Can anyone provide citations?
2007-03-10 05:04:04 · 5 answers · asked by clontar7 1 in Politics & Government ➔ Law & Ethics
That's a new one to me. I never heard that. I do know that the copper in the penny is now worth more than the face value of the coin.
2007-03-10 05:07:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I have never heard of any such thing.
Shopkeepers who don't like taking coins can require that the customer count out the coins on the spot. If there is a line, it might seem that that would be vexing, but the embarrassment the customer endures should curtail similar activity in the future.
Here is a pertinent link...and I was surprised myself as I didn't know all of this: http://www.treas.gov/education/faq/currency/legal-tender.shtml#q1
2007-03-10 13:25:27 · answer #2 · answered by Wyoming Rider 6 · 0⤊ 0⤋
A penny is legal tender in any amount. Go to http://www.snopes.com/business/money/pennies.asp for an excellent explenation of this and a citing of the Federal Law.
2007-03-10 13:14:20 · answer #3 · answered by smilindave1 4 · 1⤊ 0⤋
Yes. In the past there was such a law. I suspect it was repealed back in the 1960's when we stopped making real money out of silver and started printing fiat currency.
2007-03-10 13:11:33 · answer #4 · answered by trentrockport 5 · 0⤊ 0⤋
In school I learned a store did not have to accept more than twenty five cents in pennies at a time. I don't think it is an actual law though. I know much more than twenty five cents is pretty rude.
2007-03-10 13:09:07 · answer #5 · answered by bumppo 5 · 0⤊ 2⤋