What is Legal Tender ?

[jeff of pa]

We have had this Discussion here several times, After reading about Merchants,
Etc.
Refusing Coin in large amounts.

Here is an Article From 1895 Somerset PA


The Somerset herald. (Somerset, Pa.), 17 April 1895



The Somerset herald. (Somerset, Pa.) 1870-1936, April 17, 1895, Image 1 « Chronicling America « Library of Congress

 

[Argentium]

Very interesting ! How nice it would be to be "compelled to take " a massive number of Silver Dollars for paper - Ha !

 

[stefen]

Sounds like an Abbott & Costello routine...

 

[kingskid1611]

It don't work the same way for pennies...

 

[releventchair]

It don't work the same way for pennies...

Awwww, you said the "P" word.

 

[Charlie P. (NY)]

I was a City Treasurer in 2010 and it was different from 1895.

A company, firm, organization, municipality can set a policy of what it will accept. The Federal Government HAS to take legal tender in payment of taxes. Other entities can set policy that says otherwise so long as it is published where someone can see it before entering a transaction. i.e. a resturant can't refuse to accept a $100 bill if that is all the diner has and the policy was not displayed before the goods and service was provided.

Every month we'd get a clown who was going to "punish" city hall with a bag of cents. We'd direct him to the local bank because we would not accept them. Pity the guy in line on his lunch-break waiting to beat a parking meter while a clerk counts out $45 in cents from the bozo anead of him in line. Who suffers? And a coin counter machine would cost ALL taxpayers a chunk of coin.

 

[Duckshot]

Article 1, section 8 of the U.S. Constitution grants the federal government "the power to coin money and regulate the value thereof". Meanwhile, Article 1, section 10, clause 1 states that " No State may make anything other than gold and silver coin a legal tender of debt.".

So the teller could of and should have rejected the $5 paper bill( bill of credit). And The People fail in their diligence to protect freedom and liberty from the Federal Government once again. : (

 

[jeff of pa]

in My opinion it comes down to Freedom of Choice .

Anyone should be allowed to say no to change if they wish.

Even though I tried to Pay a fine many years ago with a Bag Full,
and was told No ! I do feel they were within their right to refuse.
Just like I was within my right to say,
"you don't want my Money... Bye !"
& they were in their right To pick me up a year or so later for not Paying it

 

[bigfoot1]

legal tender up on my mtn. means one thing....18 yrs old....just sayin