Modern Foreign Coins: What to do?

VTCoins · March 11, 2009 1:35AM

Hello everyone!

I have piles of modern foreign (non-numismatic) coins.

Where can I find info on what coins are able to be exchanged for U.S. dollars?

List of coins that are not exchangeable?

Who is a good person to send this material to?

Thanks!

ajaan · March 11, 2009 1:51AM

Many places don't like to exchange coins, only currency. Also, many places have a minimum amount which is difficult to reach with coins.

If some of the coins are Euros, a bank might take them. I know the local casino will exchange Euros, I've done it with notes only though.

If it's just common stuff, I usually pay $3.50/pound for the stuff as long as it is a good mixture and not all low face value stuff like Canadian cents.

ormandh · March 11, 2009 2:00AM

Good question. I know that banks will redeem notes for 8%, but I am not sure about coins. What countries do you have?

I have a question about the British one pound notes, are they redeemable any longer? My sister-in-law was in for a bit and I wanted her to send a package for me when she returned to the UK and

I tried to give her some notes as payment but she said that the notes were no longer legal tender. She did say the coins are, what gives there?

BillyKingsley · March 11, 2009 2:41AM

Put them in a jar/box/container on your counter and sell them by the pound or 5-10 cents per. That was the first place I looked in the one and only coin shop I've been in (So far). It was mostly empty but I still pulled out a dollar worth at a dime a pop.

spoon · March 11, 2009 3:13AM

Odds are you won't be able to exchange much. As mentioned, banks usually don't exchange coins unless in bulk - like $20 Canadian, not 75c Canadian, 50c Panama, etc.

Your best bet, if you've got a physical store, is to just dump them into a junk box and come up with a X per dollar price for them. Pull any that may be worth more or make different boxes - 10/$, 4/$, etc.

Or like ajaan said, sell them by the pound. But folks buying that generally want a decent mix, not a half pound of circ Canadian or German pfennigs.

Or get creative and find a school teacher or scout program or something that could use them for a project. Or bury them in your backyard and confuse the hell out of future metal detectorists

ajaan · March 11, 2009 3:22AM

<< Or bury them in your backyard and confuse the hell out of future metal detectorists >>

newbiecollector · March 11, 2009 3:31AM

I have never known of a bank that will exchange foreign coins. None

VTCoins · March 11, 2009 4:37AM

<< Put them in a jar/box/container on your counter and sell them by the pound or 5-10 cents per. That was the first place I looked in the one and only coin shop I've been in (So far). It was mostly empty but I still pulled out a dollar worth at a dime a pop. >>

I may eventually do this after I pull out the numismatic material and the foreign spending money.

I think there are dealers out there who buy the foreign coins that you can still spend at a discounted rate.

Doogy · March 11, 2009 4:53AM

follow these simple steps.............

call a friend or relative that has a big ole' covertible; think 70s Cadillac El Dorado type

rent a Henry VIII looking costume, complete with royal purple coat, ceremonial crown and tights.

publish the fact that you are crowning yourself on a certain date in your local newspaper

on said date and time, stand up in the back seat while your friend drives slowly along the main thoroughfare; throw handfuls of said coins to the assembled onlookers

arrive at town square for the formal coronation to become the King of Vermont

after ceremony, arrogantly toss more handfuls of said coins to your new subjects.

Rule in Peace

Blackhawk · March 11, 2009 5:01AM

I think that I remeber seeing an add at the back of Numismatic News at one time for someplace that would buy certain coins at 60-70% face value. Check there.

baddspellar · March 11, 2009 5:06AM

I don't believe any bank will accept them, but you can donate it to UNICEF's "Change for Good" program.
Link

You'll often see collection bins for this program at airport international terminals.

VTCoins · March 11, 2009 6:40AM

<< follow these simple steps.............

call a friend or relative that has a big ole' covertible; think 70s Cadillac El Dorado type

rent a Henry VIII looking costume, complete with royal purple coat, ceremonial crown and tights.

publish the fact that you are crowning yourself on a certain date in your local newspaper

on said date and time, stand up in the back seat while your friend drives slowly along the main thoroughfare; throw handfuls of said coins to the assembled onlookers

arrive at town square for the formal coronation to become the King of Vermont

after ceremony, arrogantly toss more handfuls of said coins to your new subjects.

