ARmy Rumour SErvice

Don't try that in the UK though

According to the Royal Mint. Payment over the following amounts can be refused.

1p....20p

2p...20p

5p...£5

10p...£5

20p...£10

50p...£10

£1+£2 are valid in any amount.

So you would look pretty daft with a couple of ammo boxes full of shrapnel and no one will take it

if they are old pennies though and silver you could just melt it down and cash in.

Steven: Surely that would be a banking regulation <laughter> so why's the Royal Mint getting into the act?

Originally Posted by Grumblegrunt

if they are old pennies though and silver you could just melt it down and cash in.

Copper in fact and the US treasury made it an offence to try and stop people doing it.

Originally Posted by Fireplace

Steven: Surely that would be a banking regulation <laughter> so why's the Royal Mint getting into the act?

Because coins and notes are legal tender. If a bank imposed the limits by itself you could argue that they had refused reasonable payment and therefore they could not pursue the debt. By having the Bank of England regulate the maximum amounts the high street banks can legitimate refuse payment above these limits, but you would still owe them the debt.

I don't know how this works with depositing cash into your own account.

It's explained here:

Legal Tender Guidelines

I believe that it only applies if you're paying a debt thus there's no problem with traders dropping £3000 in pennies on the bank counter at lunchtime.

Of particular note is that there's no requirement to give change. Bear this in mind when you dash into the newsagent and hand over a tenner for a Mars bar so that you've some change for the parking meter. The newsagent would be entitled to drop the tenner into the till, say "Thanks" and move onto the next customer.

Seeing this thread and remembering a computer fitted inside an ammo tin I googled it. I wish I hadn't. There's hundreds of the fcukers now.

computer in ammunition box - Google Search