I don't think my definition of legal tender is at odds with Treasury, I really don't.
What is at issue here is "private business" and "payment for goods and services." Is the power company (in this instance) a public utility? I'm unclear on that. Second, what is the arrangement i.e. pre-existing contract - would the power company be amenable to taking cash, or is it only pennies that creates an issue?
I never said it was...you were wrong in your contention that everyone must use cash and coins.
What is at issue here is "private business" and "payment for goods and services." Is the power company (in this instance) a public utility? I'm unclear on that. Second, what is the arrangement i.e. pre-existing contract - would the power company be amenable to taking cash, or is it only pennies that creates an issue?
The utility is a private company. They may or may not accept cash payments in the form of currency and reasonable amounts of coins at office locations - whether they do or not is a business decision that they are free to make...and they are clearly not obligated in any way to take $500+ in pennies.
Thanks for pointing that out. A power company is most likely not a private company and unless they made it very clear that they will not take coinage as payment I would say they are obligated to do so. Anyone advocating otherwise is doing some wrong thinking.
Let us say for instance that my electric bill for Feb, 2007 was $96.29 cents. I go to their local office to pay it in person. By the "they are not obligated to take pennies" logic that would mean that I would have to hand over to them $97.00 and they would give me back 71 cents. That is ridiculous thinking. Now logically I could hand them 96 one (1) dollar bills, 2 dimes, a nickel and 4 pennies. Do you think they would accept that payment? Of course they would. Now, since they will accept 2 dimes, a nickel and 4 pennies from me I suggest that unless they published to each customer that they would not take coinage over a certain amount, they would be discriminating against this customer by not accepting his 56,000+ pennies.
If the customer had been wise, he would not have stirred up this controversy in the first place because it is not going to gain him a thing other than having a lot of people think he is some kind of NUT! His electric bill will not get smaller because of it. If the electric company is wise they will accept his payment in pennies and treat them as any other deposit at their bank and let the whole matter drop where it is at. Being complicit in giving a NUT publicity is not wise and not good policy on the part of the electric company.