Take my coins, please! ... Buncha commies.

[fistfulladirt]

I thought there was a law that they HAD to take American currency. Anything damaged is supposed to be delivered to the US mint? They decide if the currency should be destroyed.

No, and yes.

 

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[lookindown]

My bank takes my coins that look like yours in the pictures. I just wash them off and have never tumbled any. They are black and discolored but no corrosion...I throw the corroded ones away. Been taking them there twice a year for four years and they have never said a word about my discolored coins.

 

[Dave44]

Are we talking about bent or clipped coins? Lucky there is no bullion value to coins in that case!
Yes and no is such a political answer it is useless to any discussion?


"Bent and partial coin is coin that has been bent or twisted out of shape, punched, clipped, plugged, fused, or defaced, but that can be identified as to genuineness and denomination. Bent and partial coin is not redeemable at face value; it is redeemable only at its bullion (metal) value as established by the Director of the U.S. Mint."

From the federal reserve bank services website.

Sorry, it just seems like this is valid question that deserves a bit more than " possibly " ?

 

[Tnmountains]

I always thought it was against the law to deface currency but yet every time I break a 100 someone marks it with a pen

 

[Moresound]

The fast food drive up window will take coins no matter what condition they are in.

Check out "clad for coffee" on the you tube channel "Stealth Diggers" video # 42 I believe.
We turn in all kinds of messed up coins at McD's, D D etc.

 

[fistfulladirt]

There is no law that specifies that (US) merchants must accept (US) coin as payment for goods.

 

[Dave44]

There is no law that specifies that (US) merchants must accept (US) coin as payment for goods.

Has someone used the word " merchant"? I don't think banks fit that word anymore. But I see where it gets confusing.

 

[fistfulladirt]

Has someone used the word " merchant"? I don't think banks fit that word anymore. But I see where it gets confusing.

Yeah banks are still private businesses, or merchants, and per the coinage act of 1965, they can set their own rules. "Cannot legally be refused as payment of debt", exchanging messed up coin for good coin is not payment of debt...but just an exchange of currency, so they can refuse?

Legal Tender Law & Legal Definition

 

[BC1969]

hrm confusing, do federal credit unions get covered by the coinage act ?

Mike

 

[fistfulladirt]

hrm confusing, do federal credit unions get covered by the coinage act ?

Mike

I believe that federal means that they are federally insured.

Really confusing is that the Federal Reserve is a private bank, and not affiliated with the US Govt.

 

[Dave44]

I believe that federal means that they are federally insured.

Really confusing is that the Federal Reserve is a private bank, and not affiliated with the US Govt.

Lololololol

 

[fistfulladirt]

Lololololol

OK, let's remove the "not affiliated" part.

 

[skeeter86]

I bet if you show up with a gold coin there will be know questions asked!