If your business conducts cash transactions, you've probably had to wait for countless customers to count out exact change to the very last penny. You may have even had plenty of customers pay an entire bill in loose change. While this can be annoying, most business owners would agree that getting paid in cash, coin, credit, or check, is still getting paid, and is still a good thing. There are, however, rare circumstances, like this attention-seeking grown man-child, where allowing a customer or debtor to pay in coinage just seems horribly inefficient.
Fortunately for private businesses, there is no federal law that mandates what type of currency a private business must accept. And according to one source, there are no states that have a blanket requirement that businesses must accept cash or coin. Just like a business can refuse to accept big bills, they can refuse coinage as well.