Legal tender??

I have some questions I was hoping you guys could answer for me. In
reading thru the posts here I came across a situation where a guy was
trying to pay at a fast food store with Sac dollar coins and the
cashier said "I don't think we take those here". Are they legally
obligated to take them? Or can a store just make up policies against
certain denominations?
Also a couple of days ago I had out some late 1880's Morgan dollars
showing my kids and one of them asked "Could I take that to a store
and use it?". I said yes but then got thinking would the store have to
take it? Is any money made by a US Mint legal tender as long as
everything on it is legible?
Any thoughts or answeres to these questions would be appreciated.
Thanks, Danny

"Danny" wrote in message
m...
I have some questions I was hoping you guys could answer for me. In
reading thru the posts here I came across a situation where a guy was
trying to pay at a fast food store with Sac dollar coins and the
cashier said "I don't think we take those here". Are they legally
obligated to take them? Or can a store just make up policies against
certain denominations?
Also a couple of days ago I had out some late 1880's Morgan dollars
showing my kids and one of them asked "Could I take that to a store
and use it?". I said yes but then got thinking would the store have to
take it? Is any money made by a US Mint legal tender as long as
everything on it is legible?
Any thoughts or answeres to these questions would be appreciated.
Thanks, Danny

Legally they have to take any US coin which is still legal tender. This
includes silver dollars or large cents if you are so inclined to want to
spend them. Notably however this does not include the old US gold coins
which were never made legal tender, even when they circulated. With the
exception of the gold coins, all other authorised US coins are legal tender.

I have had an occasion once in Texas where a merchant refused to take a
dollar coin(SBA) in payment. If I was so inclined and wanted to pay some
attorney I could have forced the merchant to take it in payment. But the
merchant lost my business.

Curiously one of the places which takes the Sackie bucks grudgingly is my
local post office, which of course is the source for them. Seems like they
like dolling them out but don't want them back. Clerks grumble a bit if
they come over the counter. 50¢ pieces and $2 bills cause the opposite
commotion, they want those.

Dave


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In the UK a shop "offers to sell" items/services to the public but they
can refuse a transaction for any reason, not of course if it racial
prejudice etc, I think this is to cover traders for pricing error and
price label switchers. Billy


Scottishmoney wrote:

"Danny" wrote in message
m...
I have some questions I was hoping you guys could answer for me. In
reading thru the posts here I came across a situation where a guy was
trying to pay at a fast food store with Sac dollar coins and the
cashier said "I don't think we take those here". Are they legally
obligated to take them? Or can a store just make up policies against
certain denominations?
Also a couple of days ago I had out some late 1880's Morgan dollars
showing my kids and one of them asked "Could I take that to a store
and use it?". I said yes but then got thinking would the store have to
take it? Is any money made by a US Mint legal tender as long as
everything on it is legible?
Any thoughts or answeres to these questions would be appreciated.
Thanks, Danny

Legally they have to take any US coin which is still legal tender. This
includes silver dollars or large cents if you are so inclined to want to
spend them. Notably however this does not include the old US gold coins
which were never made legal tender, even when they circulated. With the
exception of the gold coins, all other authorised US coins are legal tender.

I have had an occasion once in Texas where a merchant refused to take a
dollar coin(SBA) in payment. If I was so inclined and wanted to pay some
attorney I could have forced the merchant to take it in payment. But the
merchant lost my business.

Curiously one of the places which takes the Sackie bucks grudgingly is my
local post office, which of course is the source for them. Seems like they
like dolling them out but don't want them back. Clerks grumble a bit if
they come over the counter. 50¢ pieces and $2 bills cause the opposite
commotion, they want those.

Dave

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"Scottishmoney" wrote in message
...

"Danny" wrote in message
m...
I have some questions I was hoping you guys could answer for me. In
reading thru the posts here I came across a situation where a guy was
trying to pay at a fast food store with Sac dollar coins and the
cashier said "I don't think we take those here". Are they legally
obligated to take them? Or can a store just make up policies against
certain denominations?
Also a couple of days ago I had out some late 1880's Morgan dollars
showing my kids and one of them asked "Could I take that to a store
and use it?". I said yes but then got thinking would the store have to
take it? Is any money made by a US Mint legal tender as long as
everything on it is legible?
Any thoughts or answeres to these questions would be appreciated.
Thanks, Danny

Legally they have to take any US coin which is still legal tender. This
includes silver dollars or large cents if you are so inclined to want to
spend them. Notably however this does not include the old US gold coins
which were never made legal tender, even when they circulated. With the
exception of the gold coins, all other authorised US coins are legal
tender.

Nonsense. From the Bureau of Engraving and Printing web site.

http://www.moneyfactory.com/document.cfm/18/110



Legal Tender: A Definition

Section 102 of the Coinage Act of 1965 (Title 31 United States Code, Section
392) provides in part:

" All coins and currencies of the United States, regardless of when coined
or issued, shall be legal tender for all debts, public and private, public
charges, taxes, duties and dues."

This statute means that you have made a valid and legal offer of payment of
your debt when you tender United States currency to your creditor. However,
there is no Federal statute which mandates that private businesses must
accept cash as a form of payment. 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.


