Is Paying with Coins Legal in Canada? Understand the Rules
Find out if it's legal to pay with coins in Canada and discover the limits on coin transactions.
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No, it is not illegal to pay with coins in Canada, but there are limits on the amount of coins that can be used in a transaction. According to the Currency Act, merchants can refuse more than 25 pennies or more than $5 in nickels in a single transaction. Always check with a merchant beforehand if you plan to use a large amount of coins.
FAQs & Answers
- What is the Currency Act in Canada? The Currency Act is a Canadian law that regulates the use of coins and currencies in transactions.
- Can a merchant refuse to accept coins? Yes, merchants can refuse to accept more than 25 pennies or over $5 in nickels for a single transaction.
- Are there any exceptions to coin payment limits? Exceptions may vary by merchant policy, so it's always best to inquire in advance about their coin acceptance.
- What are my options if I have many coins? You can use coin-counting machines at banks or stores, or exchange them for bills at your bank.