Coin Payment Limits: What You Need to Know

How Much Can You Pay with Coins?

Have you ever wondered how much you can pay entirely with metal coins when making a purchase? Are shopkeepers obligated to accept payment in coins? Even with the euro, many Italians have maintained the habit of saving coins in piggy banks, only to find themselves with an unexpected treasure when they decide to open the container of coins.
In fact, coins like the 1 euro and 2 euro coins carry a significant value.

What to Do with the Accumulated Coins?

Once you open the piggy bank, what can you do with the accumulated treasure? The first thought is to go to the bank and deposit them into your current account, but what if the cashier refuses to spend time counting hundreds of coins? Alternatively, you could spend them when grocery shopping, but is it possible that the supermarket cashier might refuse to count the loose change, risking a long queue at the checkout?

Legal Provisions and Limits for Coin Payments

Let’s explore what the legislation says about payments with coins.
Cash is still legal tender and cannot be refused.
When taken to a post office or bank, coins will most likely be accepted or exchanged.
While the cashier might grimace or complain, not knowing which rule to invoke, in the end, they will count the loose change before accepting it, although this is not always the case.

In Italy, there is no specific law prohibiting the exchange or spending of coins, but there is a European regulation that sets precise limits, which many post offices and banks have adopted.

Article 11 of Regulation EC 974/1988 establishes that unless authorized by the issuing authority or individuals specified by the national legislation of the issuing Member State, no one is required to accept more than fifty metal coins in a single payment.

Using/Exchanging Coins

Therefore, while there is no outright ban, anyone can refuse a payment/deposit with more than 50 coins.
It ultimately depends on the receiver’s willingness to accept this form of cash.
If you find yourself with a large number of coins, some supermarkets have coin-changing machines that provide vouchers to be spent at the checkout.
Alternatively, you can take the coins to the Bank of Italy, where you can change them into banknotes free of charge.
However, there is a maximum limit of 500 coins for the exchange.

Another option is to find a trusted store that needs a lot of loose change for giving change and arrange with the merchant for the coin exchange.
Many shops, such as bars, tobacco shops, and newsstands, are always in need of loose change and would be happy to receive them in exchange.