Is this going to burn me?

[uuacallis]

So I recently got interested in CRH and will likely want to go to my local wells fargo and ask them to order me a box of half dollars.

While I am hopeful to find some gems, if I don't thats ok too because I plan to spend them. You see, I have an auto loan through another bank that irritates me to no end that I cannot pay online without paying a fee, so I end up dropping off a check once a month to ensure that I get a receipt that it is paid.

So I have a plan to order my halves from my preferred bank (wells fargo) and then pay my car payment with the skunky ones over at a non-preferred bank.

Two concerns
1 - Can they refuse to accept change as a form of payment or to charge me a surcharge on that? I know paper currency says all debts private and public, but it doesn't say that on change.

2 - They are both a mile apart and that they likely get their coins from the same place, so what are the chances I will get the coins right back the next month when I order them again? Or do you think that the non-preferred bank will just hold them for a while and once we get to month 2 or 3 of me using coins to pay my payment they will realize that they should likely send them to the central bank?

 

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[drcaulfield]

Brilliant and they have to take your coins as payment

 

[mtk76]

When you say they have to that is all well and good but if they have been annoying enough for him to want to do that I predict they won't.

 

[OtlFrutiger]

You could just mark your coins somehow with a sharpie to find out if they are coming back to you. The banks may have different suppliers.

 

[Diver_Down]

For payment on a debt, you can use coin. I've been paying my mortgage with my dumps since my first payment. In fact, I just refinanced and paid the closing costs with beach clad. Rotten zincolns, sand encrusted clad, etc.

 

[Delpirt]

If they say they won't take them threaten to call the Sheriff. If they still say no, actually call the Sheriff. They can ask you to roll them however.

On a side note, years ago I read a story about a guy who was tired of the power company not being able to explain all the fees on his bill so he sent them his payments in many multiple checks for odd amounts under a dollar. (0.51, 0.37, 0.62 etc.) I was dying of laughter.

 

[Weaselbrott]

1- No, they must take it, even loose pennies.
2-Unknown variable as to where the coins resurface.

 

[Chug And Red]

I say Keep it Up!!! If they Say Sorry we Cant Accept this Payment, Say to them This Is all I Have Are You Refusing Payment And See What Happens!

 

[OldNBroken]

Years ago I had a disputed bill from MCI (see, years ago) for $47and change. Finally said screw it and went around to a few banks and bought pennies. One bank gave me a coin bag when I told them what I was doing. My kids and I opened every roll and dumped the exact amount in the bag. Put the bag in the box with the bill laying on top. Sealed the box with an entire roll of duct tape and shipped it to MCI. It cost me something like $23 to mail that payment in but I never heard from them again. To me it was worth every penny of shipping. The kids thought it was hilarious.

 

[uuacallis]

Thanks all,
I am actually happy to roll them back up (assuming I can even get .50 rolls), I just don't want to screw over my preferred bank who is generously ordering these for me.

 

[ArkieBassMan]

Brilliant and they have to take your coins as payment

No, they are under no legal obligation to take your coin as payment. They can absolutely refuse and/or charge you a fee. For anyone that disagrees, google some of the stories about people attempting to pay bills with pennies. Then google what the law actually is concerning this type of matter. However, I do predict that they will accept them as payment...for awhile at least.

As for getting them back, I wouldn't worry about it. One to two boxes a week shouldn't "contaminate" your supply enough to matter.

 

[twiasp]

IF you want to be more annoying you may try paying with only 300 dollars in halves. Some banks have to have a 500 dollar bag before they can send them off, just a possible thought.

