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l o v e l e s s # d e e j a y

11/29/2006

my 5 cents story 11/29/2006 12:01:00 PM

last night on news i saw a local news report regrading the use of 5 cents coins in singapore.

some stall put up a sign saying they dun accept 5 cents coins....

should it be like that?

Quote
Shopkeeper refused to take my 5-cent coins

A FEW weeks ago, I went to a shop at Clementi West Street 2 to buy The New Paper which cost 70 cents.

I wanted to pay with two 20-cent coins, two 10-cent coins and two 5-cent coins. But when I placed the coins in the shopkeeper's hand, she told me she did not accept 5-cent coins.

She told me to go to another shop to change my 5-cent coins before coming back to buy the newspaper.

What kind of rule is that? Aren't 5-cent coins money too?

I was so angry that I asked the shopkeeper to return the money to me and told her that I'm not buying from her anymore.

What is the policy regarding 5-cent coins in Singapore?
- Tan Wei Tat

the above is taken from newpaper...

hmmmm

5 cents not money meh? by law, we are allowed to use up to 40 5 cents coins at a time for buying things unless the shop stated clearly that they dun accept...

hmmmm then how about my one big bottle of 5 cents and 1 cents coins? hmmmmmmm

But I found the following....

Under the Currency Act, retailers must accept payment in any denomination within the legal tender limits. For 5-cent coins, the legal tender limit is $2.

If retailers do not wish to accept a particular denomination of currency notes or coins, they should display notices prominently at their premises. This is stated in the Currency Act.

so the stall holder is not at fault loh....

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