Cross border profit? USA to CANADA

Feel free to post your economic, business and political news, reports, and predictions concerning the U.S., Canadian, and world economy here. Please keep threads and posts on-topic.

Cross border profit? USA to CANADA

Postby DTEJD1997 » Tue Feb 25, 2020 1:24 pm

Hey all:

I've got a Canadian friend who visits frequently in the USA. He lives maybe 10 minutes across the border, so it is VERY convenient for him. He also has many friends in the USA and will spend the weekend.

Every time he visits, he fills his gas tank, goes grocery shopping, and frequently goes shopping for clothes, household goods & such.

Recently, he learned that he is legally allowed to bring back 2 bottles of liquor with him. So he started buying what he likes to drink.

One of his neighbors learned of this and said he would pay him cost+$10 if he could bring back his favorite bottle of whiskey.

So now my friend is all excited and energized about bringing things back to Canada to profit off of. He is wracking his brain to figure out other things.

I suggested electronics (laptops, SSD and such), but he said he doesn't know much about that and is hesitant to do that.

Anybody ever do this? Anybody have any suggestions?
DTEJD1997
Penny Pincher Member
 
Posts: 172
Joined: Sun Nov 06, 2011 8:47 pm

Re: Cross border profit? USA to CANADA

Postby Changechecker » Tue Feb 25, 2020 6:12 pm

Used to bring Jack Daniel's to my cousin in Kitchener Canada. He had a standing request for it every time we visited. If your friend travels regularly he might consider offering to bring back these trinkets to friends or neighbors friends for a donation.
Changechecker
Penny Collector Member
 
Posts: 325
Joined: Thu Nov 17, 2016 8:21 pm

Re: Cross border profit? USA to CANADA

Postby NiBullionCu » Tue Feb 25, 2020 6:50 pm

Canadian coins and currency.

(Likewise he should look to buy USA coin/currency in Canada for a discount)
NiBullionCu
Penny Hoarding Member
 
Posts: 513
Joined: Mon Apr 23, 2007 3:00 pm

Re: Cross border profit? USA to CANADA

Postby fansubs_ca » Mon Apr 06, 2020 3:29 am

DTEJD1997 wrote:I suggested electronics (laptops, SSD and such), but he said he doesn't know much about that and is hesitant to do that.


In the 80s computer stuff was seriously cheaper in the U.S. than Canada, since then it
has actually leveled out. I actually had a friend tell me RAM was cheaper here because
Canada has a lower tarrif on the countries that make it than the U.S. does.
User avatar
fansubs_ca
Penny Hoarding Member
 
Posts: 711
Joined: Mon Jul 11, 2011 2:47 am
Location: Winterpeg, Manisnowba

Re: Cross border profit? USA to CANADA

Postby JadeDragon » Thu Apr 09, 2020 9:36 pm

You might be able to mine US coins out of the Canadian coin supply but around here they are surprisingly hard to find. I believe the coin handling companies pull them out along with any silver or old Ni coins. No idea where one might buy US coins or bills at a discount. Bills can be converted at any bank so why would anyone sell those for a discount?
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
User avatar
JadeDragon
Realcent Moderator
 
Posts: 5434
Joined: Mon May 19, 2008 3:00 pm
Location: Canada

Re: Cross border profit? USA to CANADA

Postby Recyclersteve » Thu Apr 09, 2020 10:56 pm

NiBullionCu wrote:Canadian coins and currency.

(Likewise he should look to buy USA coin/currency in Canada for a discount)


Agree with this. With COVID in the air there are plenty of people who'd love to get rid of their "worthless" foreign coins.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4584
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be


Return to Economic & Business News, Reports, and Predictions

Who is online

Users browsing this forum: No registered users and 6 guests