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 Replies: 19 / Views: 2,329 |
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New Member
United States
8 Posts |
The last roll of cents I got from the bank had five Canadian cents out of fifty total.
Hint.
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Pillar of the Community
 United States
4870 Posts |
The last $25 box of cents I got from my bank had 88 canadian cents.
David
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Rest in Peace
United States
2684 Posts |
I have an informal second home in Labrador, so I travel to Canada often. Current exchange rate as of COB today is 80.8407 US cents per CDN $ or $1.2363 CDN per US $. Regarding exchange of Canadian money, there are several things I've learned. First, do NOT try to exchange it at any local U.S. bank; they will not give you the current exchange rate (one bank gave me less than 50% of the then-current exchange rate) and most will charge additional for the transaction. Second, the best exchange rates will be found at the border crossings at the exchange pavilions; this is true going either way. Third, don't even THINK of trying to spend the Canadian money at a US store, gas station, bar, or any other retail establishment; they will give you less than 50 cents on the US dollar. Fourth, there are a few service-oriented banks in Canada which will give you the current exchange rate with no service charge; one is the Bank of Nova Scotia in Churchill Falls, LB (if you happen to be headed up there). And fifth, I've found it to be more expedient and financially advantageous to hang onto any Canadian money I bring back with me since the value of the CDN dollar against the US dollar has generally been increasing over the past few years. Then again, I suppose you can do what everybody else in border states do: mix the Canadian coins in with the US coins, roll them, then spend them.  |
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Pillar of the Community
United States
867 Posts |
To save yourself some trouble, call your bank first to see if they even accept any Canadian. We don't take it at all, and we have to unwrap rolled coin that comes in so no one can hide it in a roll. We've had some trouble in the past with people trying to turn in wrapped coin that turned out to be almost all Canadian. Some of the larger banks might be able to exchange it, but the smaller ones (like mine) probably can't.
Rachel [:p]
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Pillar of the Community
United States
4870 Posts |
Like I said, everyone in Michigan gets these daily in their change. Very common and accepted. I've spent canadian change here with no problems at all. I open up coin rolls at work and you'd be surprised at how many canadian coins are in there.
David
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Pillar of the Community
United States
1151 Posts |
David, You have three options: First mix them in with US coins and take them to the bank, happens all the time and I have never had any problems. Second, take a trip up to the Soo and exchange them at the visitor center. Third, while in the Soo, go to the casino's, win, and then exchange for even more money !!! Larry |
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Rest in Peace
United States
2684 Posts |
One other item to consider if you haven't already: check the dates. I think there's some Canadian coin collectors on the forum. You never can tell...
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Pillar of the Community
United States
4870 Posts |
The thing is I will loose money if I exchange them as I got these for face value as if they were US coins. I am going to just mix them into rolls. I think thats the only way I can get face value. David |
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Pillar of the Community
United States
2272 Posts |
Few banks accept foreign coin at any price. It is prohibitively
expensive to mail coin to Canada because of high international postal
rates. Your best bet is to ship the dimes and larger coin to advertisers
in World Coin News. If you're patient you can get 90% of face and have
to pay postage to Buffalo or some other border city. It's very easy to
get 80% of face. Remember though face is 81c US per $1 Canadian.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
4870 Posts |
People spend all canadian coins here in Michigan except the 1 and 2 dollar coins. Nobody ever gives it a second thought. I spend them at face and I save them from pocket change. I have never had a cashier or heard of one rejecting a canadian coin.
David
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Pillar of the Community
United States
1203 Posts |
quote:
Originally posted by nds76
I have a number of canadian coins I have pulled from circulation over the years. Do you think I will have any trouble taking them to my bank? I know they're worth less, however, I got all these in change for US face. What do you think?
David
quote:
Originally posted by nds76
People spend all canadian coins here in Michigan except the 1 and 2 dollar coins. Nobody ever gives it a second thought. I spend them at face and I save them from pocket change. I have never had a cashier or heard of one rejecting a canadian coin.
David
If what you say is true, then I guess I don't understand your problem! Would you care to share the secret¿ Edited by OldDan
06/16/2005 12:38 pm
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Pillar of the Community
United States
7123 Posts |
Maybe the best way to do this is for you in the future to not accept canadian coins in your change !!! you are not required to !! all the shop keepers and stores are doing is passing their loss on to you.
I refuse to take them even here, as well as mexican coins ,,,
Rick
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Valued Member
United States
146 Posts |
This is possible along the border
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Rest in Peace
United States
3730 Posts |
Boy, I wish I lived closer to some of you guys. You wouldn't have to worry about turning your Canadian coins into the bank. I see maybe one or two a year here in Colorado, and I love to collect Canadian coins! I only wish I saw the number of Canadian coins that you who live along the border see. I'm envious.
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Pillar of the Community
United States
1541 Posts |
I bought a roll of pennies from the bank and found a 1985 canadian cent in it. So I guess it does pass thru sometimes.
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Replies: 19 / Views: 2,329 |
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First Page
Posted 06/15/2005 7:17 pm
