8800 penny payback!

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Jun 28, 2010 | 01:44 PM

#11

The Raptor

Joined: Jul 2001

Posts: 59,375

Likes: 1,617

From: La Crescenta, CA

Quote:

Originally Posted by don2007,Jun 28 2010, 02:34 PM

Thanks your very helpful.

Do you have any friends?

(By the way, its Thanks, you're very helpful.)

I'm his friend.

Jun 28, 2010 | 02:02 PM

#12

magician

Registered User

Joined: Jul 2001

Posts: 6,592

Likes: 0

From: Yorba Linda, CA

Quote:

Originally Posted by don2007,Jun 28 2010, 01:34 PM

Do you have any friends?

Evidently.

Jun 28, 2010 | 02:43 PM

#13

Steponme

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Joined: Oct 2009

Posts: 2,825

Likes: 1

Quote:

Originally Posted by magician,Jun 28 2010, 09:17 AM

I recall reading many years ago that quantities of pennies in excess of 25 are not, in fact, legal tender. It was a court ruling to prevent exactly this sort of stupidity.

(By the way, it's 50%, not %50.)

25, really? That's too small a figure to be considered excessive. If were there a court ruling for such, then it was ridiculous. Heck, many bus riders used to pay 30 cents in pennies. If I had no quarter to pay and only pennies, I'd have to pay 25 pennies. I can understand that hundreds of pennies would be considered an excessive figure, but not 25.

Jun 28, 2010 | 02:56 PM

#14

magician

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Joined: Jul 2001

Posts: 6,592

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From: Yorba Linda, CA

[QUOTE=Steponme,Jun 28 2010, 02:43 PM]25, really?

Jun 28, 2010 | 05:01 PM

#15

Steponme

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Posts: 2,825

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Quote:

Originally Posted by magician,Jun 28 2010, 02:56 PM

Apparently the Coinage Acts of 1873 and 1879 specified that pennies and nickels were legal tender for amounts up to 25¢, (which is probably what I recalled reading), but the Coinage Act of 1965 removed that restriction.

Look here for full details.

As a business owner myself, I knew my business didn't legally have to accept a certain type of payment that we didn't see fit, and the last paragraph confirms that.

That towing company could've very well rejected his penny payment.