What options are there to "cash-in" Canadian coins in the U.S. ?

DBSTrader2

I have long collected Canadian coins, mostly from circulation, and more recently some from rolls from trading partners to keep current filling holes in our Whitman folders.

In some cases, we have started more sets than we really need or wish to continue, and have some Canadians to "liquidate" and use for more pressing needs.

Besides the odd coin that someone on the Darkside BST Forum or someone on eBay might want, is there a ready market or relatively easier way for people who do not live near the border to convert all the extras we have (cents thru Twoonies) into U.S. cash here in the states that doesn't require a lot of work and/or postage or hand-holding?

Maybe 30 or 40 years ago, there were some banks in downtown Philly which exchanged both U.S. coin & currency for Canadian (and vice-versa) at the exchange rate, but all I've seen or heard of since then have been banks or Thomas Cook/Amex kiosks downtown or in airports which convert only currency (and include additional fees on top of unfavorable exchange rates), or maybe a place like AAA which puts together little "tip-bags" of change as well (also at a premium).

Does anyone know of any other way I could easily convert our extra Canadian change to U.S. $ in the Philly area?

Thanks in advance!

-- Dave

syl

When I lived in the US and had Canadian money, all Federal Reserve Banks were required to exchange it to US funds .. but it must be a Federal reserve Bank .. most banks won't.

ajaan

Cashing in coins isn't very easy. Is their a casino near you? You might want to ask them. Casinos usually give very good exchange rates.

lordmarcovan

I thought of dumping my few pounds of Canadian cents in the Coinstar machine (along with my ten pounds of pennies and three rolls of crap Wheaties I dumped the other day), but didn't, 'cause I figured surely the machine has a way of rejecting those.

ajaan

I don't know if the machine would reject Canadian cents. Those I just roll up with US cents and take them to the bank. No problem with cents.

SaorAlba

The only Canadian cents that reject from coin counting machines are those minted after 2004 when they started making them with copper plated steel. But as with the five cent coins, some of the post 2004 dated coins are still being struck on the copper plated zinc as late as 2009 for the cents and 2006 for the five cents. Any Canadian 1 cent coin dated between 1920 and 2003 should be accepted by the machine as the weights are within the tolerances for the US cents. The only Canadian five cent coins that work in the American based coin counters are the ones made between 1982 - 2004, but some 2005 and 2006 coins also were struck on cupro-nickel blanks.

The only other coins I know go through the coin counters at my one bank are the silver 10 cent coins made before 1969, as I find them occasionally when I search dimes.

Otherwise with all the steel or magnetized nickel coins from Canada - I just accumulate them in a bag and give them to my mother in law, she is originally from Canada and goes back pretty frequently.

YQQ

does not appear to be an easy way... unless you have real collectors coins.
on the other side, rumor has it that the Can $$ will be worth more than 1.10 US still this year...
problem is still shipping them somewhere... to at least break even.
h

1960NYGiants

I go up to Canada just about every summer and haul my loose change with me. I've got about $200 face to bring with me next trip.

How much $ in face do you have?

NumisMe

Won't American Express Travel Services exchange foreign currency and coins. Just go to an International Airport. I'm pretty sure they will.











edited for typing again...geez

Mockingjay

<< <i>does not appear to be an easy way... unless you have real collectors coins.
on the other side, rumor has it that the Can $$ will be worth more than 1.10 US still this year...
problem is still shipping them somewhere... to at least break even.
h >>



I remember in the late 1990's that a CDN $1 was worth about .66 USD. Now they are pretty much on par. A 50% increase in their value over the period.

DBSTrader2

At one point, I had heard that either Loonies or Nickels or both worked well in vending machines & the parking meters at the local train station. But back then, Canadians were worth so much less than U.S. that it was like making a "big score" by substituting the coins for U.S. Exchange rates are much closer to on a par right now, plus I haven't had to take the train downtown for several years now to try that out....

When my son traveled abroad with People-to-People several years ago, I stopped in at an AMEX or Thomas Cook travel exchange downtown in Philly to either get him some currency or convert back to US some odds 'n' ends currency he had left over. At the time, they only dealt with currency vs coin, and they really hit you on the exchange rate & fees.

I believe I also stopped in at AAA to pick him up a "tip pack" or two before he left, but it was either coin & bills or just one or the other, but they did not handle people wanting to trade IN any change.

I'll have to explore the Federal Reserve Banks in Philly to see if they do in fact handle coins & what's involved, but for me, that's a trip on the train both ways and a long walk lugging any coins.... not something I'd look forward to in the shape I'm in right now (as round as the Loonies & Twonies I'd be trading in.....).





Gene:

As far as how much I might have to cash in, part of it depends on how convenient/expensive the process might be. I have some odds 'n' ends out of change & collecting all these years, plus extras I've put in 2x2's in binders that I'm re-considering the purpose of their being there (at the time, was an extension of my "1-per-type-per-country" extended collection). Then there's the cases of quarters, Loonies, & Twonies we have almost complete sets of, which are in excess of what we "need", as I reconsider everything. In several cases, we've maintained 3+ sets of each.. 1 for me & 1 for each son. As the number of coins each year have proliferated & many are essentially NCLT's, it's getting expensive to keep up all those sets. I've been re-thinking consolidating into just 2 sets overall (1 each kid), since what will I need MY set for when I'm gone anyway? That's where we might have several almost complete sets available to cash in..... if I decide not to go thru the process of trying to sell/trade those sets. The problem is I'm not good at figuring what they'd be worth, as that was never my intent in originally collecting them. So I don't have handy what I'm into in gathering those sets, nor do I have them graded/slabbed/etc.......... As a result, I haven't had much luck selling extras when asked to suggest an asking price......


- - Dave