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Is Royal Mints legal tender promise worthless?


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So this week my Nan got a full refund from the royal mint for the 10 £100 buckingham palace coins, big relief for me as I felt somewhat responsible, pleased the mint have now made good on these coins for those that want their money back. 

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  • 2 weeks later...
11 minutes ago, whitesands1 said:

The council could refuse the payment if they wanted to (if this is real)

The law, if I'm not mistaken is the below.

  • 1p - for any amount not exceeding 20p
  • 2p - for any amount not exceeding 20p
  • 5p - for any amount not exceeding £5
  • 10p - for any amount not exceeding £5
  • 20p - for any amount not exceeding £10
  • 50p - for any amount not exceeding £10
  • £1 - for any amount
  • £2 - for any amount
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Just now, SoulUK said:

The council could refuse the payment if they wanted to (if this is real)

The law, if I'm not mistaken is the below.

  • 1p - for any amount not exceeding 20p
  • 2p - for any amount not exceeding 20p
  • 5p - for any amount not exceeding £5
  • 10p - for any amount not exceeding £5
  • 20p - for any amount not exceeding £10
  • 50p - for any amount not exceeding £10
  • £1 - for any amount
  • £2 - for any amount

That's what I thought!  Would have kept the council employees busy for a day or two!

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8 minutes ago, SoulUK said:

The council could refuse the payment if they wanted to (if this is real)

The law, if I'm not mistaken is the below.

  • 1p - for any amount not exceeding 20p
  • 2p - for any amount not exceeding 20p
  • 5p - for any amount not exceeding £5
  • 10p - for any amount not exceeding £5
  • 20p - for any amount not exceeding £10
  • 50p - for any amount not exceeding £10
  • £1 - for any amount
  • £2 - for any amount

LOL they said they would accept the payment on the phone beforehand , so he checked if it was ok, they probably thought he was joking and didn't think the psycho would actually go to his bank and order up 1 whole tonne weight of pennies, but if the council said it was ok then that is a legal contract in and of itself so they had to accept so its their fault.

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38 minutes ago, JB3 said:

And I doubt the bank would comply.

 

Whole story sounds like bollocks to me.

Well they might not but then again how do arcades and casinos deal with large amounts of coins? they have to process them one way or another through a bank, a new arcade for instance would need a lot of coins to get started.

Are you saying the bank would discriminate one request vs another? only if it was a known illegal activity which this was not.

 

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This is the type of guy that causes chaos and is never wrong!  The Council will have learned from this. Maybe got a bill from the supermarket for the wrecked trollies!

Stupid story on a number of fronts, but of interest from the Legal Tender angle.

WIth the price of gold he could have paid with a matchbox full of bullion!

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Totally missed this thread, thanks for the video @Numistacker

Doesn't seem worth the risk that they might not be honoured at their face value

Pretty scandalous for the RM to be selling these if they know it's going to fook people over 

 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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I was just doing my accounts for February, checked my bank statement and my refund from RM came to me on 19th Feb, without any e-mail or nothing,

so that's good and prompt service,

but hellishly quiet.

I assume they're very embarassed about the whole thing.

(They'll never see a penny from me again but I do like the nicely made brochures they send us, lovely quality)

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It depends.  They would likely need a coin counting machine as the bank probably would accept them in one big load.  They need splitting up into £100 bags or £50 bags.  I can't remember the bag size for coppers.

G4S definitely wouldn't collect it if still in the trolleys.

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