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Cents and half cents not legal tender?
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<p>[QUOTE="Conder101, post: 2079232, member: 66"]When the bronze indianheads were introduced the cents were given legal tender status up to 10 cents. Whether that gave the earlier cents limited legal tender status retroactively is up to debate. The half cents were gone by that time, and they didn't receive legal tender status until much later.</p><p><br /></p><p>And no you couldn't just take a bunch of cents to the bank or sometimes the store either. In fact that became a big problem after the FE cents were introduced. They were issued in huge quantities. The shops became loaded down with them and the banks wouldn't take them. But if the shops couldn't deposit them they wouldn't have the money they needed to resupply. And they couldn't use the cents in bulk to pay for their supplies because they were only legal tender to 10 cents! Often they had to sell them to brokers at a discount to get rid of them. Imagine that, having to sell money at less than face value just to get rid of it.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 2079232, member: 66"]When the bronze indianheads were introduced the cents were given legal tender status up to 10 cents. Whether that gave the earlier cents limited legal tender status retroactively is up to debate. The half cents were gone by that time, and they didn't receive legal tender status until much later. And no you couldn't just take a bunch of cents to the bank or sometimes the store either. In fact that became a big problem after the FE cents were introduced. They were issued in huge quantities. The shops became loaded down with them and the banks wouldn't take them. But if the shops couldn't deposit them they wouldn't have the money they needed to resupply. And they couldn't use the cents in bulk to pay for their supplies because they were only legal tender to 10 cents! Often they had to sell them to brokers at a discount to get rid of them. Imagine that, having to sell money at less than face value just to get rid of it.[/QUOTE]
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