Message:

<p>[QUOTE=&quot;GDJMSP, post: 2596409, member: 112&quot;]I can&#039;t recall off the top of my head when the change in the law occurred, [USER=66]@Conder101[/USER]&nbsp; would know, but in the beginning nothing smaller than a dime was legal tender in the US for many, many years.</p><p><br /></p><p>Now that doesn&#039;t mean people didn&#039;t accept the half cent, cent, two cent, and five cent coins when used to buy things or pay debts. It just means that technically they weren&#039;t legal tender as defined by US law.</p><p><br /></p><p>For the most part legal tender laws in the US are pretty much meaningless to begin with, except in a small number of circumstances. Like when paying the govt. money you owe them. But a private entity, or private individual, no they are not required by law to take any of it.</p><p><br /></p><p>Over the years the US legal tender laws have changed, as I mentioned above. But in today&#039;s world all US coins, regardless of when they were issued, are legal tender. With US bank notes, I&#039;m not sure what the date is or qualifications are, but I know there are some for stuff like silver certificates, gold certificates, but I think all the rest are legal tender too.</p><p><br /></p><p>As for your question Doug - what good were they ? - well, like I said people took them, you could spend them. People did spend them every single day. They just weren&#039;t required to do so, and still aren&#039;t, to take them if they don&#039;t want to.</p><p><br /></p><p>And no, even your creditors don&#039;t have to accept coins or cash if they don&#039;t want to - even though it is legal tender. They don&#039;t have to accept anything by law, they can demand payment in whatever form they desire.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in