Redemming Canadian Coins At The Bank?

You could hang on to them and give them away to youngsters in your family- that's what I've been starting to do with mine.


Regards,
~neuron

I was going to say you had better conceal them as most banks will not take Canadian coins. Guess we all need to find a friend in Canada and send them back home?

The last roll of cents I got from the bank had five Canadian cents out of fifty total.

Hint.

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.

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

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...

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.

quote:

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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

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quote:

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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

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If what you say is true, then I guess I don't understand your problem! Would you care to share the secret¿