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2old
Penny Pincher Member
188 Posts |
 Posted - 10/02/2009 : 15:08:29
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If you use the following assumptions:
1. The U.S dollar will buy $1.0843 Canadian dollars today.
2. The melt value of a 1909-1981 cent is worth $.0176074 today.
3. The melt value of a 1944-1977 cent is worth $.0186278 today.
If you buy Canadian cents with U.S currency. You may gain $25.91 on every $100.00 you sort using todays metal prices and conversion rates.
Based on info from: You must be logged in to see this link.
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 10/02/2009 : 15:31:11
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Guess that would work if you go into Canada quite a bit.
Problem is for those of us far from the Canadian border. By the time you would pay the conversion rate fee it probably would not be worth it. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/02/2009 : 15:48:02
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| I dunno. There should not be a conversion rate fee, or should there? Rydale is very close, I can see him bringing $10,000 loads across daily. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 10/02/2009 : 15:51:58
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Well I know if I went to the bank and either wanted to buy Candian money or sell Canadian money that there would be a conversion rate fee that the bank charges and then they probably would only give me Canadian bills.
I think that plan would only work if you lived on the Canadian border. Are there laws in Canada prohibiting exporting coins like there is in the US? I am not sure on that one. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 10/02/2009 : 17:46:27
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| But that plan would only work out well if you lived on the Canadian border, right? |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/02/2009 : 19:26:23
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| Banks are often not the best places to buy foreign currency. Foreign exchange places sometimes operate on a smaller spread (difference between buy and sell rates) than a bank. Even if there are no "fees" per se they have to buy at a lower rate than they sell for to make money. If you just buy at any old bank you may find yourself paying a fee on top of an unfavourable spread. |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/03/2009 : 08:21:56
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| I live three hours from Windsor and 60 minutes from Lake Erie ferry to Canada. I have been planning ferry trip for two years, but have not done it yet. I thought this to be more interesting, than useful information anyway. |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/03/2009 : 08:52:40
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| I'd like to do something similar with sorting halves in the states, but now you need a passport even to cross by land. I could use the passport anyway, but I don't think I'll buy any us dollars until I can get them at par or better again (sometime within the next year?) |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/03/2009 : 09:19:37
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| So, ya wanna swap halves for pennies? |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/03/2009 : 10:21:05
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This would work best if you are close to the boarder and can haul significant quantities across. There are a few members who have done this. The copper percentage is also much better for the Canadian cents. I am too far from the border to do this, but I do buy up Canadian money at a discount from dealers directly and at coin shows. The ones that are not copper or nickel are my Canadian Reserve. Coins generally cannot be exchanged in the states.. even if you would be willing to pay the fees. You just save them up, wait for the exchange rate to be in your favor, then repatriate them.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/03/2009 : 10:54:31
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| It would be good to know the general location of members, I do not think being specific would be a good idea, and it should be voluntary. Could someone start a thread similar to Indian Head tracking. I am from North Central Ohio. 60 miles south of Sandusky. Sandusky is the location of one of the few ferries to and from Canada. Fairly cheap trip. If you would like to add a link to your general location next to your user name you could use this. User: 2old - General Location: You must be logged in to see this link. There is also a map in the left column. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/03/2009 : 11:15:33
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We actually have a Frapper map somewhere that has pushpins where most of us are.
I am about 40 miles from the SF mint.. but I still don't get all that many S mint pennies. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 10/03/2009 : 13:04:24
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I believe i live about 6-7 hours away from Montreal, not quite sure at the moment. But if i were to drive up there, and purchase some huge amount of pennies, it would be a rediculous investment in time and money and planning.
To return with $10,000 one would have to:
pick-up $40,000 (that's a lot of banks)
sort them (where are you going to do the sorting? 1 ryedale without breaks would be going non-stop for over 9.25 days)
return them (good luck finding enough coin counting machines)
or you could tweak this plan by bringing multiple ryedales, coin counters & wrapping machines. Though it still seems a bit unrealistic.
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Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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2old
Penny Pincher Member
188 Posts |
Posted - 10/04/2009 : 15:45:44
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| Well, I have the pickup. We can use my pickup and your $10,000.00. OK? |
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 10/06/2009 : 13:30:32
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quote:
Originally posted by HoardCopperByTheTon
We actually have a Frapper map somewhere that has pushpins where most of us are.
It's in my signature. |
Sorting Map
2010 First Finds Contest
Are you a Buffalo Hunter?
Wanna take seignorage away from the Fed? Spend *any* coins!
We cannot afford this government.
Cerulean's Standing Offer: $3/lb shipped for foreign coins |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 10/06/2009 : 13:36:33
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quote:
Originally posted by 2old
Well, I have the pickup. We can use my pickup and your $10,000.00. OK?
Do you have accounts at any canadian banks? I haven't had one in some time now. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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Edited by - JobIII on 10/06/2009 13:37:03 |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/07/2009 : 08:36:16
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| No Canadian accounts, but I do have a Canadian client. Next time we speak, I will ask him about this. My bet is he will think I am crazy. |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/07/2009 : 08:47:03
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| Hey, the Frapper Map is pretty interesting. Never seen that before!! |
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misteroman
Administrator
USA
2565 Posts |
Posted - 10/07/2009 : 09:29:41
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| I added mine and put copper but have a gold colored dot.Are the copper ones all taken now lol.I'm 5 mins from the canadian border and have storage facilities if anyone can figure out how to do it.Might possibly raise some suspicion though. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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2old
Penny Pincher Member
188 Posts |
Posted - 10/07/2009 : 09:39:54
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You do not have to worry much about suspicion. There is a $10,000.00 limit on currency before you have to declare it, but no restriction on coinage. You may want to consider opening an account in a Canadian bank and start sorting Canadian copper. I bet you are creative enough to get around the conversion rate. If you are five minutes away, someone is loaded up on Canadian currency you may get a better deal than todays 1.USD/1.0571CanD. Lately it has been running 1.08+
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 10/07/2009 : 13:15:00
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| Having canadian coppers is a good move. They sell for more than US copper pennies, because their weight vs purity. Still i'm pretty set on not making such a trek. Beyond being out of the way, I'm not that into this yet. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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% Freaks. Canadian - U.S. Comparison
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