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n/a
deleted
19 Posts |
 Posted - 05/13/2006 : 17:06:20
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I would love any opinion on the following
I have lots of family in the Detroit area that I was planning on visiting soon and debating whether it would be worth my time to drive instead of fly for the main purpose of hitting up banks in the Windsor area for pennies. My theory is a much greater % of copper plus the added bonus of my opinion that the U.S dollar will continue to lose strength against the Canadian dollar. Possible problems and questions I see are the following.
1. Is it legal to transport back to U.S ?(Im thinking maybe $500.00 worth of pennies)
2. What do you think my % will be be?
3. Has anyone searched Canadian rolls?
4. How do they come ?(25.00 boxes like U.S?)
5. Will it be a bad idea to hold foreign money in the long run?
6. Am I crazy for thinking about this?
I allready figured that it's cheaper to drive than fly even at todays gas prices. I like long drives. My sister is keen on the idea of going with me, we would just spend an afternoon together going from bank to bank and it's only about an hour from her house. Please try to punch some holes in this idea because it makes sense...so far, especially the falling dollar part. Heck I might even just convert some dollars anyway for that reason. I do like Canada and it would give me more of a reason for a future vacation there. Cheers!
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n/a
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115 Posts |
Posted - 05/13/2006 : 17:29:16
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I did a quick search online and it appears that you can bring back any amount of Canadian currency that you would like. If you bring more than $10,000.00 worth you have to fill out a customs form. I do not think it would be a bad idea to keep some Canadian currency as I also think we will be closer to parity soon which would mean a handy profit if you change it back later.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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n/a
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19 Posts |
Posted - 05/13/2006 : 17:38:23
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Forgot one major thing....bringing the zincs back. Duh! As this would be just a one day thing and I don't expect to sort until back home this makes the whole thing not worthwhile. Maybe if I lived near the border. I don't think I want to hold onto all the Canadian zincs even as a currency play. Okay on to my next bright idea! lol.
Peace from the south.
thinkin I should change my username to "tomuchtimeonmyhands" |
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n/a
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115 Posts |
Posted - 05/13/2006 : 17:44:16
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I do not think you are going to get as many zincs in the Canadians as you would in the U.S. as the Canadians were 98% copper till 1997. I would at least get some you do not have to go overboard.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/13/2006 : 18:13:25
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Stillinthegame, the free coin counting machine I use at my local banks accepts and counts Canadian pennies. It rejects every other denomination of Canadian coin, but it accepts the pennies.
 
RealCent
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 05/13/2006 : 18:59:24
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Can someone tell me about Canadian nickels? I might go to the falls this spring.
Bad money drives out good money. |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/13/2006 : 19:41:19
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quote:
Originally posted by Ardent Listener
Can someone tell me about Canadian nickels? I might go to the falls this spring.
Bad money drives out good money.
Hi Ardent,
I tried looking on the Royal Canadian Mint site, but couldn't find the information. Some Googling turned up the following, but I can't swear to its accuracy. I wish we had some pure nickel coins circulating in the states.
Link: You must be logged in to see this link.
QUOTED FROM LINKED PAGE:
1922-1942
A pure nickel 5-cent piece was introduced to replace the silver/copper coin. It was the first use of nickel in Canadian coins.
Composition: 100% nickel.
1946-1951
After World War II, the mint returned to the use of nickel in 5-cent pieces. During the war years, copper and zinc were used due to high nickel demand.
Composition: 100% nickel.
1951-1954
Demand for nickel during the Korean War prompted the production of a steel 5-cent piece with nickel plating.
Composition: Steel with .0127 mm plating of nickel and .0003 mm plating of chromium.
1955-1981
Pure nickel 5-cent pieces were minted.
Composition: 100% nickel.
1982-Present
5-cent piece cupro-nickel
Composition: 75% copper, 25% nickel.
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RealCent
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For more copper cent hoarding information check out:
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n/a
deleted
115 Posts |
Posted - 05/13/2006 : 20:34:07
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Now pure nickel nickels that might get me excited about saving nickels. I will have to watch out for these.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/14/2006 : 18:14:30
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Thanks realcent. I'll have to be on the lookout for them. We are on the south shore of Lake Erie and get a lot of Canadian coins in these parts. $$
Bad money drives out good money. |
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n/a
deleted
143 Posts |
Posted - 05/19/2006 : 02:29:28
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quote:
Originally posted by IM_O.K.
Now pure nickel nickels that might get me excited about saving nickels. I will have to watch out for these.
hi, new member here, from vancouver, canada;
i get my penny and nickel rolls from royal bank, and deposit the searched coins into my nova scotia bank account; and i am trying to go to different branches to avoid suspicion, and/or resentment
today is my largest withdrawal of coins, 60 rolls of nickels and 60 rolls of pennies, from 2 visits to 2 branches; the total weight was about 40 pounds inside an otherwise strong empty napsack; i was unable to do grocery on my way home;
on average, i get approximately 8 100% nickels (=< 81') for each roll, so about 20%; and about 40-45% 98% pennies (=< 96')
i am planning to save up to my body weight of copper pennies and nickel nickels, which would be about 300 and 800 dollars on face value respectively
what are good containers?
teach your kids to sort pennies, and they will not spend your money like crazy |
Edited by - n/a on 05/19/2006 02:31:44 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/19/2006 : 07:10:32
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welcome Ballcopper. It is interesting to hear what is going on in Canada with the pennies and nickels. I would like to find some of those 100% nickels. I'm useing the plastic containers that I get my whey protein in for my loose pennies.
Bad money drives out good money. |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/19/2006 : 07:14:57
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Hi ballcopper, welcome.
If I lived in Canada I would definitly be hoarding some pure nickel nickels.
As for containers, anything that keeps them dry should work. I stay away from plastics that contain PVC if you plan to store them for a long time as it can turn coins green eventually, not that it really matters though.
Alot of people just roll the coins back up in bank roll wrappers and put them in a box. If you drink coffee, old coffee cans would work.
Personally, I have been putting my copper pennies in a bunch of old cleaned out glass table wine jugs (the big ones) that I had down in my basement.
RealCent
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Canadian conundrum?
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