Marathon Man

received JA today--ordered on my wife's amex as APARTMENT 1 and it worked again.

Fed X came and wanted a signature too.

I then took them in my car when doing errands. Had to pay the tool and lawnmower repairman to fix those items and he takes cash and checks but I didnt want to dump this old workin' man these coins, so I decided to get paper money for the bloke.

Stopped into a pizza place and the old Greek lady there would NOT take an unopened roll of $25 to pay for my $7 in food (whereas ideally she'd give me back change and keep the roll unopened for ease). She said banks she makes business deposits into give her hassle and nobody takes the coins. She gets a few because the pizza place is near the train.

Across the street is a post office, which could not take them for paper money. Near that is a bank I have no acct at and the tellers said, "we have to take them--they are currency. She gave me $ and I left. I told her BofA will only take them from me now if I give them lots of $2,000. She said their bank will actually hold them til they get that much but they have no problem taken the coins.

I paid the tool man real money but the bill was $102 so I gave him 2 coins and he had never seen them. Like the Greek lady, he said he did not like them and thought most people do not.

So it's harder to REDEEM these, but they do work if you know how--kinda like a mileage award, eh?

travis bickle

You mean it WAS harder FOR YOU to redeem them, right?

Sounds like the bank you referenced is a perfect fit for you.

And, no, we have no problem here. My credit union has a branch office 0.9 miles from home, so I go in there before or after work and spend 4 minutes, tops, and that's it.

Marathon Man

possibly, but even as a long time acct holder at the local BofA where I know everyone, the manager seemed to indicate that I had maxed out my welcome with coins. This bank was my first visit. Surely they will sing a different tune when I come in like every week with $500 per whack. I hope not though.

WonderDude

Ordered up 2 boxes of both Washington and Madison today. Nice!

Received my Andy Jacksons today and took 'em straight down to the credit union. Interestingly, they wouldn't take them in rolls. I had to bust all the rolls open and run them through the coin machine in the lobby.

It was kinda fun smacking the rolls together to crack them, and then dumping the coins in the hopper. Took an extra 5 minutes, but all 500 bones got deposited.

Btw, I did have to sign for them when the FedEx guy showed up. Lucky I was home!

gomike

I will say this, if a bank makes it difficult to deposit money and the manager is not helping I would not hesitate to speak to a regional supervisor. IMO banks should be required to accept any currency.

rc408

On that note, my assumption is that money is money and if it is legal tender it cannot be refused as payment. Of course there may be no law or regulation enforcing this. Though I would think they may have passed one saying that an institution can refuse after that guy paid the IRS in pennies a while ago.

cepheid

It most certainly can be, if there is no pre-existing debt. "Legal tender" must be accepted for pre-existing debt, for example paying for a meal after having eaten it. When debt is incurred cotemporaneously with payment, such as when pre-paying for food before eating it, the merchant is not required to accept legal tender at all, or may restrict the forms of legal tender accepted. See Wikipedia.

By that token, banks presumably do not have to accept all forms of legal tender, since there is no debt incurred. However, a bank isn't really a merchant, and they're regulated differently, so I don't really know whether or not they can turn away specific forms of currency.

KRSW

Wirelessly posted (BB8830: BlackBerry8830/4.2.2 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/106)

Oh, the coin machines *are* fun. Just dumped out a pretzel jar full of mixed coins last week. Something very satsifying about the clinking and clanging and watching the counter climbing. Not too different from a slot machine.

rc408

That makes sense. So how about the IRS refusing paymet in pennies?

jcwik

Please reassure me. I ordered two boxes a while ago and they were shipped September 3. The tracking # says there is no such number. They were sent to my P.O. box registered. I called today and the man said that some of his customers have said they took four weeks. He said the post office cannot track them. Is two weeks a long enough time? Should I be worried? Thanks for all the amazing things I've learned here. Now I want my money.
Judi

cepheid

No idea, but it's the IRS...

Edit: Various Google searches reveal that the IRS can accept payments in pennies, however standard operating procedure is to count the payment in the presence of the taxpayer to ensure proper payment. Therefore, the IRS could require the taxpayer to wait while all the pennies are counted.

See the IRS Manual on Cash Payments.

mahasamatman

A bank deposit can in no way be considered a payment.

AAerSTL

I'm in the same situation. Ordered 500x Andrew Jackson on 8/26 which shipped 9/9. Got email just fine, however USPS says I was given an invalid tracking number. Called and the CSR said that was the only number she had and that it could take 3-4 weeks for me to receive them. However, mine are being shipped registered mail (per my request) to a street address. My AMEX has been charged but I don't have the coins. I am thinking of having my future orders shipped by Fedex. Any advice?

Amicus

Today I receive a FedEx package, signature required. Inside the small box is a single sheet of paper: the form I need to complete attesting to the non-receipt of my order of $1000 of the Presidential coins.

Meanwhile, I've learned that the coins had been shipped from the Mint via DHL, that the coins had in fact arrived at the DHL sorting facility in my state, and that is as far as they got.
The P.O. contends that they never received the coins from the DHL sorting facility, to be delivered to my house, but DHL asserts that the coins were loaded on their courier truck to be taken to the P.O.

Amicus

From what I have learned recently, it is true that the Post office can not track your coin shipment. . .
My order was placed in early August, and I was emailed a tracking number for the USPS. However, the Mint doesn't inform customers that in fact your coin shipment may be sent via private courier, such as DHL. Therefore, the shipment may arrive at the DHL sorting facility in your state, and the Mint is able to track this delivery. After that, it is up to DHL to deliver the package to your post office, for final delivery to you. Here is where my shipment suddenly got "lost."
Disputed the charge to my credit card, for non -receipt of the coins.