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MJNL told me a story about how someone had paid for a postage stamp in pennies, and we had discussed if it were possible to pay a large bill with small coins. I thought that it would be silly, but I could not see why not. Could the seller not decline the transaction? Well, I have been reading through A history of the Canadian Dollar and I came across a passage where coins were legal tender up to a set maximum amount in the late nineteenth century. So there was a limit then! I decided to look to see if there was still a limit and it was not long before I found a wikipedia entry on Canadian 'Legal Tender' which noted limits for Canadian coinage. Interesting stuff.
Sunday, November 18, 2007 at 13:16:05 (UTC)
I remember Mr. Wright from Woburn commenting on the other funny thing about Canadian legal tender -- there's a law that stipulates that American coinage is considered equivalent to Canadian coinage. However, as Mr. Wright pointed out, if you took $10 in American quarters into the US, exchanged it for a $10 US banknote, and then brought it back into Canada it would then be valued as American currency.
--- HKL
Grinning Reaper
Sunday, November 18, 2007 at 16:30:39 (UTC)
Yes, I believe that most stores do actually take sub US dollars at par. Mind you, according to the article, US currency is not legal tender.
So yes, stores will take the US dollar as it is generally advantageous for the store to do so especially near the border.
QYV