I have had an occasion once in Texas where a merchant refused to take a
dollar coin(SBA) in payment. If I was so inclined and wanted to pay some
attorney I could have forced the merchant to take it in payment. But the
merchant lost my business.

Curiously one of the places which takes the Sackie bucks grudgingly is my
local post office, which of course is the source for them. Seems like
they
like dolling them out but don't want them back. Clerks grumble a bit if
they come over the counter. 50¢ pieces and $2 bills cause the opposite
commotion, they want those.

Dave


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Outgoing mail is certified Virus Free.
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All legal tender means is that you've made an offer to pay. The merchant
doesn't have to accept it.

See: http://www.moneyfactory.com/document.cfm/18/110


"Danny" wrote in message
m...
I have some questions I was hoping you guys could answer for me. In
reading thru the posts here I came across a situation where a guy was
trying to pay at a fast food store with Sac dollar coins and the
cashier said "I don't think we take those here". Are they legally
obligated to take them? Or can a store just make up policies against
certain denominations?
Also a couple of days ago I had out some late 1880's Morgan dollars
showing my kids and one of them asked "Could I take that to a store
and use it?". I said yes but then got thinking would the store have to
take it? Is any money made by a US Mint legal tender as long as
everything on it is legible?
Any thoughts or answeres to these questions would be appreciated.
Thanks, Danny

(Danny) wrote in
m:

In
reading thru the posts here I came across a situation where a guy was
trying to pay at a fast food store with Sac dollar coins and the
cashier said "I don't think we take those here". Are they legally
obligated to take them? Or can a store just make up policies against
certain denominations?

They don't have to take any type of money if they don't want to. From what
I have learned by reading in this newsgroup, legal tender only applies to
paying off a debt. Buying something at a fast food place does not fall
into that catagory. Like some places wont accept bills over $20 etc.

However in this case, I believe that the cashier was young, dumb, stupid
and did not take it because that person may have never seen one before nor
never had it offered at the store before or simply did not want to get in
trouble from the manager because he or she was not sure if they could take
them or not.


Barney

"Dr. Richard L. Hall" wrote in message
...
Nonsense. From the Bureau of Engraving and Printing web site.

http://www.moneyfactory.com/document.cfm/18/110



Legal Tender: A Definition

Section 102 of the Coinage Act of 1965 (Title 31 United States Code,
Section
392) provides in part:

" All coins and currencies of the United States, regardless of when coined
or issued, shall be legal tender for all debts, public and private, public
charges, taxes, duties and dues."


When the gold coins were issued they were not legal tender. In 1965 when
this act was passed it was not technically legal to own a so called
non-numismatic value gold coin. The federales could have taken
non-numismatic coins until the 1970's when the ban on bullion type gold was
lifted.

Govt acts that counteract one another, something old, nothing new.

By your argument the 1933 $20 piece was always legal to own. For many many
years it was NOT, and now only one is legal to own.

Dave


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"Dr. Richard L. Hall" wrote in message
...
All legal tender means is that you've made an offer to pay. The merchant
doesn't have to accept it.

And then you can tell the merchant "You've lost all my future business.
Bye."

Harv

In article ,
"Dr. Richard L. Hall" writes:
| All legal tender means is that you've made an offer to pay. The merchant
| doesn't have to accept it.
|
| See: http://www.moneyfactory.com/document.cfm/18/110
|
|
| "Danny" wrote in message
| m...
| I have some questions I was hoping you guys could answer for me. In
| reading thru the posts here I came across a situation where a guy was
| trying to pay at a fast food store with Sac dollar coins and the
| cashier said "I don't think we take those here". Are they legally
| obligated to take them? Or can a store just make up policies against
| certain denominations?
| Also a couple of days ago I had out some late 1880's Morgan dollars
| showing my kids and one of them asked "Could I take that to a store
| and use it?". I said yes but then got thinking would the store have to
| take it? Is any money made by a US Mint legal tender as long as
| everything on it is legible?
| Any thoughts or answeres to these questions would be appreciated.
| Thanks, Danny

It depends on the type of contract. If I want to buy real estate and
present a non-contingent full-price offer in legal tender cash, the
seller is obliged to sell to me. This may not apply in a candy store..

note.boy wrote:

In the UK a shop "offers to sell" items/services to the public but they
can refuse a transaction for any reason, not of course if it racial
prejudice etc, I think this is to cover traders for pricing error and
price label switchers. Billy

Basically the same in Germany. I am not a lawyer but what a store does
by presenting the merchandise is called an "invitatio ad offerendum":
Potential customers are invited to make an offer - the merchant may then
agree, and sell you the product(s) that you are interested in, or not
sell them.

Also, a store here in DE is free to accept or not accept legal tender as
long as the customer is not a debitor: If you want to have a product or
service and pay cash, the merchant may legally refuse to accept the cash
you offer. It gets more difficult in cases where you "consume" first and
pay afterwards, such as gas stations in many European countries, or
restaurants. Which is why many gas stations around here, and also quite
a few other stores, have signs saying We do not accept ¤500 notes ...

Christian