Ways to help mint distribute presidential dollars.

Discussion in 'US Coins Forum' started by elaine 1970, Jul 3, 2007.

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  1. GDJMSP

    GDJMSP Numismatist Moderator

    Any place of business at all can refuse to take payment in any form they choose. They can demand payment by check, by credit card o rby Money Order for example. They can and do often refuse cash - in any form. And yes, it is 100% legal. If you think otherwise, sorry, but you are wrong.
     
    GDJMSP, Dec 15, 2008
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  3. Conder101

    Conder101 Numismatist

    As GD said perfectly legal behaviour. And I have said before, here where I live the government won't even accept cash for taxes, check or credit card only.
     
    Conder101, Dec 16, 2008
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  4. elaine 1970

    elaine 1970 material girl

    in this case, the dollar is dead and should be eliminated again. because most of the people still don't like it. even if the government stop printing paper dollar note. they will find way to use the five dollars note. the main reason is the dollar coin still too big and bulky. they have to minimize the size and weight again. like a quarter size.
     
    elaine 1970, Dec 16, 2008
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  5. green18

    green18 Unknown member Sweet on Commemorative Coins

    Then why have Legal tender at all? Let's just chuck the whole system....

    Sorry about the rant.
     
    green18, Dec 16, 2008
    #84 + Quote Reply
  6. Vess1

    Vess1 CT SP VIP Supporter

    Don't appologize. It's a good point.

    I really want to get my hands on some rolls. I'm not going to be happy with the first person that refuses them. Should be an interesting experiment.
     
    Vess1, Dec 16, 2008
    #85 + Quote Reply
  7. green18

    green18 Unknown member Sweet on Commemorative Coins

    Thanks Vess. I thought we as a civilization had advanced past the point of trading chickens for goats and entered the modern world of using specie.....
     
    green18, Dec 16, 2008
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  8. GDJMSP

    GDJMSP Numismatist Moderator

    There is a very good reason for the leagal tender system. Just think for a moment what the world had before the legal tender system existed. And I say world because the USA really isn't old enough. But we did have the issue for a bit in the early days.

    Legal tender is nothing but a descriptive term. It is used to describe what forms of money are acceptable in this country. For example, foriegn coins were legal tender here in the US until 1857. That's 70 years after the Constitution. But it was necessary, there simply was not enough of our own currency to go around so we had to use the currency of other countries. But they did not accept just any currency, they only accepted the currency of a few countries - they declared it legal tender.

    Now if they had not done this, we would have had, and may well still be doing it, a system where this country's coins were worth this much and that country's coins were worth that much. It is the system that was in use since the beginning of coins.

    Now in order to do away with that rediculous and cumbersome system the govt. came up with the legal tender concept. The US dollar and the Spanish colonial Pillar dollars were both worth the same amount (there were others too). Some other coins that had a lesser silver fineness or were of a smaller weight were not legal tender.

    It's the same thing now, only now we only accept our own currency as legal tender in this country. That's really all legal tender means - that we don't accept the currency of other nations.

    You ever see a sign at a 7-11 saying No Bills Over $20. Well it's the same thing - they can refuse to accept any bill larger than a $20. And you don't blink an eye or get mad, none of us do - you just accept it. Or an apartment complex - just try paying your rent in cash, they won't accept it. And we accept that too.

    Of course both of these instances have good reasons for not accepting large bills or cash - because they don't want to get robbed. Well, other business have their own reasons. Handling cash cost them money, somebody has to take it to the bank, they could be robbed if cash were on the premises.

    For all of these reasons and many more, any business has the right to say what they will or will not accpet as payment. Legal tender has nothing to do with it. But most people mistakenly believe it does.
     
    GDJMSP, Dec 16, 2008
    #87 + Quote Reply
  9. green18

    green18 Unknown member Sweet on Commemorative Coins

    Doug, I think the problem with not accepting the $50 is because these guys are afraid of counterfeit....