Rule in Peace >>

Not sure if I would want to be King with the way the economy is going right now. The peasants would blame me and hold a revolt!

There is an actual Kingdom here in the wilds of Vermont. An active board member lives up there. Beautiful country!

Click here to read about the Northeast Kingdom

onejinx · March 11, 2009 11:55AM

I use to go camping up in the Northeast Kingdom back when i went to high school in Vermont. We use to go to a place on Little Averill lake. Just a few miles from the Canadian border.

cladking · March 11, 2009 3:22PM

<< I think that I remeber seeing an add at the back of Numismatic News at one time for someplace that would buy certain coins at 60-70% face value. Check there. >>

Yes.

World Coin News is even better and you can get up to 80% exchange
for some coins.

Don't forget older moderns in unc can be rare. A few are pretty tough
even in AU.

cladking · March 11, 2009 3:24PM

I can't recall his name but there was a guy in upper New York
state who paid pretty good for this stuff. He was in the Finger
Lakes region.

SaorAlba · March 11, 2009 9:30PM

I will buy Euros, but at maybe 75% of face, because they are otherwise an inconvenience, but I can spend them on my various trips through Vienna. Right now I have about 14 Euros in change that I am going to take back and spend.

olmanjon · March 12, 2009 5:31AM

I would be interested in that guy who lives in the Finger Lakes region. That is where I live and I have a large quanitity of English and Israeli coins that I would like to get rid of. If you remember his name please post it. Thanks,
Olmanjon

NitroCruiser · March 13, 2009 1:57AM

Put small groups of say a dozen so together (or by weight) and sell them on e-bay, you can probably get more than their worth. Some folks like grab bags.

element159 · March 15, 2009 4:24PM

Are any of these Dutch (pre-euro) coins? I would be interested in buying bulk lots of those.

VTCoins · March 18, 2009 6:58AM

<< Are any of these Dutch (pre-euro) coins? I would be interested in buying bulk lots of those. >>

I likely have many pounds of Dutch coins. I just need to find the time to sort them out!

MrEureka · March 18, 2009 10:07AM

I buy current British, Euro, Swiss, Danish, Swedish and Australian notes and coins. I pay 70-98%, depending on the quantity and breakdown of the deal.

MrEureka · March 18, 2009 10:08AM

Here's a useful link for converting the semi-obsolete coins of EU nations.

MrEureka · March 18, 2009 11:01AM

I have a question about the British one pound notes, are they redeemable any longer?

Even if you can't spend it, I believe all British paper can be exchanged for current paper at any British bank.

JZrarities · March 19, 2009 12:38AM

For the stuff that's not convertable,, here's what I did.

Grab a few handfuls and head to the local Park.

Bury them in the sand around the swings and other areas; leave a few on the surface.

I drove by that weekend and saw tons of kids digging in the sand having a Great Time.

(bet I hooked a couple of them into the hobby)

zeebob · March 19, 2009 9:08AM

<< For the stuff that's not convertable,, here's what I did.

Grab a few handfuls and head to the local Park.

Bury them in the sand around the swings and other areas; leave a few on the surface.

I drove by that weekend and saw tons of kids digging in the sand having a Great Time.

(bet I hooked a couple of them into the hobby) >>

I do the same thing!

Modern coins are worthless. When I travel, I try to leave them as tips or even just dump them in the street when I leave a country. But if I bring back a few, I leave them in playgrounds for kids to find.

The US Navy guys used to have collection points for bong bucks at ports of call. The collected monies were donated to some charitable cause or another. If you want, you can try and see if there is a USN collection point near you.

element159 · March 20, 2009 3:41PM

Something else I might be interested in a bunch of - the aluminum Japanese 1 yen coins.

Modern Foreign Coins: What to do?

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