Hunting US Coins In Canada Rolls: Fundraising For Youngsters

Hunting for US coin in Canadian coin rolls and change:

This was how I saved money as a kid, but today I see it's a bad way of making cash. The exchange rate was about 93 cents CAD to the USD back then and today it's approaching the same. Back then I would sometimes even buy currencies at the bank; my own little form of speculation and investment. Then the Euro kicked in and many currencies disappeared. The USD was a force back then, but today I'm not exactly sure.

Usually the rate bounces from 93-103 over the years. When it's at par it's okay to buy USD, not a lot - you're not going to make 10%. Save any US coin you find. When the rate starts going down to 97, watch it, and at 95 you'll know it's time to sell USD. The problem is the banks; they take too much of the cut that it eliminates the plausibility of doing this as a career.

For what it's worth, a kid could take advantage of this to fund their coin collecting. Stick to countries you know and have visited (so you know how their economies work). This little tip can maybe pay for your 2x2 flips, capsules, and any little thing that adds up over time. If you can save up $100 US you can sometimes make $105 on it. Watch the exchange rate over 1-2 years and you'll see how it behaves, and create your own little indexes like the price of candy, soda pop, bus fare, whatever you use in daily life. $5 is not a lot of money, but it's better than the pitiful 1% you get from a savings account over a one year term. Reinvest that $5 towards your hobby or more roll hunting.