I kept receiving spam letters from a local cable company to buy more of their crap. So i went down to the grocery store and grabbed some handfuls of coupons out of the bins and stuffed their return envelope with them and stuck in the mail. About the 3rd time i did it they called and asked me why i am sending them coupons and asked me to please stop because they have to pay postage. I asked them to stop mailing me letters they said they are sorry it is automatic, i said well since you are apparently hard up for money i will keep sending you coupons to help you meet your fiscal goals. The next one i received i stuffed it full of coupons and a dollars worth of pennies. They called me again and demanded i stop, i told them not til they do. I never received another spam letter from them still to this day, they also mailed me back a check for the 1 dollar in pennies =)

 

[FloridaFinder]

I kept receiving spam letters from a local cable company to buy more of their crap. So i went down to the grocery store and grabbed some handfuls of coupons out of the bins and stuffed their return envelope with them and stuck in the mail. About the 3rd time i did it they called and asked me why i am sending them coupons and asked me to please stop because they have to pay postage. I asked them to stop mailing me letters they said they are sorry it is automatic, i said well since you are apparently hard up for money i will keep sending you coupons to help you meet your fiscal goals. The next one i received i stuffed it full of coupons and a dollars worth of pennies. They called me again and demanded i stop, i told them not til they do. I never received another spam letter from them still to this day, they also mailed me back a check for the 1 dollar in pennies =)

That's hilarious!!!

 

[gmrestoparts]

Wells Fargo told me they could get me Kennedys...so I opened an account and 3 weeks later was told they could not order them. I have since closed the account

 

[Chug And Red]

I Have 2,000 in past due traffic tickets that I Have to pay 100.00 per month Court order If you can Supply me You Cast offs eack month It would Be A Blast to Pay them In Halfs Chug I Dont have time To RUN TO BANK TO GET THEM BUT i WOULD NOT TRY PENNIES OR NICKLES MAYBE DIMES THOUGH!!! Chug

 

[maverick]

I've been paying my mortgage with my dumps since my first payment.

Yup, you know I do the same too. Every month I walk into one of my dump banks with 3 boxes of halves and my mortage slip in my hand to pay it. HH, Maverick.

 

[Delpirt]

No, they are under no legal obligation to take your coin as payment. They can absolutely refuse and/or charge you a fee. For anyone that disagrees, google some of the stories about people attempting to pay bills with pennies. Then google what the law actually is concerning this type of matter. However, I do predict that they will accept them as payment...for awhile at least.

As for getting them back, I wouldn't worry about it. One to two boxes a week shouldn't "contaminate" your supply enough to matter.

Wow. Arkie is totally correct. I had no idea. I always thought they had to accept it. Good to know.

 

[tlowery04]

talked to an electrician at a job site awhile back who had a similar problem, his bills came in prepaid envelopes. after paying off his car loan they kept mailing him an invoice for the last 2 or 3 hundred dollar payment he made. He called and faxed over a copy of his release, copy of his clear title etc, but every month, that same bill would come. finalyl he started mailing a copy of his release in with the prepaid envelope hoping they would ge3t the message, that the last payment had been made on the date on the receipt. after about 5 months and a few phone calsl from the bank, he decided to make them take notice. He took a small box and put 4 paver bricks in it then taped the return postage paid envelope to the box. never heard from them again. not even about the bricks.

 

[sagittarius98]

Two concerns
1 - Can they refuse to accept change as a form of payment or to charge me a surcharge on that? I know paper currency says all debts private and public, but it doesn't say that on change.

Although coins are legal tender, they can be refused in a private business. It is similar to a gas station saying "no $100 bills." They have the right to refuse coin, since private businesses decide how they want their payments.

2 - They are both a mile apart and that they likely get their coins from the same place, so what are the chances I will get the coins right back the next month when I order them again? Or do you think that the non-preferred bank will just hold them for a while and once we get to month 2 or 3 of me using coins to pay my payment they will realize that they should likely send them to the central bank?

You may get your coins back. Many people may get their coins back. Most banks need $500 or a $1000 worth in order to send out. It would not go to the central bank/Fed, but to the central rolling building of the armored car company that picks them up (Brinks, Loomis, Garda, etc.). Because of this, whether you will get your coins back depends on the armored car company. A bank signs a contract with a company. Therefore, one bank can be Loomis, and then a nearby bank may be Brinks. Even if the banks use different companies, people may pick up your halves and then dump them into the supply you take from, so you will get your coins back someday I'm sure. Even with cents, I have found some that I know I dumped before, and that is a circulating denomination, unlike halves, where only CRHers have them.

 

[jambone]

Sag is right - coins are legal tender just as much as bills are, but businesses don't have to accept them.

Here's a good article for more info: snopes.com: Debt Payment in Pennies