But damn I hate it. To the point that I get all worried whenever I have a $100 or $50 on me.
I am hesitant on where I pull it out to spend it, I agonize over who will take it and I also fret over who and where I can 'break' a $100.
And to top it all off, what if it is fake, and I get 'fingered' for it.
There are a lot of stores that won't take 100$ bills anymore because the 100$ is the most counterfeited of our bills (although some places just because their average transaction is less than 20$ and breaking 100$ bills can be a nightmare) if you have to do it more than a few times a day).
Most places in the former situation will take the shiny new 100$ bills, but it's annoying either way.
I had occasion to check this out with the federal government about four or five months ago. While their policy is that they "encourage merchants to accept all currency", they admit that anyone has the right to refuse to accept it if they are concerned about the bills authenticity.
Bottom line, carry lots of new twenties (old are falling out of favour as well) or use your debit card.
I love this type of question - sends me on a hunt and helps keep the old gray matter churning.
This is a quote from the Bank of Canada site:
What is "legal tender"?
A "tender" is an offer of payment of a debt. In Canada, legal tender consists of coins issued by the Royal Canadian Mint and bank notes issued by the Bank of Canada.
This does not mean that a merchant is obliged to accept bank notes. The method of payment can be whatever is mutually acceptable to both parties — cash, credit card, cheque, etc. Thus, a merchant may refuse to accept bank notes in payment for goods or services, without contravening the law.
And this is a quote from Wikipedia:
In some jurisdictions legal tender can be refused as payment if no debt exists yet. Consequently vending machines and transport staff do not have to accept the largest denomination of banknote for a single bus fare or bar of chocolate, and even shopkeepers can reject large banknotes. However, restaurants that do not collect money until after a meal is served would have to accept that legal tender for payment of the debt incurred in purchasing the meal.
The right, in many jurisdictions, of a trader to refuse to do business with any person means a purchaser cannot demand to make a purchase, and so declaring a legal tender other than for debts would not be effective.
So the way I read it, if you .......use imagination here........ and then tried to pay with your $100 bill they would have to take it because a debt would have been established; because you were being civilized and just wanted to take the kitty litter home, they were simply refusing to do business with you which is their right.