Coins lost as no value.

Discussion in 'Coin Chat' started by saltysam-1, Jul 13, 2016.

  1. saltysam-1

    saltysam-1 Junior Member

    I went to a coffee shop this morning and tried to pay with a one dollar coin and paper currency for my purchase. Six employee's, including a manager of the day, would not accept the dollar coin as payment. Several never had seen this currency before and the others didn't want to take the chance. What a sad situation this exposes us too when our own commerce turns down our own countries currency. What is going on with our government and our business's? Do they communicate?
     
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  3. Ericred

    Ericred Active Member

    I dont think we've see anything yet, a man tried to pay his mortgage with cash; 1750 dollars; the bank refused, this is a bad example, but I've had people at gas stations give me change with 2 dollars for 2 quarters.
     
  4. kanga

    kanga 65 Year Collector Supporter

    Dollar coins are not going to circulate (or even be recognized or wanted) until the dollar bill is removed from circulation.
     
    *wolf7*, Kentucky, Endeavor and 3 others like this.
  5. wcoins

    wcoins GEM-ber

    I wonder how many retailers / businesses actually train employees regarding what coins and what bills to accept as forms of payment.
     
    *wolf7* and saltysam-1 like this.
  6. Mad Stax

    Mad Stax Well-Known Member

    Good point, I worked as a cashier at two nationally recognized corporations awhile back and never received any info regarding that
     
  7. Treashunt

    Treashunt The Other Frank

    I was at a 7-11 and the clerk didn't want the bill that the customer had.

    I took it for him, it was a silver certificate.
     
  8. medoraman

    medoraman Supporter! Supporter

    While clerks do not need to accept currency for a purchase, a bank refusing currency for a mortgage is technically a crime. All currency is legal tender for any debt. A bank refusing currency for that debt runs the risk of a court rendering that debt null. At a minimum, any court would say that the borrower attempted to make a legal payment on the debt, and since the bank refused, the bank is unable to charge any penalty or interest on the "missed" payment.
     
    Brett_in_Sacto likes this.
  9. 19Lyds

    19Lyds Member of the United States of Confusion

    Correcto Mundo!

    Is it a "sad situation"? Not in my opinion. When running a business it's up to the proprietor as to what "risk" level s/he is will for their employee's to accept with forms of payment.

    Do they accept checks? From Homeless people?

    Would they accept a $100 for a $5 cup of joe?

    If folks want this situation to change, then monetary matters need to move back into the education programs such as what existed when I was a kid in addition to ending this foolishness with having dollar coins and dollar bills.
     
  10. 19Lyds

    19Lyds Member of the United States of Confusion

    Can you post a link to this "story"? Hopefully it would provide some "details" which, again hopefully, didn't amount to $1750 in cents.
     
  11. Hommer

    Hommer Curator of Semi Precious Coinage

    I was trying to help a very nice young lady, that had 2 kids with her, while she was doing homework online for what I thought was a nursing class. She was doing math and I was playing with her kids, one, because it was fun, and two, to get them out of her hair so she could concentrate. Anyway, every once in awhile she would look up and ask about a fraction problem
    It quickly became evident that not only was she never taught about fractions, but nothing about measurements, or money to boot.
    I asked her how she could ever become a nurse and not know simple math and her response was that she was going to change her major to teaching. I laughed so hard I think I embarrassed her.
     
    *wolf7* likes this.
  12. Blissskr

    Blissskr Well-Known Member

    I recently spent two rolls ($50) of Kennedy dollars without issue at a few different stores.
     
  13. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Exactly! I think businesses should also take the time to teach their employees how to show up for work on time and how to correctly roll a joint.

    Chris
     
  14. GDJMSP

    GDJMSP Numismatist Moderator

    I completely agree that the law says all currency is legal tender for a debt. But any business has the right to refuse cash as payment any time they like.
     
  15. -jeffB

    -jeffB Greshams LEO Supporter

    I had to go back and read this three times before I saw it as "Kennedy dollars" rather than "Kennedy halves". "Hmm, I've occasionally seen $20 rolls of halves, but never $25..."

    In my defense, bedtime and the morning alarm were very close neighbors last night.
     
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  16. Smojo

    Smojo dreamliner

    I've not ran into such issues. Usually when a use a $1 coin the clerk will put it off to the side. I assume they or somebody they know collects them.
     
  17. cooper

    cooper Active Member

    About the only place I've seen dollar coins in use are at the casinos. I live in a small town in TN and I don't guess the banks here (we have two) would even have a roll of dollar coins. If they do, it would only be one or two. All the coin operated machines around here take dollar bills.
     
  18. Markus1959

    Markus1959 Well-Known Member

    I had 3 Canadian Loon Dollars my bank wouldn't except - maybe I have to go else where to cash a few Canadian coins although my bank had no problems with Canadian cents, nickles, dimes, or quarters. I told the girl teller these were Canadian dollar coins and she looked at me like I was an alien!
     
    carpman98 likes this.
  19. John77

    John77 Well-Known Member

    It's legal tender. What is their problem?
     
    *wolf7* likes this.
  20. John77

    John77 Well-Known Member

    What about a bank who refuses to give you cash on the spot for the coins, and which says they will need to ship them out for counting, and that it "will take 7-10 days for us to credit your account?"
     
  21. medoraman

    medoraman Supporter! Supporter

    I would say its shady if they didn't tell you that up front. If they had no sign saying that, I would demand my change back if it bothered you.

    All of the banks I deal with have change counters right in the bank, so I have never experienced this.
     
    John77 likes this.
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