    But I do get where you're coming from. Point well taken....
     
    green18, Dec 16, 2008
    #88 + Quote Reply
  10. Conder101

    Conder101 Numismatist

    Legal Tender does have one other important feature. It represents a legally acceptable attempt to satisfy an obligation. This means that say you owe a debt to someone and there are penalties for late payment and you make an attempt to pay on time with legal tender, say cash, and it is refused. You still owe the debt but since you made a legal attempt to satisfy it they may not tack on interest or penalties for late payment. If you had attempted to pay with a check or credit card which are NOT legal tender and it was declined (only cash accepted) then they CAN apply interest and penalties for late payment.
     
    Conder101, Dec 17, 2008
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  11. mrbrklyn

    mrbrklyn New Member

    mrbrklyn, Dec 19, 2008
    #90 + Quote Reply
  12. elaine 1970

    elaine 1970 material girl

    now i can memorize american presidents from the first one to the ninth accordingly. thanks to presidential dollar series. hopefully i can memorize their spouses too.
     
    elaine 1970, Jan 25, 2009
    #91 + Quote Reply
  13. elaine 1970

    elaine 1970 material girl

    i am still waiting the 2008 van buren dollar to be offer directly at cost from the u.s. mint. what happen to it?. now the harrison dollar is almost come out.
     
    elaine 1970, Feb 4, 2009
    #92 + Quote Reply
  14. grizz

    grizz numismatist

    Ways to help mint..........................



    ............i just got off the phone with my bank. i asked if they still had any van burens left and she asked me "how many do you want?" i guess i'm fortunate.
     
    grizz, Feb 4, 2009
    #93 + Quote Reply
  15. elaine 1970

    elaine 1970 material girl

    if people thought van buren is rare. then they are wrong. the 2009 prez dollars production will be lesser and lesser than 2008.
     
    elaine 1970, Feb 4, 2009
    #94 + Quote Reply
  16. diehlr

    diehlr Junior Member

    Distributing and Promoting Dollar Coin Use

    Easy one....

    Just make all "Stimulus Package" distributions only in dollar coins.

    No more ugly paper - send'em the hard stuff :thumb:

    The banks and Walmart will be absolutely happy to accept them then.
     
    diehlr, Feb 16, 2009
    #95 + Quote Reply
  17. Ruben

    Ruben Member

    I remember collecting presidential tokens with a fill-up of gas (Shell, I think). These coins remind me of them, just as poorly designed (obverse anyway). Stick with the Sac dollar, and stop printing dollar bills. Just my opinion........
     
    Ruben, Feb 16, 2009
    #96 + Quote Reply
  18. smullen

    smullen Coin Hoarder

    Actually, I'd like to see both the Pres Dollar and the SAC (Native American) Dollar go bye bye and bring back a Siver dollar...

    Even if it is clad, it'd still be nicer than the wanna be Gold tone home shopping Club monopoly rejects we're getting now...

    Heh, I sit here and dog on them, but I've bought each set so far... A guilty pleasure I guess... I'd still rather have a silver dollar....
     
    smullen, Feb 16, 2009
    #97 + Quote Reply
  19. elaine 1970

    elaine 1970 material girl

    are you guys still using the prez dollars. it looks like general public still not using them. when you buy somethings. you give ten or twenty dollars. the store seems never use prez dollar to handle back.
     
    elaine 1970, Mar 12, 2009
    #98 + Quote Reply
  20. smullen

    smullen Coin Hoarder

    I use them when I can.... Anytime I go to the bank I try to get a roll or two or whatever I can manage and then spend them as I would regular cash...

    We give our daughter allowance on a commision system.. :)

    She gets 3 bucks a chore...

    She keeps a running tally of how many chores she does in a week.. We tally it up at the end of the week tell her the total and 2 or every 3 dollars go in her savings account and 1 of those 3 dollars I give her in Presidential dollars, providing I have them... Rest assured, she is spending them as fast as she can get them...

    I also spend them on the way to work or home on Soda or whatever...
     
    smullen, Mar 12, 2009
    #99 + Quote Reply
  21. smullen

    smullen Coin Hoarder

    I kinda wish there was a 5 10 and 20 dollar coin,

    **Edit** that was current and spendable....
     
    smullen, Mar 12, 2009
    #100 + Quote Reply
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