£5 coin - 80th birthday Queen Elizabeth II
Comments
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Sometimes when they do this, it's to try to suck you in to a bigger "collecting opportunity" - in other words, the UK 80th Birthday £5 coin is just one coin in a 20-coin set of 80th birthday coins from the 4 corners of the Commonwealth (or whatever!). My guess is that you'll get the hard sell for the rest of the collection along with your 'cheap' UK coin, and the rest of the set will most definitely cost a lot more than £5 each if they manage to 'persuade' you!0
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melancholly wrote:i was given a £5 coin for a present … would shops accept it as payment … ?古池や蛙飛込む水の音0
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I purchased 8 from the royal mint web site with free postage and packaging and had no problems spending them at shops.Nice to save.0
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Alfie_E wrote:However, there’s nothing to force a shop to accept payment in any form of cash.
I seem to remember a long time ago that someone paid a long-fought over fine by "writing a cheque" by carving the words in the bloody carcass of a large shark. Again, apparently this fulfilled the rules about being a legal "bill of exchange" so the payee had to accept it.koru0 -
If this coin is legal tender then retailers are obliged to accept them in payment (subject to specified limits for each denomination)
Cheques are different and can be written on anything (back of an envelope, dead shark, the flanks of a live cow etc) as long as they say the right words, I think they can be refused if they are too difficult or un-pleasant to handle.
Mr T0 -
misterthrifty wrote:If this coin is legal tender then retailers are obliged to accept them in payment (subject to specified limits for each denomination)
"LEGAL TENDER" actually has nothing to do with using this coin or any other in any quantity.
It has a rather narrow and technical meaning in the settlement of debts. It means that a debtor cannot successfully be sued for non-payment if he pays the amount into court in legal tender.
The term "legal tender" is a restriction on the number of coins that can be used to make a payment - above which the recipient can refuse to take them under them "NOT being legal tender"
It does not mean that any ordinary transaction has to take place in legal tender or only within the amount denominated by the legislation. Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes.
However, in order to comply with the very strict rules governing an actual legal tender transaction it is necessary, for example, actually to offer the exact amount due because no change can be demanded.
Under such a transaction there is NO limit on any banknote or coins with a value above £1.
However 1p & 2p coins should not exceed a total of 20p
5p & 10p coins should not exceed £5
and 20p & 50p ( & any 25p "Crowns") no more than £10
There is an additional restriction on Bank of ENGLAND notes.
Obviously no problem in England and Wales, the £5, £10, £20 and £50 notes are legal tender for payment of any amount, but they are not legal tender in Scotland and Northern IrelandThere are 10 types of people in the world. ‹(•¿•)›(11)A104.28S94.98O112.46N86.73D101.02(12)J130.63F126.76M134.38A200.98M156.30J95.56J102.85A175.93
‹(•¿•)› Those that understand binary and those that do not!
Veni, Vidi, VISA ! ................. I came, I saw, I PURCHASED
S LOWER CASE OMEGA;6.59 so far ..0 -
misterthrifty wrote:If this coin is legal tender then retailers are obliged to accept them in payment (subject to specified limits for each denomination)
They are obliged to accept legal tender in settlement of a debt, but that doesn't mean they are obliged to sell to you or to create a debt.koru0
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