PRC towkay pays $200,000 in $1 notes

[David]

I was surprised that the bills were so crisp and clean. The hotel can count themselves lucky in this sense.

 

On hindsight, having incurred such a huge amount, the hotel mgt could have worked out a better way in settling the bill.

Edited September 11, 2010 by David

[Ken4555]

  On 9/11/2010 at 6:20 AM, SimonTan said:

it will not work in Singapore.

The hotel manager will ask the rich man to wait. And then ask the toilet cleaner ah-peh to count the money to make sure it's correct! That will takes all night for the ah-peh to count and the richan have to wait.

 

So u see, rich man try to act smart, the singaporan manager also not stupid!

 

the richman can get one of his body guards or servants to wait lah... the coal bosses in China are filthy rich... saw one of the weddings got sooooo many super cars... like 20-30plus... excluding the expensive luxury cars...

[Simplesilver]

  On 9/11/2010 at 6:40 AM, Alpha78 said:

Why we stopped using 1 cent? One word -> inflation.

 

The cost of producing the 1 cent coin exceeded the face value, that's the official reason.

 

It probably won't be too long before we phase out 5 cents too.

 

Yes. No more small golden coins!

[The_Bear]

  Icedbs said:

actually the way to prevent this is to set how much $$ can be paid by $1.

 

 

From the currency act, Chapter 69 (wonder which genius came up with the Chapter Number )

 

(2) Currency notes issued by the Authority, if the notes have not been illegally dealt with, shall be legal tender up to their face value for the payment of any amount.

[3/91;25/2002]

 

(3) Coins issued by the Authority, if the coins have not been illegally dealt with, shall be legal tender up to their face value in Singapore as follows:

 

(a) in the case of coins of a denomination exceeding 50 cents

Edited September 11, 2010 by Bavarian

[Ysc3]

  On 9/11/2010 at 4:40 AM, Ken4555 said:

really??? i didnt know that... i remember a guy who was pissed with a bus driver and one day he waited for the same bus driver and paid $1.20 bus fare in 5cents and 1cent coins.... haha

 

then this guy is a sinner.

 

the bus driver got nothing to lose ...he is just a worker on a clock.

 

its the rest of the paxs that had to wait for the guy are all innocent collateral damage.

[Vroomtattat]

This incident was brought up to our attention by my colleague from China ages ago.

 

So it is true.

[Nullifi3d]

  On 9/11/2010 at 4:50 AM, Icedbs said:

actually the way to prevent this is to set how much $$ can be paid by $1.

 

 

From the currency act, Chapter 69 (wonder which genius came up with the Chapter Number )

 

(2) Currency notes issued by the Authority, if the notes have not been illegally dealt with, shall be legal tender up to their face value for the payment of any amount.

[3/91;25/2002]

 

(3) Coins issued by the Authority, if the coins have not been illegally dealt with, shall be legal tender up to their face value in Singapore as follows:

 

(a) in the case of coins of a denomination exceeding 50 cents

[5936]

This PRC towkay boleh

[Shull]

  On 9/11/2010 at 11:46 AM, Nullifi3d said:

use to work as a cashier so i;ll try the laymen' explanation -

 

 

Wanna use anything less than $0.50 to pay (e.g. 1 cent, 5 cent, 10 cen or 20 cen coins) - maximum purchase price is $2.

 

Wanna use $0.50 cent coins - maximum purchase price $10.00.

 

Wana use anyting above $0.50 cent coins (e.g. 1 dollor coin and above) - no limit on purchase price.

 

sweee..anyone wanna buy a lambo/ferrari with $1 coins?

[Yattokame]

I remember something like this happened in singapore too

 

IIRC, when Karsono Kwee was to pay VW group something in the range of a million, he actually paid them all in $2 bills.

[Kenneve888]

  On 9/11/2010 at 4:41 AM, Ken4555 said:

it was a hotel.... not a bank...

 

but i guess they could have borrowed one....

 

I think it is about whether the notes are genuine or otherwise that humans are required to count them physically. After that, maybe the machine will be used to confirm the amount.