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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 10/25/2009 : 08:37:28
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I may have a trip up to our neighbor of the north planned for next year. How easy is it to go into a bank in Canada and buy nickels with US currency? I might just as well bring all my post-1982 nickels and exchange them too, lol.
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/25/2009 : 09:02:58
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| You might have more luck exchanging your money somewhere else and then going to the bank, but other than that you should be fine. A foreign exchange place will probably give you a better rate anyway. |
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Dumpster Diver
Penny Collector Member
USA
474 Posts |
Posted - 10/25/2009 : 09:23:35
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I'll be heading to Toronto for work early next year...would like to get a box of nickels- Am I gonna face any hassles getting them back in- airport, etc? Do I need to check them or carry on?
Thanks! |
"You're not really gonna throw that out...are you"? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/25/2009 : 12:56:11
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| You can handsort the box pretty quickly - then you will not have to carry the $80-$90 of coins you don't want back to the US. |
“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 10/25/2009 : 14:52:07
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| wow percentages are really dropping huh |
Inquiring minds want to know |
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1945V
Penny Pincher Member
Canada
153 Posts |
Posted - 10/25/2009 : 15:09:40
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Percantages are really down, I was getting a 20% yield last year at this time. I am now getting a 7 to 10% yield.
The mint is relaiming nickel from nickels, dimes and quarters like crazy.
Surprisingly pennies are still yielding 40%. It does not look like the mint is going after copper for now.
I thought there would have been a greater demand for copper rather then nickel.
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Edited by - 1945V on 10/25/2009 15:16:20 |
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Dumpster Diver
Penny Collector Member
USA
474 Posts |
Posted - 10/25/2009 : 15:19:13
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Good point jadedragon...I can sort in my hotel room, but dumping the rest may pose a problem (if I can can get them without an acct in the first place). It is legal to ship these to the states, right?
Anyone in the Toronto area? I'll be in Missauga (sp?) early next year.
Mississauga... |
"You're not really gonna throw that out...are you"? |
Edited by - Dumpster Diver on 10/25/2009 16:44:12 |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 10/25/2009 : 15:33:30
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| How is the half dollar searching in Canada? Has the silver been 100% removed from 50 cent rolls? I was thinking that dimes may not be totally coin-rolled searched. Kind of hard to spot the silver edge of a dime when the whole roll is full of those silver edged coins. Perhaps using a magnet to leave behind the non-nickel dimes? |
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Dumpster Diver
Penny Collector Member
USA
474 Posts |
Posted - 10/25/2009 : 16:04:52
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Man, the idea of spreading out a couple thousand Canadian dimes on my wooden workbench and dragging an old-school "U" shaped magnet across them has got the wheels in my brain turning!...may have to get some boxes of dimes while I'm up there...
A whole new way to coin roll hunt for we Americans! |
"You're not really gonna throw that out...are you"? |
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Coinage
Penny Collector Member
Canada
303 Posts |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/25/2009 : 18:58:45
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| Shipping would kill you. Just sort out the keepers and cross with those. |
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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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/25/2009 : 21:08:24
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No limit to how many Canadian nickels you can take south (the $5 limit applies to US nickels leaving the US)
The magnet idea will just suck up all the steel and nickel dimes. You will be left with a few US dimes and MAYBE ae di silver dime. A total waste of time. I just scan the coins for the distictive color of silver and the king/young queen and/or date give away. The old coins really stand out from all the new ones with the older looking queen.
We can not search 1/2s in Canada. No bank carries them and no one will order them. Sometimes I can buy a few here and there but never have I found silver.
