.No, there is no law that says a merchant must take any particular kind of currency, said Michael White, spokesman for the U.S. Mint. Businesses are free to set their own guidelines as to what they accept as payment, he said..
Eric Holcomb writes:
Well, apparently eBay must have read the quote above, because they.ve announced that sellers will only be able to accept certain electronic forms of payment (with the corresponding fees and possibility of claims) beginning at the end of October.
I feel that this will have a negative impact on numismatic sales on eBay. There are still many buyers who prefer to use checks and money orders. Perhaps they.re near their credit limit, or perhaps it.s true that they.re trying to hide their purchases, but this is not something that eBay should pass judgment on and restrict people.s freedom of choice in payment methods.
At a minimum, it will increase my expenses as a seller and force me to charge higher fees to my consignors. I also suspect that some smaller sellers will simply .drop out,. result in a less interesting variety of collectible items for purchase on eBay.
What do other readers think of this policy change?
Wayne Homren, Editor
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