This Guy Paid for a Car With Coins and It Went Viral [VIDEO] - Gainesville Coins News
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This Guy Paid for a Car With Coins and It Went Viral [VIDEO]

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This Guy Paid for a Car With Coins and It Went Viral [VIDEO]

Thanks to inflation, it's increasingly uncommon for people to pay for anything with coins.

Perhaps when it's just a bag of chips or a stick of gum, you may see someone pay with a handful of coins.

But what about this: a Chinese businessman bought a BMW—yes, an automobile!—entirely in coins.

The bizarre story quickly made the rounds across the web. It's hard to believe—but, don't worry, there's video evidence.

https://www.youtube.com/watch?v=fDx4GilS88U

The $11,000 down payment for the car (which equals roughly 70,000 Chinese yuan) was made in spare change!

All of the coins were 5-mao coins, a denomination unit that is a fraction of the yuan (or renminbi, as the currency is also known). This created quite a lot of work for the employees at the car dealership!

Believe it or not, a very similar story occurred in China in 2015. In that instance, the purchase of a car was made only with 1-yuan coins. You can find a video of it here.

In most countries, legal tender laws don't compel a store owner or the proprietor of a business to necessarily accept any and every form of cash payment. Consider the example of gas stations often not accepting bills larger than $20 because they can't make change. This is perfectly within their legal rights.

However, there have been cases in the West where someone chooses to make a large purchase (or, more often, pay a government fine) entirely in nickels or pennies as an act of defiance or insubordination.

This time, it seems the strange payment was strictly business.

 

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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