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 Replies: 32 / Views: 4,467 |
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Valued Member
United States
117 Posts |
Stopped by the bank this morning and picked up 10 rolls of cents. I got the clear "Brinks" rolls and I find this when I get home:  Now I am as excited as the next guy to get some Canadian coins in my rolls but 8 in 10 rolls? Really? When you think about it, I lost 8 cents of my 5 dollars just buy getting these rolls. I am not a lawyer, but isn't it illegal for me to actually try and spend these? But the bank can hand them out as legal currency? What if every time you got 100 bucks out of your bank account 1 or 2 of those dollars were counterfeit? Is this any different? The amazing thing: I am in TEXAS! How much of this stuff do you think is floating around the U.S. economy? |
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Pillar of the Community
United States
628 Posts |
Here in Michigan, on the border with Canada, we see them all the time and spend them freely. Folks don't give it a second thought. I wonder how widely they are distributed in the U.S.?
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Valued Member
United States
185 Posts |
Here in NY is the same thing. I get them in change all the time. When I go and buy a coffee and need an extra penny to round off the order I hand them my canadian penny and off I go. It happens all the time.
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Valued Member
United States
397 Posts |
It's legal tender - just not here. I wouldn't think it was illegal to try and spend it, but I also don't think any vendor has to accept them from you. Some will, some won't. Then again, vendors could accept chickens and cows in payment - it's just barter after all. Since there is no intrinsic value to our fiat currency, we're really just living in a barter economy anyway. I trade little slips of paper with some ink for some good or service (that is, when I don't just use electronic cash with a credit or debit card).
Now, if you had opened the rolls in the bank - the bank would have replaced them for you. Since you took them home though, you're pretty much out of luck. As soon as you left the bank, you effectively accepted those rolls as a fair exchange for your dollars.
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Valued Member
United States
286 Posts |
ebm I would love to get Canadian coins in rolls I collect them as well as Lincoln cents.  I only get 3 or 4 per LMC box  |
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Valued Member
 United States
117 Posts |
m9frank: I wonder how widely they are distributed in the U.S.?
Well here is some fun with numbers. The US Mint estimates there are 140 billion pennies in circulation. If we took my sample and went with 1 in each 100 (mine averaged about 1 in 60 but whatever).....that would put 1.4 billion Canadian pennies in circulation in the USA.....about 14 million dollars.
WOW.
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Pillar of the Community
Canada
3692 Posts |
How do you think WE feel when we get American pennies?
We get lots of coins from the islands, too, which are worth less.
I can't believe you're complaining to get 98% copper in your change. You should be happy.
Edited by Libertad
12/13/2010 11:50 am
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Pillar of the Community
United States
3592 Posts |
Well...you can always save them,then exchange for US currency...you won't be out the face rate in any case. But for now, they are pretty much accepted freely,I wouldn't worry too much about it.
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Valued Member
United States
117 Posts |
Libertad: LOL. That is one way of looking at it. I stand corrected.
Everyone else: Thanks for letting me know that you can spend these freely. I think I will just keep putting them in my Misc Foreign Coins box, but it is good to know that if times get hard and I need that cup'o Joe, I can dig into the Canadian stuff.
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Valued Member
United States
368 Posts |
I live near the canadian border (like 25 minutes from it)
we get these all the time
in fact I am like 7 coins from having a complete set of canadian small cents from 1920-2010
I got coins from a member on here a while back, but have since replaced them by ones I have found
I am currently using 4 of the coins he sent me in my collection!
the only hoser coin its hard to pass by someone here is a quarter
the rest get passed around like crazy
Plus canada's economy hasn't dropped like ours in the past 5 years. I remember when the exchange rate was like
1.60 american to every canadian dollar
now it's about even, most banks here exchange at face
I like their money I have sets of dims nickels pennies and quarters lol
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Pillar of the Community
United States
4000 Posts |
I don't see them very often in Florida, but when I do, I collect them. They are also subject to errors and varieites as much as American coins.
I'd bet if one of those were a 1965 pointed 5 with large beads, you'd have a different take on it.
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Valued Member
United States
402 Posts |
I love getting them in my LMC boxes, down here on the coast of Texas I average about 3 a box. Got one of there 10 cent pieces from a guy at the coin counter Saturday morning, he thought it was a Mexican coin. |
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Valued Member
United States
117 Posts |
oldcoach: TAMU here, gotta be close to you. Try Wells Fargo that's where I got my rolls and usually I average 1 every 2 or three rolls.
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Bedrock of the Community
United States
12437 Posts |
Quote:
I lost 8 cents of my 5 dollars just buy getting these rolls.
You didn't lose anything, the exchange rate is on par  Quote:
The amazing thing: I am in TEXAS!
I would be more concerned with getting practically worthless Pesos down there(1:12.4 exchange rate)  There is nothing illegal about it so go ahead and spend 'em, I doubt if anyone will notice and if they do, just swap the Maple Leaf for a Memorial  |
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Pillar of the Community
United States
2224 Posts |
I am in Kentucky, and I have a complete set of Canadian cents from 1947 onward in a Whitman folder, minus most of the scarce varieties. All from going through bank rolls!
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Rest in Peace
United States
1729 Posts |
In Kansas, I occasionally receive Canadian pennies and dimes in change - NOT in bank rolls!
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Replies: 32 / Views: 4,467 |
Posted 12/13/2010 11:14 am
