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 Replies: 39 / Views: 5,111 |
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Bedrock of the Community
United States
17884 Posts |
Quote:
Pre-existing debts like property taxes, traffic fines, credit card debts, etc., must accept legal tender in payment or stop all attempt to otherwise collect payment. The county I live in does not accept legal tender (cash) for payment of property taxes. Check or credit card only, and they have signs up to that effect at the courthouse. Quote:
That change in the law that makes all coins legal tender is fairly new (less than a decade old) so many do not yet know that it is the case. Coinage act of 1965 gave all coins unlimited legal tender status. (Some argument that joint resolution of Congress in 1933 did also.) |
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Pillar of the Community
United States
1817 Posts |
I pay with them if a sale is under $5.00, never had a problem spending them. Typically I have 4 or 5 with me at any time, I never get any back in regular store transactions since cashiers aren't really all that familiar with them. Mostly they come out of the vending machines at malls, the train station, etc. I live in Denver, so I go the Mint's gift shop to the Presidental Dollar change vendor and typically change $50.00 at a time. I may start carrying a coin tube if the dollars become more prevalent. The series has improved as time has gone. They are nice.
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Pillar of the Community
United States
917 Posts |
I got an e-mail from the Mint today, saying they credited me $250 for the return. I withdrew the same amount to buy 10 rolls of George Washington dollars from a local bank (None have were Godless; all coins were minted in Denver, based on one roll and all 10 came in the same box).
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Moderator
 United States
189053 Posts |
Quote:
The county I live in does not accept legal tender (cash) for payment of property taxes. Check or credit card only, and they have signs up to that effect at the courthouse. I still want to know if this has ever been challenged. It is possible they either made a (quiet) exception for the few people that have no bank account or credited them the cost of a postal money order. I do know one person that is cash only. He does not have a bank account, and therefore, no checking account. He pays for everything in person. Personally I feel this to be very inefficient, but it is his personal choice. If it has not been challenged already, I fee that ventually there will have to be a legal precedent to (in)validate this policy. |
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Pillar of the Community
United States
751 Posts |
I'm getting worn out trying to find banks that carry the fresh mint-wrapped coins. I'm thinking about buying some of the presidents via the direct ship program. If I'm not going nuts, they had a good selection of presidents the other day and now just a handful.  I'd like to put away both a D and P roll for each prez. So would a couple other members of my family. Has anyone had experience with these getting both mints or just one? Is there any trick to figuring out which mint a roll is without opening it? It seems like the only way to have an original roll is to not know what mint it came from!  I have to think that seigniorage was a big factor in creating this serie...and the edge incusing just makes it so hard to collect and display (as in an album) P and D minted coins.  Thoughts? |
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Valued Member
United States
61 Posts |
I don't personally don't really collect them, I keep album for one of each president but thats as far as it goes. There's just too many of them to be worth much down the road. I just buy rolls of them to spend  |
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Valued Member
United States
372 Posts |
I like to get the Direct Shipment of Dollar Rolls. $25.00 in coins are not that heavy. I spend about $50.00 or more every week on gas and 2 rolls are gone. I busted a roll of Dollar coins at Home Depot for a $ 15.00 purchase the other day . The Dollar coins are always nice for tips.
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Valued Member
United States
183 Posts |
They would need $2 and $5 coins as well if they want coins to be able to back out paper...and I agree with other posters that they should be smaller. Also, the direct ship coins typically can be bought by credit card, even rewards credit card or those "0% APR for 1 year" type of things, which basically give you free cash back when buying money for face value or an interest free loan...
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Valued Member
United States
60 Posts |
If my purpose was to collect dollar coins, couldnt I just buy the 250 deal from the mint, keep one roll and cash the others in?
are they mint quality?
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Valued Member
United States
61 Posts |
You technically COULD do that but it goes against the mints intended purpose of the program. The coins offered through the program are meant to be spent not collected. The worst thing you could do is buy a box, keep a roll and deposit them. That just makes the problem worse and the stockpile of dollar coins even larger.
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Valued Member
 United States
284 Posts |
The mint probably doesn't care too much if you hoard a roll but they just don't want you to deposit the opened rolls at the bank. You should spend the rolls. That's my challenge. Could I learn to spend money one dollar coin at a time? I'm so used to using my debit card!
-- Boris
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Valued Member
United States
60 Posts |
yes I see that now, I would do that. I wish I had started this in September, I have used ones like water for grandkids' lunch money. I had to go to bank for a pack of 50 ones just to keep up.
Are thry new quality ?
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Valued Member
United States
61 Posts |
Yup. The coins in the direct ship program are all in uncirculated condition. I personally don't like it as it makes the coins harder to spend . I wish they sold a box of mixed/circulated coins. |
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Valued Member
United States
259 Posts |
I just did the program for the first time and am happy with it. I sold one roll to another CCF member for face and will cash the rest in for cash at the bank. I am happy with it, and will consider it again.
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Pillar of the Community
United States
751 Posts |
They ARE cash. Why not just spend them?
Edited by texasmick
05/22/2011 6:16 pm
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Replies: 39 / Views: 5,111 |
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Posted 05/18/2011 1:47 pm
