Is there a limit to the number of coins you can hand over as payment?<\/p>\n
Yes. Many countries prevent consumers from causing retail havoc by plonking a jar or bag of small change on a counter\u201a and proceeding to count the coins\u201a but few consumers are aware of how many are too many.<\/p>\n
The issue has been highlighted in the UK media his week\u201a thanks to the Essex bus driver who refused to allow Laura Pulley and her young daughter to travel on his bus because she tried to pay her 60p fare with too many pennies – about 25p\u2019s worth.<\/p>\n
The driver told her he was legally entitled to accept only 20p in pennies\u201a and when she refused to get off the bus\u201a he called the police. The policeman who responded gave Pulley the money in non-coppers and they got to ride on the bus.<\/p>\n
\u201cI’ve complained to the bus company as I would just expect the driver to use a bit of common sense\u201a\u201d she was reported as saying. The bus company has since apologised.<\/p>\n
So what law was that overzealous driver relying on?<\/p>\n
The UK\u2019s Coinage Act of 1971\u201a which states that 1p and 2p coins are only legal tender up to a maximum of 20p for a single transaction\u201a 5p and 10p coins only up to \u00a35 and 50p pieces only up to \u00a310.<\/p>\n
South Africa\u2019s Reserve Bank imposes similar limits on the amount of coins we consumers can pay with for each transaction.<\/p>\n
You can\u2019t hand over more than ten 5 cent pieces per transaction\u201a in other words\u201a no more than 50 cents in 5 cent pieces.<\/p>\n
If you\u2019re paying with coins in denominations of between 10 and 50 cents\u201a you can only tender up to R5 worth\u201a and in the case of coins of R1 or higher\u201a the limit is R50 worth.<\/p>\n
About those 5 cent pieces – although the SA Mint stopped making them two years ago\u201a they remain legal tender\u201a along with all other coins no longer being minted.<\/p>\n
But retailers regularly refuse to accept 5 cent pieces – any number – from consumers as payment.<\/p>\n
If that happens to you\u201a stand your ground and ask to see a manager. If they still refuse\u201a report them to the Reserve Bank. The number to call is 0861 12 SARB (0861 12 7272).<\/p>\n
Weak rand hits SA tech prices<\/a><\/strong><\/p>\n The rand is more stable than you think<\/a><\/strong><\/p>\n