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Is a retailer is required by law to accept any US coin payment?
Wiki User
∙ 14y ago
This is a very murky topic. At one time the US had some obscure laws regarding the number of coins that a retailer must accept in payment. However the Coinage Law of 1965 eliminated the maximum number of coins of any denomination that a retailer could legally be forced to take.
Despite that, there have been rulings that merchants are free to specify which kinds of bills they will accept, so it appears to be perfectly legal for a store to say they won't take $100 bills, for example. By extension that would seem to at least partially contradict the idea that there's no limit on the number of coins a store could take. It also would seem to allow a merchant to say that they won't accept pennies or half-dollars, although that's not a common problem.
It's mostly a problem only when someone uses large numbers of coins as a form of protest, such as using buckets of pennies to pay a disputed tax bill. In these cases lower courts have tended to rule against the payer, but again, there's no hard rule in place.
Wiki User
∙ 14y ago
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What is the value of a 1866 2 cent coin circulated uncertified?
The value of this Civil War era coin is based on its circulation condition. It can range in from $15 to $90.
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You can sell such a coin to a coin dealer or a collector. Dealers buy coins for as little as they can with the intent of reselling them at a profit whereas a collector buys them to keep in a collection for maybe years at a time. With that in mind you may get a better price if you sell to a collector.
Oqlahoma misprint all copper on 1 side you want to sell it where can you go?
1. That's OKLAHOMA2. Coins are struck or minted. Printing requires paper and ink, like dollar bills.Anyway, what you have sounds like a "lamination error". The outer nickel-copper cladding is missing from one side of the coin, so the inner copper core is visible. Lamination errors happen more than you might expect, but still aren't all that common in circulation due to improved quality control at the Mint.Current retail values for a state quarter lamination error are in excess of $15. You might be able to sell it to a dealer or at a coin show, but you'd only get wholesale for it - maybe $10. eBay is another alternative but coin prices there tend to be a free-for-all and aren't always reflective of market realities.
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What are some types of small scale industries?
All types of small-scale industries found in India whether in manufacturing sector or service sector are divided into five types:1. Manufacturing Industries:Those units which are producing complete articles for direct consumption and also for processing industries are called as manufacturing industries. For example : Powerlooms, engineering industries, coin industries, khadi industries, food processing industries etc.2. Ancillary Industries:The industries which are producing parts and components and rendering services to large industries are called as ancillary industries.3. Service Industries:Service industries are those which are covering light repair shops necessary to maintain mechanical equipments. These industries are essentially machine- based.4. Feeder Industries:Feeder industries are those which are specialising in certain types of products and services, e.g. casting, electro-plating, welding, etc.5. Mining or Quarries.
Will Tesco supermarkets accept a Five Pound coin?
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Are states allowed to coin their own money?
In a word, no. Issuing coins and bills is reserved for the federal government only. Some towns will issue "money" called scrip that's used for local businesses as a promotional device, but no one is required to accept it in payment and it's not recognized as money outside of the issuing town.
Who will buy a 1962 5 cent Canadian coin?
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Is it a law that you must take coin as payment?
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What is a coin slot?
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Do stores accept coin rolls?
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Must retailers accept rolled coins as payment?
Retail store owners can determine which form of payment they will accept and which ones they will not accept. They own the business and can conduct it as they wish, to an extent. Some choose not to accept checks, others do not accept credit cards, while some may choose to not accept rolled coins. There is a potential from would be thieves to roll up some washers, slip in a small piece of pipe, or use something else to fill a roll for coins. Retailers have to be careful because of this and some have chosen to not accept rolled coins because of it. You could take them in the store rolled up and then dump them out to be counted. This will ensure your actually giving them what the coin roll states is in the roll. If they still refuse to take them as payment, contact the manager and inform them of the situation, letting them know that the clerk would not accept your coins for payment. I'd bet your coins would be gladly accepted by the manager because they know retailers are in business to make money, whether it's coins or dollars. They just don't want to get ripped off.
Does a bank violate any law by refusing to exchange coin for paper money of the same value?
No, banks are free to accept or reject coin at their will. Similarly, banks can accept or reject paper money at will.
