I sort out the zinclons and have a few dollars of them. Will the bank take them as American and give me FRNs back or do they just give back Canadian dollars?
I get about $1 every box of pennies. Thats not including the coppers.
How thinks work at my bank is that they will except mostly all major circulating PAPER currency and give you the exchange rate minus their cut/comisson in your country's currency.
But they do not accept coins. But with the US dollar only trading 5 cents or so higher than the CAN dollar there would be no point after fees. Just throw them back into circulation unless you want in invest in the US or ever have a huge amount ($100 US dollars would only yield something like a $5 per rate).
I just save all my US coins and return them to a US bank when I cross the line. A bit of a forced savings plan. It was more profitable too when the Loonie was at 65 cents US. It is a nice bonus to get full US rolls of quarters at the bank for Canadian cash :)
“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
Canadian question
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Posted - 08/26/2010 : 23:15:40
