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 Replies: 28 / Views: 2,165 |
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Moderator
 United States
188440 Posts |
Quote:
I though it was illegal not to except any legal tender in commerce. As I stated above, as long as the place of purchase is clear as to what they will or will not accept from customers before the transaction occurs, they can include and exclude anything they want. Here is a thread where the ramifications of "legal tender" were discussed. Edited by jbuck
02/10/2009 5:43 pm
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Bedrock of the Community
United States
20753 Posts |
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Interesting.
Was wondering how a store could refuse to accept legal tender without frustrating customers. The answer: always round DOWN to the nearest nickel.
Sure wish that would happen around me. From what an attorney I know told me that no store that deals with the public, uses US Currecy can legally turn down any legal tender monitary item. If someone around here did I think I'd really have some fun and make some money in a law suit. |
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Valued Member
United States
290 Posts |
a lawsuit? what are the damages, they charged me less and rounded down?
the problem comes when some wiseguy tries to pay his bill just in pennies!! hahaha
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Pillar of the Community
United States
2734 Posts |
A store can post a sign (or show a written policy) that they do not take a particular denomination of currency. My local pizza take-out has a sign posted that they do not take $100 bills. The legal concept of "invitation to treat" provides for retailers to be able to reject denominations that would be a burden upon them to accept.
Just the same, though, it is the 'general rule' that if a store accepts cash, that they accept all denominations of U.S. coins and currency unless a particular denomination is specifically stated in advance as 'not accepted'. That's why the pizza place posted the 'no $100's' sign (and why convenience stores post 'no bills larger than $20' signs), to prevent them from being forced to take a $100 bill or worse losing the right to collect payment because they refused a 'valid legal tender' payment.
There is nothing to stop a store from posting a sign saying "We do not accept one-cent coins. All purchases are rounded to 5¢ amounts."
Edited by DNA
02/10/2009 11:47 pm
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Valued Member
United States
295 Posts |
Imagine what kind of Jerry Springer show would develop if NoHope and the rest of us started using old crummy Two Cent coins! I am neither for or against this idea but I am intrigued by the thought of it. If the cent did actually get terminated, I would not be griping. I would like to see Abraham on a new coin that gets circulated that is truly classy and has presence in hand. |
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Valued Member
United States
188 Posts |
In the initial post by Hollywood, what was the comment about shell casings about?
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Pillar of the Community
United States
2734 Posts |
If the one-cent coin goes, I think a new two-cent coin would be the best replacement. This way, the rounding would only have to go up/down 1¢, and existing one-cent coins would still be fairly useful (without having to have five of them).
Similarly, the one-dollar bill should be replaced with $2 notes and $1 coins.
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Pillar of the Community
United States
3077 Posts |
i say kill the $5 dollar bill and the $2 and make a $5 coin w/ abe on that
jefferson is already on the nickel
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Pillar of the Community
United States
3098 Posts |
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In the initial post by Hollywood, what was the comment about shell casings about? Maybe it was about people substituting 1c coins with shell casings? I think any casing over a .22 has more than 1c in metal value! |
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Moderator
United States
16679 Posts |
The U.S. Government has deemed the one cent coin as legal tender in all transactions in the United States of America. I don't think he can do this without violating something. What that is is the question.
swcoin.ecrater.com
Edited by vermontensium
02/12/2009 10:05 pm
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Pillar of the Community
 United States
1228 Posts |
I don't know if it's the law that you have to take legal tender or not. But I can tell you this much I will just start my own Revolution. Starting today I will not buy any thing from the Concord Teacakes Bakery in West Concord Massachusetts. In fact just to get the point across I want buy any thing from any one in West Concord Mass. Who wants to join my Revolution? Revolution; Long live the Revolution; Free the Cent Lont live the Revolution. We will just see how this Judy Fersh like the Revolution. http://www.coinnews.net/2009/02/12/...-cents-4719/ |
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Pillar of the Community
United Kingdom
1077 Posts |
With the whole Lincoln anniversary year and all the hoo-ha about the cent this year it strikes me as a good year to have as the last one for such a worthless coin. Stick Lincolns mug on a different denomination to pacify the Lincolnites and be done with it. It makes a lot of sense (cents) given the value of a dollar to introduce a $5 coin as suggested above and put Lincoln on it. (Seriously, in real terms how large a denomination coin would a Morgan dollar be in todays money). That way he would be on a five dollar coin and bill. In fact why not ditch the five dollar bill as well. Oh wait, you're having enough problems getting rid of the $1 bill so I guess that ain't gonna happen. Paper company lobbyists or some such nonsense. Amazing how big business can control the US government. Sounds like the tail wagging the dog. |
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Rest in Peace
United States
9104 Posts |
A century and a half ago, when they stopped making Half Cents, they had the purchasing power of a nickel. Dropping the cent and nickel would be today's equivalent. |
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Replies: 28 / Views: 2,165 |
First Page
Posted 02/10/2009 8:35 pm
