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Old 08-20-2013, 03:02 PM
 
Location: Victoria TX
42,663 posts, read 74,567,408 times
Reputation: 36111

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Quote:
Originally Posted by Natnasci View Post
It's much more difficult to exchange money in the US. Friends of mine in the US had to wait up to a week just to get some Euro's. I'm sure it's not the same all over the US but it's definitely not the same as here in Canada.
As for coins, pennies as you know will one day not be accepted and a lot of the newer vending machines don't accept US coins anymore.
My friend in Montreal just told me the other day that pennies are no longer going to be used in Canada. Prices will still be quoted to the cent, if paid by credit card or check, but for cash transaction at point of sale, prices will now be rounded off to the nearest 5 cents and the Canada Mint will stop making pennies.

American vending machines have never accepted Canadian coins. In northern Michigan, a roll of quarters from a bank would always contain one or two Canadian quarters, which did not work in laundromats.
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Old 08-20-2013, 03:28 PM
 
Location: Canada
5,718 posts, read 6,578,469 times
Reputation: 8236
^^^That's already happened. In my experience, most businesses here are rounding down rather than up. And there aren't any more pennies being minted although they say that pennies will always be accepted as legal tender, assuming you have a jar full of them at home.

Interesting side note - the Wpg Free Press carried a story about a business that tiled their floor entirely in pennies. I thought it was kind of neat. Floored by pennies: Stony Mountain's Summit Café has embraced the coin that Canada has cast aside - Winnipeg Free Press
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Old 08-20-2013, 05:02 PM
 
Location: Windsor, Ontario, Canada
11,265 posts, read 13,237,578 times
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^^^^ WOW, netwit!

I think that's awesome! I'd love to see an afternoon sun shining on it.
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Old 08-20-2013, 05:55 PM
 
Location: Vancouver
12,771 posts, read 8,852,290 times
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Quote:
Originally Posted by netwit View Post
^^^That's already happened. In my experience, most businesses here are rounding down rather than up. And there aren't any more pennies being minted although they say that pennies will always be accepted as legal tender, assuming you have a jar full of them at home.

Interesting side note - the Wpg Free Press carried a story about a business that tiled their floor entirely in pennies. I thought it was kind of neat. Floored by pennies: Stony Mountain's Summit Café has embraced the coin that Canada has cast aside - Winnipeg Free Press
This is very cool.
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Old 08-21-2013, 02:42 PM
 
Location: Montreal, QC
60 posts, read 67,740 times
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Quote:
Originally Posted by botticelli View Post
let's be honestly, people accept USD because it is USD, the only hard currency.

Yes money is money but how often do business accept Japanese Yen or the euro? Hardly.

Business accepts USD because it is the most liquid currency, by far the most important reserve currency.

And also because Canada heavily depends on the US and love its money. When I was in Argentina, all businesses love USD. But in Brazil and Chile, hardly any store accepts USD.

How can a currency be both the only hard currency and the most liquid one at the same time?
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