Are postage stamps still legal tender in Australia?

Are postage stamps still legal tender in Australia?

David Brent: In fact, a postage stamp is legal tender. A bus driver would have to accept that as currency.

Are postage stamps still legal tender?

The Royal Mail confirms that postage stamps are not legal tender. While you are free to accept stamps as payment for a service or goods, there is no legal obligation for you to accept them when offered and you have no legal recourse if payment in stamps is refused!

What is considered legal tender in Australia?

1959 ). A payment of coins is a legal tender throughout Australia if it is made in Australian coins, but this is subject to some restrictions about how much can be paid in coin.

What is acceptable as legal tender?

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes and dues. Foreign gold or silver coins are not legal tender for debts.

Can I exchange postage stamps for cash?

Most retailers (including the Post Office) won’t allow the return of postage stamps for a cash refund, and typically only offer exchanges. Instead, you can use a postage buying service to get a cash refund for your stamps.

Can you spend stamps?

The answer is no, stamps are not legal tender. Only notes and coins issued by the Royal Mint are legal tender. However, stamps do have a value.

Do shops have to accept stamps?

So, About Stamps! However, stamps do have a value. Therefore, you can use them to settle transactions. But we’re back to square one, and that binding law: no retailer is obliged to accept your offer – which in this case would be stamps to the value of the item in question.

Is 1c legal tender in Australia?

Yes, 1c and 2c pieces are still Australian legal tender, but they are not considered as ‘currency’ (or, money that is officially released for circulation). This means that you can take your old 1c and 2c coins to the bank and exchange them for currency totalling the same face value.

Is defaced money still legal tender?

Currency Procedures Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if: More than 50% of a note identifiable as United States currency is present.

Can shops legally refuse cash?

According to the Money Saving Expert, shops are legally allowed to refuse cash payment for items as long as they are not discriminating against the customer.

Is 50p legal tender?

Coins of All Denominations are Legal Tender – RBI It is clarified for the benefit of public that all coins including 25 paise and 50 paise coins are legal tender and will continue to be so. Reluctance on the part of anyone to accept the coins, is, therefore, not correct.

Are old unused stamps worth anything?

Nearly all unused U.S. stamps issued after 1930 are worth face value. While 1930 is nearly 100 years ago, stamps issued after this date are considered to be modern in the stamp collecting and stamp dealing community.