If you save enough pennies you have a lot of money in no time. You can save the coin counter fee by rolling them yourself or go to your bank that has a coin counter. One year I had enough pennies saved to buy a $300. present for someone.
The comment from aircraft-engineer piqued my curiosity so I went to the U.S. Treasury web site and searched for “legal tender” and saw this:
Legal Tender Status
I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn’t this illegal?
The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.”
This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
cdward almost 14 years ago
I’m with Dad. If you won’t take ‘em, don’t make ‘em.
JudyCuddy almost 14 years ago
Legal tender. Gotta take it, it’s money too.
PNmom06 almost 14 years ago
Coinstar is a wonderful device…
RadioTom almost 14 years ago
PNmom06 said, about 2 hours ago
Coinstar is a wonderful device…
It should be, for a 6% charge… at least the ones around here charge…
Dry and Dusty Premium Member almost 14 years ago
If you save enough pennies you have a lot of money in no time. You can save the coin counter fee by rolling them yourself or go to your bank that has a coin counter. One year I had enough pennies saved to buy a $300. present for someone.
I miss PELICAN!
imjfc2 almost 14 years ago
The comment from aircraft-engineer piqued my curiosity so I went to the U.S. Treasury web site and searched for “legal tender” and saw this:
Legal Tender Status I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn’t this illegal?
The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.”
This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.
kershawfamily almost 14 years ago
@RT, try 9&1/2%