Believe it or not, there are restrictions on how much can be paid in coins in Australia. 9News
If Scrooge McDuck was in Australia, it would take him thousands of transactions to use his swimming pool of coins.
So, if you are paying with 1c or 2c coins you can only pay an amount up to 20 cents with just these coins.If you are using $1 or $2 coins you cannot exceed 10 times the face value of the coin .: "If someone wants to pay a merchant with five cent coins, they can only pay up to $5 worth of five cent coins and any more than that will not be considered legal tender."As tempting as it may be, it's not legal tender to pay a speeding or a parking fine entirely in coins.
As always, the provider of the goods or service you want to buy is "at liberty to set the commercial terms". This means it is entirely within a shop or business's rights to say they will not accept cash as payment, or that they will not accept coins.Do you have a Money Matters question for Stu to answer? Contact him via email atThe information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs.
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