by Know Common Cents » Wed Jun 08, 2011 2:04 pm
When the USD and CDN exchange rates were wildly tipped in favor of the American buck, I used to purchase large quantities of CDN loose coins from a network of coin dealers. They'd take these in as part of collection buying and just let them pile up not quite knowing what to do with them. The dealers (at the time) were paying US $0.40 per dollar face and would sell them to me at US $0.50. I accumulated large quantities of the coins and made trips to Canada (Ontario) at least twice each year to cash them in.
Never had a problem turning them into a bank. Tellers were friendly and no hassle about being from the US. I learned right away that they wanted all of the coin rolled, so I was glad to accommodate. Only had a problem once at the border crossing into Canada as the customs people were freaked out by a trunkful of bank bags and rolled coins. I think I had over $1300 at that time. (You're allowed to bring across $10k without declaring it.) After 20 minutes or so I was released and went happily on my way.
When I didn't need the money, I took the value of the coins in CDN paper money and kept it in my safe. Still have a couple thousand CDN dollars in currency. Talk about a great investment, each $5, $10, etc., that I essentially paid half price for is now actually worth more than its USD counterpart.
As I'd acquire these treasure troves of coins, I was able to still find collectible ones, including some silver in spite of the dealers supposedly having gone through them carefully. That added to the excitement of the whole thing.
My suggestion is to take them to Canada and repatriate them. Empty coin rolls in various denominations can be purchased on line at a reasonable cost. I say go for it...or offer to me at a reasonable rate of exchange. LOL. I know my way there and what to do.
Included in the coins that I'd bring back were often a stack of old $1 and $2 notes. I kept most of the UNC ones for my collection, but the older ones were a hoot to spend there. Really helped me to add to my pure Cu and Ni stocks as easy pickings were the norm in the huge bags of loose change I'd buy.
"I don't know what I'm doin' but I'm sure havin' fun" Herman Munster
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)