Can a cashier refuse pennies?

While federal law states that coins are legal tender, it does not compel anyone to accept them. If a business doesn't want to take pennies — or a $100 bill, for that matter — it has a legal right to refuse them.

Can a bank refuse to take coins?

Yes. A bank can set its own internal policy as to whether it will accept or exchange unrolled coins for currency.

Are pennies considered legal tender?

5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal ...

Why do vending machines reject pennies?

Since pennies usually aren't worth what it will cost to transport and sort them, a vast majority of machines won't even accept them. This includes laundry machines, vending machines, and most coin machines.

How many pennies can you legally pay with?

The article cites Title 31 of the U.S. Code, which states that minor coins (pennies and nickels) are legal tender at their nominal value for any amount not to exceed 25 cents in any one payment.

Cashier shames elderly man for paying with coins | WWYD

Do stores accept pennies?

You may not like what you're about to learn: pennies are still legal tender. That means you can still use them at stores, and you can still deposit them at the bank.

Can I pay bills in pennies?

The federal “legal tender” statute, § 31 U.S.C. 5103, states that “United States coins and currency . . . are legal tender for all debts, public charges, taxes, and dues.” The purpose of the statute is to ensure that U.S. currency is accepted nationwide as a form of legal tender to satisfy the payment of debts.

Why won't the U.S. get rid of pennies?

In effect, eliminating the penny means all retail prices would end in zero or five. Some prices would rise a few pennies; some would be rounded down. Prices that end in 99 cents are common, and penny proponents have argued that eliminating pennies would amount to a one-cent sales tax.

What is penny hoarding?

The Penny Hoarder is an American personal finance website and brand based in St. Petersburg, Florida. Owned by Clearlink, The Penny Hoarder publishes multimedia content about different ways people can make and save money. Founder and CEO Kyle Taylor started the website in 2010.

Why wont a vending machine take my coins?

While trying again with a new coin occasionally solves the problem, sometimes the machine refuses to accept change. Vending machines not taking coins could point to several underlying issues, including low change, dirty or worn-out parts, and outdated mechanisms.

Is changing pennies illegal?

It is not illegal to melt, form, destroy, or otherwise modify US coins, including pennies, unless the objective is fraudulent or with the intent of selling the raw materials of the coins for profit. Projects that use coins as materials are entirely legal in the United States.

Can you pay with a roll of coins?

Don't forget that coins can be used for purchases, too — just roll them up and use them like you would bills.

Can you refuse copper coins?

“Both parties to a transaction are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes.

What should I do with my pennies?

Can you bring dirty coins to the bank?

Contaminated Coin Procedures

The Federal Reserve does not accept deposits of Contaminated Coin. Customers who wish to deposit coin after decontamination should contact their FedCash Services contact.

Why is a 1982 penny worth $10000?

So for the past 30 years, pennies have been made with an alloy comprised of 97.5% zinc and 2.5% copper, but pennies minted before 1982 are 95% copper and 5% zinc. The price of copper has more than quadrupled over the past 10 years.

How much is 10 lbs of copper pennies worth?

One modern US penny weighs 0.088 ounces. That means it would take approximately 1,818 pennies to weigh 10 pounds, which would be worth 18 dollars and 18 cents.

Are pre 1982 pennies worth saving?

It turns out all pennies with a date of 1981 or earlier were made from nearly pure copper, which means they are actually worth three times their face value - three cents.

Can you legally melt U.S. pennies?

Many online debates have popped up over the legality of melting down U.S. coins. It is not illegal to melt, destroy, or modify any U.S. coins in the United States.

How much is a 1943 lead penny worth?

Most 1943 Lincoln pennies in worn grades (average condition) trade for around 10 cents to 25 cents apiece. Typical examples in uncirculated condition usually realize $1 to $5. Top-level specimens in grades of Mint State-67 or better can go for much more, sometimes hundreds or even thousands of dollars.

What will replace the penny?

(1) All pennies will be discontinued from the United States currency circulation and not replaced with a denomination of equal value. (2) The United States Mint will be directed to stop their production of the penny and not replace it with a denomination of equal value.

Can you deposit penny at a bank?

Banks or credit unions

You can also turn to a local bank or credit union to exchange your coins for cash — or deposit the money into a bank account. Many of those financial institutions will ask you to roll the coins to turn them in. Here are the denominations for each type of coin: Pennies: 50 per roll ($0.50)

Can I pay for gas with pennies?

Here's what the law says: The Coinage Act of 1965, specifically Section 31 U.S.C. 5103, states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.

How can I cash in pennies?