In general you can get away with it once in the US. After that, it’s still payment, but is also considered harassment, and they’ll charge you for it. There isn’t a law against it, because they’ll apply other laws if you do it
No, 5c coins are legal tender unless there’s over $5 worth of them.
Also, legal tender is what must be accepted. Someone could still choose to accept a payment that doesn’t count as legal tender, so even if it did work the way you interpreted it as, someone wouldn’t be obligated to refuse any payment over $5 that included a 5c piece. It’s so you can tell someone trying to be a dick with how they pay you to fuck off without losing the amount they pay you, not for fucking with people trying to make a good faith payment.
And besides both of those, electronic payments would still be a way to make that payment in full.
and afaik any entity with a banking license must trade whatever (perhaps within reason?) amount of 5c pieces for larger denominations, so it’s not like you couldn’t pay if you only had bunch of 5c pieces; you just have to do the work to convert it to something less annoying
In Canada, above a certain amount they need to be in rolls. But rolling machines are also a thing, though there’s a limit to how fast you can feed them.
If you found yourself in possession of Scrooge McDuck’s pool of coins, you might not be able to convert it all in one trip, but you’d be able to spend it all eventually.
I can’t speak for Canada, but in the US some banks require rolls while others require loose. The bank I worked for we required loose because we put them through a machine coin sorter. Smaller banks the tellers sometimes have to hand roll coins themselves so if you’re bringing in an excessive amount they have bank policies that it must be rolls. On the other hand we would have to break open any rolls you brought in because it’s very easy to fake rolled coins.
huh interesting… in australia there’s an upper limit on the amount you can pay with low denomination coins
https://en.m.wikipedia.org/wiki/Australian_five-cent_coin#cite_note-4
In general you can get away with it once in the US. After that, it’s still payment, but is also considered harassment, and they’ll charge you for it. There isn’t a law against it, because they’ll apply other laws if you do it
Wait, so, if I owe you 6,05 AUD, it’s impossible to pay you in full with legal tender?
No, 5c coins are legal tender unless there’s over $5 worth of them.
Also, legal tender is what must be accepted. Someone could still choose to accept a payment that doesn’t count as legal tender, so even if it did work the way you interpreted it as, someone wouldn’t be obligated to refuse any payment over $5 that included a 5c piece. It’s so you can tell someone trying to be a dick with how they pay you to fuck off without losing the amount they pay you, not for fucking with people trying to make a good faith payment.
And besides both of those, electronic payments would still be a way to make that payment in full.
this is correct, yes
and afaik any entity with a banking license must trade whatever (perhaps within reason?) amount of 5c pieces for larger denominations, so it’s not like you couldn’t pay if you only had bunch of 5c pieces; you just have to do the work to convert it to something less annoying
In Canada, above a certain amount they need to be in rolls. But rolling machines are also a thing, though there’s a limit to how fast you can feed them.
If you found yourself in possession of Scrooge McDuck’s pool of coins, you might not be able to convert it all in one trip, but you’d be able to spend it all eventually.
The Canadian currency act, where those limits are stated, is silent on the subject of rolls.
Ah thanks for the correction. I must have mistaken a convention or specific business’ policy for law.
I can’t speak for Canada, but in the US some banks require rolls while others require loose. The bank I worked for we required loose because we put them through a machine coin sorter. Smaller banks the tellers sometimes have to hand roll coins themselves so if you’re bringing in an excessive amount they have bank policies that it must be rolls. On the other hand we would have to break open any rolls you brought in because it’s very easy to fake rolled coins.
I assume it’s $5 worth of 5c coins total. So you could pay a $10 debt using one bill of $5 and 100 coins.
That’s the way I’ve understood our law, yes…
Ah that does make a lot more sense than my reading.