What do you do with 298,745 cents?

Discussion in 'US Coins Forum' started by Skyman, Jan 13, 2017.

  1. Skyman

    Skyman Well-Known Member

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  3. Amos 811

    Amos 811 DisMember

  4. green18

    green18 Unknown member Sweet on Commemorative Coins

    It may be legal tender, for all debts public or private, but they did have the right to refuse such a payment. Frankly, if I were at the window, I'd have told him to get a shovel and clean up the mess.......
     
    Dave Waterstraat likes this.
  5. Amos 811

    Amos 811 DisMember

    um, if you attempt to pay a debt with legal tender, and its refused...the debt is hereby considered paid, they are not allowed to hover it, nor collect interest. Little known law :)
     
  6. rickmp

    rickmp Frequently flatulent.

    Link to that law?
     
    Pickin and Grinin likes this.
  7. Noah Finney

    Noah Finney Well-Known Member

    Cash it in at the bank.
     
  8. doug444

    doug444 STAMPS and POSTCARDS too!

    "debt is considered paid, etc., etc." Baloney.

    Business
    2,500 pennies: Is it legal to pay a bill in pennies?

    A man in Vernal, Utah, has been charged with disorderly conduct after attempting to pay a disputed medical bill with 2,500 pennies, police say.

    According to a story that appeared Friday in The Deseret News, Jason West went to Vernal's Basin Clinic to dispute a $25 doctor's bill. If the clinic remained unconvinced, Mr. West came with a Plan B, which involved almost 14 lbs. of pennies.

    Apparently, the argument didn't go his way. According to Vernal police, West asked if the clinic accepted cash, and then dumped the 2,500 pennies on the counter, demanding that they count it. “The pennies were strewn about the counter and the floor,” said the assistant police chief.

    It's likely that the disorderly conduct charge had more to do with the dumping and strewing of the pennies and less to do with the currency itself. But the incident does raise a legitimate question: Are businesses required to take your pennies? A penny is, after all, legal tender. Doesn't that mean they are good everywhere?

    Here's what the law says: The Coinage Act of 1965, specifically Section 31 U.S.C. 5103, states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts."

    All this means is that the US Federal Reserve system must honor all US currency. As the US Treasury points out, there's nothing in the law that says that private businesses have to accept it for all transactions. If a merchant wants to sell her products in exchange for gold bullion, nothing but dimes minted before 1946, Swedish fish, or Monopoly money, that's her right under the law.

    The absence of such a law is how bus lines can legally refuse to accept your dollar bills, gas station clerks can turn their noses up at your $100s, and panhandlers near the Monitor's newsroom can yell at you after you drop a dollar coin in their cup, even though you were just trying to be nice.

    In any case, West faces a fine of up to $140. If he's convicted, he's best advised to write a check.
     
  9. Rushmore

    Rushmore Coin Addict

    I was at a Wells Fargo store this week and they told me they are getting rid of the coin counting machines.
     
  10. Hommer

    Hommer Curator of Semi Precious Coinage

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