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In the United Kingdom -
1 and 2 Pence coins are legal tender for amounts up to 20 Pence.
5 and 10 Pence coins are legal tender for amounts up to Five Pounds.
20 and 50 Pence coins are legal tender for amounts up to Ten Pounds.
One, Two and Five Pound coins are legal tender for any amount.
Australia and New Zealand have similar limitations to the UK on low denomination coins.
In the USA -
All circulating US coins and banknotes are legal tender for all debts and charges.
(A retailer might reasonably refuse payment of large amounts in one cent coins due to the practicality of dealing with a wheelbarrow load of coins.)
What else can I help you with?
What is the legal requirement for businesses to accept payment with pennies according to the paying with pennies law?
The legal requirement for businesses to accept payment with pennies is that they must accept up to 100 pennies for any transaction. This is in accordance with the "Legal Tender for Payment of Debt Act" which states that all U.S. coins and currency are legal tender for payment of debts.
Can a shop turn away payment in pennies?
Actually it is their option to accept pennies. It just not very common. There are some countries that "advise" that the acceptance of pennies as payment may not exceed a certain amount after which they are not classed as "legal tender" one such country is the UK where up to 20 pence in pennies is the maximum that is classed as legal tender
Are pennies legal tender?
Yes penny's are legal tender.
Are wheat pennies currency today?
They are legal tender.
What is legal tender money?
a legal medium of payment
Is it legal tender to pay a bill with 1000 pennies?
No. The British Penny is only Legal Tender in amounts up to 20 Pence.
Are coins and checks legal tender?
coins are legal tenderpersonal checks, credit cards, and similar non-cash methods of payment are not usually legal tender
Are checks considered legal tender?
No
In Australia is one obliged to accept Australian currency in payment?
Yes - this is what "legal tender" means. The Australian dollar is legal tender in Australia.
Legal tender money?
Legal tender money is currency recognized by a government as valid for settling financial obligations, like taxes, debts, or purchases. It must be accepted for payment within the jurisdiction that issued it. Examples include banknotes and coins issued by a government's central bank.
What is limited legal tender money?
Legal Tender is a forced tender payment that should be not refused in settlement of a debt. http://en.wikipedia.org/wiki/Legal_tender
Are postage stamps legal tender?
No, they are not considered legal tender. If someone is willing to accept them, there is no problem with it, but they do not have to accept them.
