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 Replies: 11 / Views: 2,063 |
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Pillar of the Community
United States
2637 Posts |
I don't know if this is the right place for this topic. I didn't see a better one. I have $393.50 Canadian -- 79 twonies, 137 loonies, 9 nickel dollars, 9 50 cent pieces, 330 quarters, and 15 dimes. I would like to ship it to a US address for 12 ounces of silver (Sprott is selling RCM 10 ounce bars for $310 Canadian, so there should be plenty of profit for the seller). I have fit these coins in a small priority mail flat rate box. Is this offer attractive to anyone? |
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Pillar of the Community
Canada
2781 Posts |
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Pillar of the Community
 Canada
5391 Posts |
Good luck , no one likes to handle that much coin any more .
Plenty of profit ? Highly doubtful .
When we do US coin shows US dealers sell us
Current CAD , £, €, ¥, and Aussie at 65 to 70 per cent .
Unless I am driving , a very hard pass .
Way too much work these days .
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Pillar of the Community
United States
2280 Posts |
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Pillar of the Community
United States
832 Posts |
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Pillar of the Community
 United States
2637 Posts |
Sent him $280 in coins (by his site's calculation) with list of coins and his values. Got $200 back.
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Pillar of the Community
United States
832 Posts |
Quote:
Sent him $280 in coins (by his site's calculation) with list of coins and his values. Got $200 back. @Arkie - that's not a bad rate for Canadian pocket change, and now you can buy some silver with the US$200... |
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Pillar of the Community
United States
2637 Posts |
1) It was not $280 Canadian. It was over 54,000 yen and nearly 200 euros. He said it was worth $280 US, and paid $200 US.
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Pillar of the Community
United States
832 Posts |
Quote:
I have $393.50 Canadian -- 79 twonies, 137 loonies, 9 nickel dollars, 9 50 cent pieces, 330 quarters, and 15 dimes. Oh, I thought you were cashing in C$393 so US$200 was a good exchange rate for that coinage... Did you have a lot of low-face-value Euro and Japan coins? Those are real hard to process. Nobody wants them and it takes a LOT of coins (volume/weight) to make it worth the while. For example, I know Canada stopped using the penny some years ago so those go straight to the bank and on to smelting. And some countries in the EuroZone stopped using 1p and 2p coins so there's a glut of those. And a few hundred of those pesky things get real heavy real quick and don't buy much anymore even in countries that do use them. I haven't been to Japan but I understand that coinage is unpopular so I imagine it's hard to move anything under 100 yens. PS: where did you acquire so much foreign coinage? What else do you have to sell or trade? PPS: might have to moe this thread to BST (Buy/Sell/Trade section) if you have anything else to sell or trade. |
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Pillar of the Community
Canada
5391 Posts |
54000 ¥ Is 407 USD
200 € is212 USD
I would say you got baked
if you were paid only 200 USD.
Edited by Pacificoin
12/27/2022 02:13 am
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Pillar of the Community
United States
7273 Posts |
I'm confused you asked about Canadian then throw in yen and euro. What do you collect barrels of change when you travel?
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Pillar of the Community
United States
832 Posts |
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What do you collect barrels of change when you travel? Not sure about @Arkie, but I buy a lot of bulk lots at auction. You never know what you're gonna get. Unfortunately, some sellers dump bags of low-face-value coins in the mix to increase the weight and bid prices. Not always, but sometimes. For example, last year I got a 40lb box and most of it was good, but the seller definetely dumped at least 10lbs of modern Chinese 1 yuan, Korea 10 won, etc etc. I was pulling them out by the handful. The coins have no collector value and very low face value. It's pure filler. So once a year I pack up all the filler like this and sell it to the guy in Georgia. It won't make me rich but it recovers some of my cost. Quote:
54000 ¥ Is 407 USD 200 € is212 USD I would say you got baked if you were paid only 200 USD. @Pacificoin No, not at all. We're not talking about banknotes here. Those are easy to sell. But ForEX offices don't accept coins, just banknotes... Right now I'm looking at Bank of America's ForEx rates right now for banknotes. They offer: ¥54000 = US$384 and €200 = US$202 But that's for banknotes. Now imagine you collect world coins, so you buy them in bulk at auction, then keep the ones you like for you collection. Afterward you're left with bags and boxes of filler like Euro 1 cent coins, or Brazil 1 centavo etc etc. Now what? You can try to re-sell them as bulk lots on the bay etc, but there's really no market for the low-value stuff. It takes a LOT of these coins to justify postage etc. And who wants to hop on a plane with 10lbs of UAE 25 fils coins on their next vacation? Nobody. Sure the face value adds up but how do you spend them? So who buys modern foreign coins in bulk? I know of two places: FCC in Georgia and LOC in London. I've sold bulk foreign coins to both places. Their rates are determined by supply and demand. British pound coins, Japan 500 yen coins, etc etc command a decent rate. But all the low-end stuff I mentioned, nobody wants them. It hurts, but better to get something than nothing. I can't say what @Arkie sold, I thought we were talking about Canadian coinage, but yeah, a lot of modern coins aren't worth the metal they're minted from! |
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Replies: 11 / Views: 2,063 |
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Posted 08/30/2022 01:32 am
