| Author |
 Replies: 14 / Views: 12,523 |
|
|
Valued Member
Canada
55 Posts |
As you may know, here in Canada, we get USD coins very frequently, in our change, or while CRHing. I have accumulated quite a sum of them, they are all rolled and ready to go. Is there a bank where I deposit them in an USD account for USD? Doesn't matter which bank, I will open an account if I have to.
Thanks for your help,
Andrew
|
|
|
|
Valued Member
Canada
287 Posts |
I heard you can at RBC, but haven't tried it for myself, and I too have accumulated a few hundred bucks worth.
|
|
Pillar of the Community
 Canada
9864 Posts |
I tried. You can deposit US notes to you $US account, because there is a demand for them, they sell them every day. They will not accept deposit of US coins to a $US account because there is no demand for them,the bank would be stuck with them at a loss.So I was told at my RBC. "Dipping" is not considered cleaning...
-from PCGS website
|
|
Pillar of the Community
Canada
867 Posts |
Same with TD Bank, they are NOT going to take US change. Just trying depositing CDn change in a USA bank, and you'll probably get arrested.
|
|
Valued Member
United States
141 Posts |
If you have all your extra US coins already rolled you can open an account with Bank of America and deposit your rolls into the account. Some Bank of Americas might let you exchange your rolls for dollars but most likely you will need an account. Most TD banks have coin counting machine so they will not except rolls but if you open an account with them you can dump your US coins into the machine and than deposit the total amount of change into the account. |
|
Pillar of the Community
Canada
1747 Posts |
Being minutes from the USA border, I went and looked into opening an account, as a full Canadian citizen who did not serve in the US military, there is no free accounts. BoA and USA bank both Charge between $7 to $10 a month unless you have like $2K in your account. Also they give 0 interest rate on your account.
No luck credit unions either, you need to be US citizen to have an account there.
I have been able to buy coins from both, and I actually had a BoA account about 15 years ago, before they started charging.
|
|
Valued Member
Canada
372 Posts |
I would just try to find someone near me that goes to the US and sell him my rolls.Lot of snowbirds around.I would buy to help as I go every year and have a US bank account
|
|
Valued Member
Canada
496 Posts |
I had a US checking years ago . You could deposit coins if they were rolled. It worked really well at the time, you deposit coin take out cash without fees or write checks for ebay purchases. Then RBC started with the fees. |
|
Pillar of the Community
 Canada
5394 Posts |
Why on earth even bother, with the current exchange rate? A tremendous amount of work for 4 - 6 per cent before bank fees.
|
|
Pillar of the Community
Canada
3049 Posts |
 Either hold onto the coins until you go south of the 49 and just spend 'em or take 'em into the bank... Or... wait... the exchange rate bits on 'em right now.. but the dollar being what it is.. is not (in my opinon) about what Canada has done so well... but rather how poorly the U.S.. has handled their financials as of late... Things will turn around eventually.. the exchange rate will once again be in their favour... |
|
Pillar of the Community
Canada
1700 Posts |
The good thing, after all, is that the current exchange rate is quite good. When you have a large sum of American coins, you can get a few more Canadian dollars back in return.
|
|
Valued Member
Canada
115 Posts |
i have never been able to deposit the coins here... however, I just keep them and go in any banks in the states to exchange them to bills. then you can deposit them back home if you so wish.
usefull only if you go there fairly often or if you live close to the border though.
|
|
Pillar of the Community
United States
3640 Posts |
This is what you do. I do it here with canadian coins.
It may take a little while but throw in a couple of your u.s. coins
into your rolls. Then cash in your rolls.
|
|
Pillar of the Community
Canada
849 Posts |
I am three hours from Montana. My wife saved all the U.S. change for a year from my coin roll searches in Canada. She went down to the States with $90 in rolled coin. She goes into a bank in Montana to exchange for paper currency. They do that for her but they open every roll and put it through the coin sorter. It makes her wonder why she bothered to roll them.
|
|
Valued Member
Canada
448 Posts |
I recomend trying a currency exchange. They may or may not take it
|
| |
Replies: 14 / Views: 12,523 |
|
Posted 06/30/2014 11:32 pm
