Is there a reason to save Canadian coins?

BeastMode said:
I am new to this hobby and I was wondering if there is a good reason to save Canadian coins I find in rolls. I've seen other people say they found some and I'm just wondering the reason as to why. Any help is appreciated. Thanks
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2 main reasons: 1) for fun / foreign coin collecting; 2) several older ones contain silver. Older quarters and I believe dimes. Don't know the exact years but that can easily be found on a web search. Some have 80% and others 50% I think.
 

FloridaFinder said:
2 main reasons: 1) for fun / foreign coin collecting; 2) several older ones contain silver. Older quarters and I believe dimes. Don't know the exact years but that can easily be found on a web search. Some have 80% and others 50% I think.
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Yes, same reasons I keep them too, I keep all my foreign no matter what it is also, I thought they were stopping production of the Canadian Cent also, so I keep them for that reason too. HH, Maverick.
 

Yes, each dollar will make you a little "loon"ier though;).
 

since canada stopped making the canadian penny, I'm not entirely sure but i think its legal to melt down the pre-1984 (not sure exact date) that are 95% copper. Not to mention the canadaian penny is really cool. always did like the maple leaf motif.

Sincerely, garoulady
 

I find Canadian dimes in most every roll I search, and I search thousand$ in dimes each month. You have to get creative to move them, as most banks here will not knowingly accept them.
 

Thanks Sag, appreciate the update. I got to start writing all this down. as for having a lot of canadian money just take rolls of it to a store when you go shopping. ask to switch out for cash. If its anything smaller than a quarter there's no reason why a store or a bank can't take it. I have had no problems whatsoever getting rid of my non-silver canada coinage. Now if you have loonies and toonies ( 1 & 2 dollar coins) that's an entirely different beast. Those you would have to go to a foreign currency exchange.

Hugs and Smiles,
Garoulady
 

BeastMode said:
I am new to this hobby and I was wondering if there is a good reason to save Canadian coins I find in rolls. I've seen other people say they found some and I'm just wondering the reason as to why. Any help is appreciated. Thanks
Click to expand...

reasons to save Canadian coins:

1.some older ones have AG in them
2. the Canadian Dollar is worth more than the US Dollar
3. good as a backup if the US dollar fails
4. tellers are going to kill you if you hide a Canadian coin in a CWR
5. you can put a magnet under the table, and move it around and the coin will move around.
 

Canadian coins would be legal to melt down in the US already (any prohibition against it would only be valid in Canada...).

Of course there are Canadian silver coins. Any non-silver Canadian dimes and quarters will not go through a coin machine (they are magnetic and will be caught) and naturally tellers frown upon sticking them in CWRs. Non-steel Canadian pennies will go through coin machines just fine. Canadian nickels from 1982-1999 are the same composition of American nickels. Later ones are nickel-plated steel and most of the ones before are 100% nickel (and worth more in melt) exceptions are 1942-1943 which are made out of tombac (and look copper in color) 1951-1954 are nickel-plated steel. Aside from the 1982-1999 nickels (and I suppose the tombac nickels) the counters will reject Canadian nickels because they are magnetic.
 

50cent said:
4. tellers are going to kill you if you hide a Canadian coin in a CWR
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I once made the mistake of trying to pass off some Canadian dimes on my fav teller. It kind of upset her, wow, I learned my lesson. I have yet to find a bank that will knowingly take any quantity, so they are piling up lately, I have several hundred from just this month alone.
 

If you guys have a Casino in your area call them up and see if their exchange rate is better than the banks. You might be able to just deposit the CAN straight into your bank account to avoid any fee resulting from $ for $ exchange.
 

I keep everything non-american,just for fun!! Was in the Army a few years ago stationed in Korea. Got a lot of coins and bills from there,some from Japan as well. A few from Mexico I found in my change and of course Canada. But like I said...just for fun!!
 

People really give you guys and gals problems with Canadian money?? I haven't had any troubles with the. I have all my canadian nickels and I know if I roll them, I can exchange them for cash, no questions asked, no problems whatsoever. But then again, I live in michigan surrounded by the border and get tons of coinage all the time. we actually have been told not to take canadian loonies and toonies because it happens so infrequently its not cost-effective to exchange them out at a local bank. Personally I was going to ask the cash manager to switch out the canadian for american and I would take it in twice a year to the foreign currency exchange in town.

Hugs and Smiles,
Garoulady
 

BeastMode you are within shouting distance of me in Michigan, hello! Seriously, you are that close.
 

People - I have a really easy solution.

Chase Bank takes canadian coins at face value for US dollars.

You are welcome.

PS- pull the silvers out first.
 

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