Aren't our green backs legal tender??

Question

I went to a store the other day, and tried to pay with a 20 dollar bill, and the guy behind the counter told me he only accepts debt and credit. I just stared at him, dropped the things I was going to purchase and walked out the door. I couldn't believe it! He was from the East. So is our money not good enough for them.

Answer 1

The person or the store is the one that lost out on the sale. Just move on and do your business somewhere else

Answer 2

I have never heard of a store refusing cash. Yes, cash is legally accepted for all debts, so I'm not sure what this guy was talking about. I also don't know why a store would only accept credit and debit, since they have to pay for those transactions, while they have no charges for accepting cash. Are you sure this really happened?

Edit to Snorkmeister: I'm not sure where on wiki you saw that, but even if you did, it's just wiki. Coins and currency in the US are legal tender. It even says so on the bills. However, it is true that private businesses aren't required to take them if they don't want to. I've just never heard of one refusing all cash, just large bills.

Answer 3

According to Wikipedia ... "only gold and silver coin has the lawful status of legal tender."   It seems that concept went out the window a long time ago in the USA

Answer 4

Yes, paper currency is legal tender. Did you ask the guy WHY he didn't take cash? Maybe he doesn't want to keep cash on hand, in case of robberies. I had an insurance company that was like that.

Answer 5

Not really since the money is backed by debt not a nations ability to produce or gold&silver or anything tangible at all.