Limits On Coins Constituting Legal Tender
According to the Reserve Bank Act 1989, there are limits on the amount that constitutes legal tender:
- coins of a denomination of $10 or more, there is no limit
- coins of a denomination of $1 or more but less than $10, the limit is $100
- coins of the denomination of 5 cents or more, but less than $1, the limit is $5
Read more about this topic: Coins Of The New Zealand Dollar
Famous quotes containing the words limits, coins, constituting, legal and/or tender:
“Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain liberal values, but within limits that are now being pressed and must be overcome. It is not a fit system for the mid- twentieth century.”
—Noam Chomsky (b. 1928)
“No Time, spoke the clocks, no God, rang the bells,
I drew the white sheet over the islands
And the coins on my eyelids sang like shells.”
—Dylan Thomas (1914–1953)
“The powers of the federal government ... result from the compact to which the states are parties, [and are] limited by the plain sense and intention of the instrument constituting that compact.”
—James Madison (1751–1836)
“The disfranchisement of a single legal elector by fraud or intimidation is a crime too grave to be regarded lightly.”
—Benjamin Harrison (1833–1901)
“And that is ... how they are. So terribly physically all over one another. They pour themselves one over the other like so much melted butter over parsnips. They catch each other under the chin, with a tender caress of the hand, and they smile with sunny melting tenderness into each other’s face.”
—D.H. (David Herbert)