So I live about 20 miles from Canada. I was wondering if it is more lucrative to search Canadian cents or US? My guess is that the rate of return would be higher for Canadians, since they were copper until 1996, compared to 1982.
Your thoughts?
Also, are there any legal implications when it comes to bringing, say, $50-$100 in pennies or nickels back into the US? I think the law on "currency" is anything over $10k has to be declared, but are coins considered currency where Customs is concerned?
US or Canada?
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US or Canada?
by rexmerdinus » Fri Jan 14, 2011 12:57 pm
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Re: US or Canada?
by frugalcanuck » Fri Jan 14, 2011 3:23 pm
I would agree with better percentages in Canada. I remember reading that you couldnt bring more than $5.00 in American Coinage. I dont know of any Canadian rule or law. But Im not an expert in that area.
"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
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Re: US or Canada?
by fasTT » Fri Jan 14, 2011 7:29 pm
Canadian recovery rates are about 35%, compared to about 12% in the US.
There is no law (currently) on the export of Canadian coinage.
There is no law (currently) on the export of Canadian coinage.
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