Doing away with dollar coins

While those laws do truly exist they aren't enforced. I remember as a child many a store refusing $2 bills. I also remembered why my dad said people wouldn't carry them, but I can't even say it on here. Even in recent years I've been to several places that REFUSE coinage. I had a few dollars in coins I tried to use at a gas station and it was refused because they said they had a rule against having to count out lots of coins. My credit union refuses to accept ANY coins unless they are rolled in paper rolls with your name and checking account# written on the side.

If it's not posted, they have to accept it. That is the law. If the sale has been completed, they must accept your legal tender regardless. They don't have to accept higher than say $20 bills for gas stations or places like that simply as policy.

In 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."

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. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

BUT... IF they accept pennies, dollar coins, $2 bills, or whatever on a normal basis, they CAN NOT pick and choose when to or when not to accept them. If they accept a handful of pennies they must accept a 675 pennies. If they refuse to take an oddity like a dollar coin or $2 bill, they must have it posted as such before credit/debt is made.
 
If it's not posted, they have to accept it. That is the law. If the sale has been completed, they must accept your legal tender regardless. They don't have to accept higher than say $20 bills for gas stations or places like that simply as policy.

In 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."

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. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

BUT... IF they accept pennies, dollar coins, $2 bills, or whatever on a normal basis, they CAN NOT pick and choose when to or when not to accept them. If they accept a handful of pennies they must accept a 675 pennies. If they refuse to take an oddity like a dollar coin or $2 bill, they must have it posted as such before credit/debt is made.

I had about $4-5 worth of pennies, nickels and dimes, maybe a couple quarters too. I think it comes down to young person couldn't be bothered to do their job and take the time to count coins. Many folks actually cannot count change. I even offered to count it out for them and line it up in rolls of $1 increments. NO!!! This was a college town... I quickly learned using cash was the quickest way to get people to hate you whether it was the cashier or the guy in line behind you.
 
... If they refuse to take an oddity like a dollar coin or $2 bill, they must have it posted as such before credit/debt is made.

Law is a fine thing, but if the law says they have to take your 2-dollar coin and they refuse to take it anyway, what can you do?

Call the cops for immediate enforcement of the law? I doubt they would help you.

Call your lawyer and file a suit? That won't help the immediate situation, and it will cost you a lot more than two bucks to do that.

So sometimes, even if the law is on your side, it's not worth the trouble to get your way.
 
May not help you immediately, but the proper authorities who deal in this may at least make a simple house call to those less knowledagble about the treasury laws, which may resolve any future issues before they arise.
 
May not help you immediately, but the proper authorities who deal in this may at least make a simple house call to those less knowledagble about the treasury laws, which may resolve any future issues before they arise.

Does that mean I can report my bank? I hate having to roll my coins! :laughing:
 
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