will also be expected to pay a fee to change the coins in. some banks charge 6% of the coin value in fee

[obdigore]

And you will also be expected to pay a fee to change the coins in. some banks charge 6% of the coin value in fee

If you have an account at the bank, you can generally use their coin counting machines for free. At least I could at TCF and I can at Wells Fargo/Wachovia.

[Agent Mercury]

Putting all the change into a brown leather bag (Ya know like the one from video games) and handing it to them is just so satisfying!

[LordDios]

if you pay for 100 dollars worth of goods with pennies or nickels or any sort of small change i will take them, put them in a bag, AND BEAT YOU TO DEATH WITH THEM. i'm not a coin counting machine, and stores dont accept rolls because quite frankly you could have put in the wrong amount or something like that.

[Deleted]

Correct, all debts. If you pump your gas and then go to pay with a $100 bill, but the gas station refuses and calls the cops, you can tell the cops that you tried to pay with that $100 and they wouldn't take it and the cops can do nothing about it (assuming the clerk did not point out that you couldn't use a $100 before you pumpted the gas).

But, if you have to prepay and try to give them the $100 before you pump the gas, they don't have to take it or give you any gas.

Actually in this case the cops will most likely check that the note is not a forgery then tell the gas station attendant to take the note and stop wasting police time. They can't force him to but I can't imagine most wouldn't be cowed into obedience.

Also, banks won't take your jar of pennies as most now insist that they're split up into money bags of correct weight (In the UK, thats £1 of 1p/2p, £5 of 5p/10p, £10 of 20p/50p or £20 of £1/£2). They're moer than happy to accept your change in the correct format.

[Exoblade]

Im not from the usa so i don't know your laws but taking a jar of coins to pay for something at the store is a dick move in any country.

[noteworthynerd]

Actually in this case the cops will most likely check that the note is not a forgery then tell the gas station attendant to take the note and stop wasting police time. They can't force him to but I can't imagine most wouldn't be cowed into obedience.

Meh, if the gas attendant refuses then the customer can go on their way. I've not seen it happen, but I've been told stories. Most of the gas stations where I live are just now getting around to installing pay-at-the-pump credit card machines.

Also, banks won't take your jar of pennies as most now insist that they're split up into money bags of correct weight (In the UK, thats £1 of 1p/2p, £5 of 5p/10p, £10 of 20p/50p or £20 of £1/£2). They're moer than happy to accept your change in the correct format.

I know that, I work for a bank. In fact, if you go through the thread you can see me explain this exact same thing from a U.S. perspective (i.e. coin "rolls" instead of "bags".

[sizzlinsauce]

its only illegal if they refuse payment on an owed debt and still wish for you to pay them in another manner. but stores? you dont owe them shit so they can say fuck you all they want.

[timelydemise]

In a while people won't be worried about pennies anyway. Even cash isn't worth the paper it's printed on and before too long only precious metals such as gold and silver will be worth a hoot.