Pennies only have to be accepted if there is a state law saying so. For example in California if a landlord refuses a cash payment (pennies or otherwise) then the tenant basically gets free rent that month. Businesses generally set their own rules as to what is accepted. Just like you see signs saying “No bills over $20” - 50’s and 100’s are legal tender, but they can refuse them just like a bucket of pennies can be refused.
Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code 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. Foreign gold or silver coins are not legal tender for debts.
Since you feel like quoting things is conducive to proper discusion:
Is it legal for a business in the United States to refuse cash as a form of payment?
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.
Section 31 U.S.C. 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 offer of payment for debts when tendered to a creditor.
are legal tender for all debts, public charges, taxes, and dues
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services
Goods or services ≠ debts, public charges, taxes, and dues.
A retail store, a restaurant etc. can refuse currency from a customer but a loan/lien holder, a public utility company, a government entity or an HOA must all accept any legal tender.
Pennies only have to be accepted if there is a state law saying so. For example in California if a landlord refuses a cash payment (pennies or otherwise) then the tenant basically gets free rent that month. Businesses generally set their own rules as to what is accepted. Just like you see signs saying “No bills over $20” - 50’s and 100’s are legal tender, but they can refuse them just like a bucket of pennies can be refused.
Title 31 (Money and Finance), Subtitle IV (Money), Chapter 51 (Coins and Currency), Subchapter I (Monetary System), Section 5103 (Legal Tender) of the United States Code states:
Since you feel like quoting things is conducive to proper discusion:
https://www.federalreserve.gov/faqs/currency_12772.htm
Goods or services ≠ debts, public charges, taxes, and dues.
A retail store, a restaurant etc. can refuse currency from a customer but a loan/lien holder, a public utility company, a government entity or an HOA must all accept any legal tender.
You’re confusing two separate situations.
Yes, you’re correct. That’s where the “debt” part comes in. If it’s before you incur the debt, they can refuse to accept any legal tender.