I would think you could just sell the sorted coin back to any Canadian bank without an account. I actually have accounts in most of the banks but I not everywhere. For example I just bought a whole bunch of coin at a Scotiabank for cash and I've never had an account there. |
“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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n/a
deleted
3 Posts |
Posted - 10/25/2009 : 22:27:10
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I have my own, similar matter to tack on if you guys don't mind:
I have a friend in Toronto whom I plan to pay to sort and hoard pre 82 nickels for me. Then at some point transport a large load to my homestead (when I get one, or a good friend/relative's) in the US. The first problem is that the friend is poor (which is why she is considering doing this for me) which means I need to send her money with which to buy the nickels (and I'll probably compensate her as well up front). I'd like to send a few hundred CAD, which I have on hand, just to have her start out and see if she actually wants to commit to this on a larger scale. The mail I've sent to CA in the past was always opened in transit and IIRC USPS won't insure money so that's no good. I can mail a check or wire funds but I'm sure the fees and exchange rate will eat me alive on a few hundred bucks. If I send her a few thousand, she'll likely send it back after she becomes disinterested (and I won't want her to pay the fees). Any suggestions?
One idea that just came to mind is that she could sell nickels to someone here (like Dumpster Diver) get her bearings. Then I could take over with the large investment. Let me know if anyone is interested in that. I've negotiated a rate of 2x face (she'd probably take 10c/ea USD as well). |
Edited by - n/a on 10/25/2009 22:35:28 |
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jin.coy
Penny Pincher Member
Canada
128 Posts |
Posted - 10/26/2009 : 10:21:22
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@ JerrySpringer
BUYING:
to buy 10-20 rolls of nickels is common in every branch without having an account, I guess bank tellers will not ask you questions
when buying an box(50 rolls) things are tightening, some branches are very small so they cannot give you such amount, some will start checking if you have an account
when buying more then a box, you need to let them know at least 24h in advance because bank needs to request the coins from a main branch. if you go directly to main branch business tellers you might be lucky and get few boxes, most of the tellers will ask you for an account and rightful so because what if you change your mind and you do not come the next time to take the coins off their hands.
RETURNING:
as I know no bank will take bags of coins you need to roll your coins
to return 10-20 rolls is easy, I guess nobody will ask you for an account, worst case scenario they will open a roll or two and check the coins and count it in front of you before accepting the coins
in Toronto there are some free coin counters, but they have a limit of 2k in nickels, the branch where I used to dump has a 3rd party company that comes and replaces the bags, thats based from my experience ... others are welcome to share their experience
if you are returning a full box it might start some tellers's interest and they will start asking you questions.
THINGS TO KEEP IN MIND:
there are very few free coin counters(none in Downtown Toronto), you have to roll your coins yourself
there are 50% chances to get full rolls with 2009 coins or steel coins(from 2001-2009) as you all know the Alloy Recovery Program is in full swing that results in very few boxes full with CWR.
Most banks are working 9/9:30 to 4, so you have to be very efficient.
.999 Ni percentage really dropped when I did my last survey it yeilded CWR between 7-10%
Coinstar fee is 8.9%
Have fun visiting Canada!!!
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Edited by - jin.coy on 10/26/2009 11:43:09 |
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n/a
deleted
7 Posts |
Posted - 10/26/2009 : 13:10:23
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| I have $500 face in Cdn .999 nickels, rolled and boxed. No copper, steel or Tombac! I'm looking for $1000 cash, and will deliver to Toronto or Montreal. |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 10/26/2009 : 14:11:55
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The free counters in toronto that I know of are at td banks, there's a list on the internet somewhere but I don't have the link in front of me. TD is usually open later than most banks as well. The one I go to is near Coxwell subway stn. Apparently without an account you just have to show a couple pieces of ID and they give you cash.
Also as jin.coy was saying 20 rolls is a pretty safe amount to ask for with no account. If they refuse, you probably wouldn't have had better luck if you asked for less. |
Edited by - psi on 10/26/2009 18:07:49 |
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jin.coy
Penny Pincher Member
Canada
128 Posts |
Posted - 10/26/2009 : 14:32:22
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@malibu
I think you'll have more luck if you post in BIN section on this forum. |
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n/a
deleted
7 Posts |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/26/2009 : 20:13:09
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| I concure asking for 20-30 rolls is no issue. They either have the coins or they don't. A box means getting from the back and more hassle. You can sell a few blocks of 10 rolls without an issue. Just trade for 20s. |
“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.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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How easy is to buy nickels in Canada?
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