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 Replies: 23 / Views: 3,045 |
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Pillar of the Community
United States
1599 Posts |
I have posted this previously on the forum, but, I really did buy my first car with half dollars. I bought a 1957 Chevy in 1968 with 300 1964 Kennedy heads. Thats about $4300 at todays silver value....I believe I would pay that today for that car. Oh yea, my dad had to drive it home because I had never driven a floor shift before.
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Moderator
 United States
16679 Posts |
Money is money.
swcoin.ecrater.com
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Pillar of the Community
United States
1204 Posts |
We have more then 1 member here on the forum who goes though 40 boxes or bags per month ! Ps; they also dump the same every month just to show how easy is to get halves !
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Valued Member
United States
316 Posts |
I have a question pertaining to US laws that maybe someone can answer on here and since it has already discussed that there is no laws saying a company has to accept what ever you want to give them just because its legal tender, I figured this was as good as any to ask. If anyone has a problem with it I ask a moderator to split it out and I will start my own thread in GD area. Anyway first a little background, we have a small store in my town that has their outside wall painted like the Mexican flag and the name is in Spanish. I just call it the old corner store which was the name of the store that was there when I was growing up. I used to work with one of the guys that lives across the street from the store and I would stop and pick him up sometimes on my way to work or bring him home from work every now and then. He would go in this store with peso's and other moneys from Mexico and pay for things. My question is this, is this legal for a store in the US to accept foreign currency as payment for goods? I know when the US was started we used the Spanish coins but always wondered if there is anything on the books forbidding this now. If anyone can give me a law to look up myself that would be fine or just let me know if there is or not. I am definitely not going to get this store in trouble for doing so or anything it just happened to cross my mind again when I re-read this thread about how some think a place has to accept legal tender whether they want to or not
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Pillar of the Community
 United States
1903 Posts |
We live an openly and legal bartering society. For all means and purposes if an individual wishes to accept a bag or rocks in payment for something, that is between you and the person you are transacting the deal with. Pesos, Euros, Yen, whatever it maybe, it simply comes down to if both parties are in agreance. U.S. currency is simply a device backed by the government to settle debts between individuals, corporations, and/or banks. With our economy and government operating the way it is...I am trying more and more to live by the standard of "keep paper money no longer than a day...find a way to convert it to something tangible and with value", when the proverbial excriment hits the fan..paper money will only be good for starting fires  Edited by unholyroller
08/16/2011 12:53 am
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Valued Member
United States
187 Posts |
i say go for it,it could be the chance of a lifetme
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Valued Member
United States
294 Posts |
Quote:
I have a question pertaining to US laws that maybe someone can answer on here and since it has already discussed that there is no laws saying a company has to accept what ever you want to give them just because its legal tender, I figured this was as good as any to ask. If anyone has a problem with it I ask a moderator to split it out and I will start my own thread in GD area. Anyway first a little background, we have a small store in my town that has their outside wall painted like the Mexican flag and the name is in Spanish. I just call it the old corner store which was the name of the store that was there when I was growing up. I used to work with one of the guys that lives across the street from the store and I would stop and pick him up sometimes on my way to work or bring him home from work every now and then. He would go in this store with peso's and other moneys from Mexico and pay for things. My question is this, is this legal for a store in the US to accept foreign currency as payment for goods? I know when the US was started we used the Spanish coins but always wondered if there is anything on the books forbidding this now. If anyone can give me a law to look up myself that would be fine or just let me know if there is or not. I am definitely not going to get this store in trouble for doing so or anything it just happened to cross my mind again when I re-read this thread about how some think a place has to accept legal tender whether they want to or not As I recall (not from memory but from reading) as the US was growing it was common for all sorts of foreign coins to be used as money, in particular Mexican Reales. After the new government began drafting laws establishing a treasury and a monetary system, laws were enacted to declare these foreign coins as not legal tender, in an effort to promote the use of the newly adopted coinage. However, there is no law that says you cannot accept foreign coinage as payment. You would, however, need to calculate the market value of the goods sold verses the current exchange rate for tax purposes, I would think. Again, this would be a choice, but taxes would have be paid in US currency. http://www.usmint.gov/historianscor...century=1700Go to the second page (1800s) and scroll down to 1857 (February 21). The rest of the timeline is also interesting. |
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Bedrock of the Community
United States
20753 Posts |
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Neither of these statements are true, there are no laws that says private dealership/company has to accept any US currency or coins that they don't want to. I have seen plenty of convenient stores that have a sign saying they will accept nothing over a $20 and they do not have to. I have no idea where this myth started but that is exactly what it is, a myth because it has absolutely no backing to it This is completely true. Many, many stores aroumd me have such signs and they do not accept anything over $20. Even one place will not accept over a $10 bill. A restaurant by me also has a sign saying no small sixed dollar coins accepted. Commuter conductors on our trains will tell customers all the time no baby sized dollar coins. As to buying that car with coins of any kind. You may really want to check carefully. You may well end up paying for that joke in the long run. Even if they do accept the coins and don't like it, you'ld better find somewhere far away if your car needs fixing. Do you get a guantee with that car? If so, just how well do you think it will work if you get a dealer ticked off? A small item might not cost you anything due to a guarantee but if you have to bring it back 20 or more times, guess who the joke is on then? And depending on where you live, dealers know each other well and the word spreads. Having a new car that needs the dealer type repairs and making an enemy of them is not smart. |
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Replies: 23 / Views: 3,045 |
First Page
Posted 08/15/2011 9:27 pm
