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Granny cops a shock when Coles rejects her coins

Adam Zuchetti
Adam Zuchetti
08 September 2017 1 minute readShare
Old hand, coins, money, retirement

A Melbourne pensioner has discovered the hard way that businesses can refrain from accepting coins, after Coles told her it would not accept large numbers of coins.

“Just took my 82-year-old mother to Coles Glen Waverley – her total bill was 130 dollars she paid 100 in notes and 30 in gold coins. We were told by the cashier that she will accept the gold coins this time however next time she can only accept 20 dollars in gold coins,” Helen Helmy wrote on Coles’ Facebook page.

“My mother and I were quite embarrassed and my question is when has there been a law as to what money is accepted at Coles.”

The post, made at the end of August, has since attracted more than 1,200 shares and some 8,500 comments, with many people equally stunned to learn their cash can be turned down, with one even saying: “It’s pretty poor on the part of coles [sic]”.

However, as My Business recently reported, businesses have a legal right to decline payments made in coins above a certain value.

“Refusal to accept payment in legal tender banknotes and coins is not unlawful,” the RBA website states.

Given the public misperception that ‘legal tender is legal tender’, any businesses looking to enforce a limit on cash payments should make this policy known, verbally and/or in writing, prior to the point of sale, to minimise the risk of customers receiving an unwelcome surprise when making their payment.

Granny cops a shock when Coles rejects her coins
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Adam Zuchetti
Adam Zuchetti

Adam Zuchetti is the former editor of MyBusiness and a senior freelance media professional, specialising in the fields of business, personal finance and property. In 2020, he also embarked on his own business journey – inspired in part by the entrepreneurs and founders he had met through his journalistic work – with the launch of customised pet gifting and subscription service Paws N’ All.

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