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Had a business refuse coin payment today.
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<p>[QUOTE="Tinpot, post: 1709018, member: 35836"]<span style="color: #2A2A2A"><font face="Arial"><a href="http://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx" rel="nofollow">http://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx</a></font></span></p><p><span style="color: #2A2A2A"><font face="Arial"><br /></font></span></p><p><span style="color: #2A2A2A"><font face="Arial">The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which 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."</font></span></p><p><span style="color: #2A2A2A"><font face="Arial"><br /></font></span></p><p><span style="color: #2A2A2A"><font face="Arial">This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor.</font></span></p><p><span style="color: #2A2A2A"><font face="Arial"><br /></font></span></p><p><span style="color: #2A2A2A"><font face="Arial">Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything This has been the case since 1933. </font></span><b>The notes have no value for themselves</b><span style="color: #2A2A2A"><font face="Arial">, but for what they will buy. </font></span><span style="color: #2A2A2A"><font face="Arial"></font></span></p><p><span style="color: #2A2A2A"><font face="Arial"><br /></font></span></p><p><span style="color: #2A2A2A"><font face="Arial"><br /></font></span></p><p><span style="color: #2A2A2A"><font face="Arial"></font></span>[/QUOTE]</p><p><br /></p>
[QUOTE="Tinpot, post: 1709018, member: 35836"][COLOR=#2A2A2A][FONT=Arial][URL]http://www.treasury.gov/resource-center/faqs/currency/pages/legal-tender.aspx[/URL] The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which 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."[/FONT][/COLOR] [COLOR=#2A2A2A][FONT=Arial] This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor.[/FONT][/COLOR] [COLOR=#2A2A2A][FONT=Arial] Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything This has been the case since 1933. [/FONT][/COLOR][B]The notes have no value for themselves[/B][COLOR=#2A2A2A][FONT=Arial], but for what they will buy. [/FONT][/COLOR][COLOR=#2A2A2A][FONT=Arial] [/FONT][/COLOR][/QUOTE]
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