Have you ever got into a situation where a vendor from the coffee shop refusing 5 cent coins?
Although 5-cent coins are considered legal tender many vendors still refuse to accept the coins. The main reason why many shops refuse to 5-cent coins is possibly it is hard to count, receiving or paying with the 5-cent denomination is considered a hassle.
In 2019, a bill was set in motion, buyers paying can use a maximum of 20 pieces of each denomination for each type of coins(5-cents, 10-cents, 20-cents, 50-cents, 1-dollar)
20 Coins X S$0.05 = S$1.00
Meaning you can still pay S$1 worth of 5 cent coins.
However, vendors can legally refuse any 5-cent coins if…
According to Monetary Authority of Singapore(MAS), As long as the vendor puts up a signboard that states that the shop does not accept 5-cent coins, the vendor has every right to reject the 5-cent coins as payment.
If the vendor did not put up such a signboard, the vendor must accept the 5-cent coins
Some customers make a big fuss when they are refused and tried to report the vendor to the media, as long as the vendor has the signboard they still win.