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 Replies: 8 / Views: 1,524 |
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Valued Member
United States
140 Posts |
Went down to my local antique shop and was glancing at their coin section. Nothing too spectacular that caught my eye. I saw they had a foreign coin section and they had a couple different plastic sheets full of various foreign coins. On one sheet they priced each coin at 50 cents and I saw a candandian dollar. I thought to myself that's not a bad deal.
I ended buying the whole sheet of coins, 20 in total for $10. Once I got home I started looking at each one figuring what country and denomination. I determined that there was no silver which is what I was really hoping for.
I did notice I had three 1 Swiss francs and a 5 Swiss franc. If my research is right the Swiss franc is a little less than the American dollar right now. Which puts my 8 francs at over $8 which I paid $2 for the four coins.
My question can I turn these in at any bank? Or would I have better luck trying to sell on the web? Thoughts?
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Moderator
 Australia
16867 Posts |
Here's a recent thread on the same subject. But basically, no, nobody who deals in foreign exchange accepts or deals in coins. ebay and coin dealers are your best bets for getting near-face-value for them. Unless you know a friend or relative that's going to those countries sometime soon, who will buy them off you.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
292 Posts |
No ideas for you, but just to note that some banks here won't even take loose US coins in deposit. My wife tried to deposit the funds from a recent club sale, which included $7.48 in coin, and was told "we don't take loose coins." (This is Wells Fargo where the club account is.) After a few words from my wife (a retired banker) this teller did agree to take the loose coins. Unbelievable. |
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Pillar of the Community
United States
797 Posts |
My local shop buys Canadian coins for 50% face. Just because they have a guy who buys them all once a year at 75% face. He then has to roll them and take them to Canada to deposit at(I think) 93% face, and they HAVE to be rolled. Its not easy to sell Circulating Foriegn for US
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Pillar of the Community
United States
567 Posts |
I'll buy modern foriegn coins in bulk. It's just not worth buying them in small quantities unless it is a face to face transaction. The margin on modern foriegn coins is miniscule and is easily eaten up by transaction costs (postage, listing, etc.) and the loss is compounded when I have boxes upon boxes of them (both loose and identified) sitting in my office. I have coins I bought 20 years ago still sitting in boxes with little hope of individual sale. I'll probably end up donating them to YN's eventually.
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Valued Member
Finland
294 Posts |
Here's one bank called Forex which takes also bigger foreign coins like Thailand 10 bahts, Swiss 2 and 5 franks etc. They even pay the same rate as for banknotes. The bad thing is that I suppose the company have branches only in Europe.
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New Member
United Kingdom
35 Posts |
There a few companies in England that deal with coin currency so I am sure there must be similar companies in the US. We have Coin Co International, Travelex, Cash4Coins, Easycoin and so on. I think the first 2 may have North American branches but not sure. An internet search should throw something up. If not ebay them as they sell for near face value less postage here for major currencies. As jcmworld says you need a lot or any return is quickly eaten up by the shipping costs as they need to be returned to the home country to be redeemed. |
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Pillar of the Community
United States
1424 Posts |
Commonwealth Coin & Currency
PO Box 16242
Ludlow, KY 41016
304-382-4101
Complete Coin & Banknote Exchange Service!
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Pillar of the Community
Germany
1238 Posts |
Quote:
I did notice I had three 1 Swiss francs and a 5 Swiss franc. If my research is right the Swiss franc is a little less than the American dollar right now. Which puts my 8 francs at over $8 which I paid $2 for the four coins. 8 Swiss francs is about 8.50 US dollars. Problem is that, as the others have said, it won't be easy to find a place that changes coins. Also, keep in mind that the 5 CHF coins dated 1985-1993 are not legal tender any more; you would have to take them to the SNB (Swiss central bank). Christian |
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Replies: 8 / Views: 1,524 |
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Posted 03/21/2013 11:09 pm
