We will no longer accept 25c .... interesting take on the Coinage Act of 1965

ScarsdaleCoin

I read the other day that a crafts store Michaels refused to accept from a kid $4 in quarters for a payment of an item (it was a gift for his mom I believe)

Interesting enough.... and while I would say that it is pretty poor customer service on their part, it is quite legal...

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.

LanLord

That's weird, most stores are happy to get quarters in the till.

lordmarcovan

Must've been a psycho at the checkout counter at Michaels that day.

sumdunce

Is 16 quarters really worth the bad press the store will recieve on this?

I would say it is a brain fart on the part of the cashier.



S

19Lyds

<< <i>Must've been a psycho at the checkout counter at Michaels that day. >>



Ditto!

Some folks simply have absolutely no business dealing with the general public!

ambro51

Imagine if you tried to give that clerk six suzys, three ikes, two prez dollars, one kennedy half and four pennies to pay the tab.


Probably have to call for the 19 year old store manager...to sort things out.

messydesk

<< <i>I would say it is a brain fart on the part of the cashier. >>


That would imply the presence of a brain. The reason was probably that the cashier can't count that high and had no hope of figuring out how much money 16 quarters was. So do you:
1) Pull out a credit card for a $4 purchase and gig the store for the fees.
2) Leave without making a purchase
3) Ask for a supervisor so that the cashier can borrow six more fingers to help complete the transaction.

Trebor

<< <i>Must've been a psycho at the checkout counter at Michaels that day. >>



or the clerk could only count to $2.50?

lathmach

Wow, I might get the shaft when I take in a couple thousand pennys to the grocery store to buy something.
I always try to do it when they're real busy.

Ray

adamlaneus

Recently, a cashier snapped at me as I was stacking coins for a payment.

"Are those quarters?", I was asked in an impatient and challenging tone.

"No, they are golden dollars."

Instant attitude adjustment. Face turns from a frown to inquisitiveness.

"Oh really? Wow! Cool. Those are neat! Who is that! That's a pretty coin." etc etc.

Hotfootspin

Link from The Consumerist

Thanks,
Mark

Coinhog

Ebay is banking on this federal law. They will only accept paypal as a form of payment

zeebob

The kid is better off with $4 in his pocket than anything from that overprice rat-hole that call's itself Michaels. bhah.

tmcsr69

<< <i>The kid is better off with $4 in his pocket than anything from that overprice rat-hole that call's itself Michaels. bhah. >>



I agree. I have one of their stores close to my home and on occasion shop there because of convenience and need. This story comes as no surprise and I have seen many examples of mismanagment and poor judgement there by the employees.