The E-Sylum:  Volume 10, Number 18, May 6, 2007, Article 25

PESO PAYMENTS AND LEGAL TENDER LAWS IN THE U.S.

Tim L. Shuck of Ames, IA writes: "Every time I see an article about
this Dallas, TX, restaurant accepting pesos it reminds me of a question
I've had, as yet unanswered. I thought that legal tender status of foreign
coins was removed in 1857. But since this is and has been happening, I
assume that there is more to this issue than I understand. Can you or
other E-Sylum readers clarify why or how pesos can be accepted as
legitimate payment for transactions in the U.S. in 2007? Thanks."

 PIZZA PATRÓN'S PESO POLICY PAYS
 esylum_v10n17a21.html

[Our wiser E-Sylum colleagues will correct me if needed I'm sure, but
I believe legal tender status means that citizens are compelled to accept
legal tender in transactions, subject to the limitations of the law.
Removing legal tender status merely makes acceptance optional.  Before
1857 citizens were compelled to accept foreign coins in payment; after
1857 there was no such requirement.  So the acceptance today of pesos
(or any other country's money) is optional and quite legal between
consenting parties. -Editor]

  Wayne Homren, Editor

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