Angry At The Banks.

What are you paying for?



You mean they won't exchange their paper for your coins?

It cost my banks very little, in time and money. My three banks actually enjoyed dealing with me and were always curious of my finds. I saved them money by taking their coin directly, thousands of dollars at a time, eliminating courier fees. It seems like my transactions are always made during the banks slow times(down time, more often than not), and at the end of the month were earning more money from me than I was making through roll hunting.

Unless you want a wedding cake. or a haircut http://nypost.com/2015/09/08/barber...womans-hair/

I go into random banks all the time and ask for rolls. Never boxes, though. They never once questioned me. They're also not a bank on a national level, though. They all are locally run banks.

Goods and services yes, debts are a different story. Goods and Services are not debts, but purchases, there is a difference. When a debt is incurred so does the concept of legal tender.

A business can refuse any form of cash, such as pennies, bills over a certain amount etc. if a debt has not yet incurred.

Take a look at a Federal Reserve Note, it says it right there:

(emphasis added)

Owe someone money, pay in legal tender. If they don't accept it, the debt is noncollectable and extinguished upon rejection.

Nope, so wrong. I recently found out why banks around me don't have coin counting machines. State law requires banks to accept ANY rolled coins as a deposit. That Is how I got a dump bank where I don't and cannot order coins, but they cannot refuse to accept them either. One of the reasons I haven't been as active in the $100k project is because I haven't spent as many dollars and halves. The odd thing is, the bank must follow the same as other on sending out coins, and they never had $1000 of dollars or $500 of halves since they said they never got them deposited before, so someone is buying them from them so they MIGHT be going into circulation. But that if for whoever puts them to record in the project $100k, not me.

So legal tender is defined as others say, BUT states can order banks to take rolled coins for deposits. You can't really say it is a choice for a bank, or store to just do what they want under "legal tender" because that is what the federal government says. You also need to check state laws, because a bank cannot operate within a state without being granted by that state an operating license, and renewing it.




What do you mean back then? Now it is still pump before you pay. I never had a problem spending several rolls of halves at the gas station, and sometimes it is BEFORE pumping that I give them the dollars/halves as payment. Now more places WANT you to pump before you pay, that way you can pay AT the pump with a card of some sort and don't take up the time of the cashier/attendant/whatever they are called now. Gives them more time to take those rolls of coins when someone like me comes along and pays with them.

Actually it is right on. Legal Tender has nothing to do with deposits, it only applies to debts.

While I have never heard of any state laws requiring coins to be accepted as a deposit, if there are such laws then they might use the term legal tender to describe the coins. It is only borrowing a phrase.

Again, assuming you are correct in your assertion that a bank must, in certain unnamed states, accept coins for deposit, that would apply only to customers of that bank and not require the bank to return USC for the coins.