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Old 02-20-2009, 09:20 AM
 
13,710 posts, read 22,832,449 times
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Quote:
Originally Posted by j_k_k View Post
And I can remember when the $C was even lower. I completely understand businesses not taking currency or coin at face value when it doesn't have that value at the time. I'd think it would be the same north of the 49th: if $C1.00 equaled $US1.40, I am not thinking that Canadians would be taking $US on a 1:1 basis. No businessperson with sense would do that. Nor would it be prejudice against either nationality; for example, nothing would stop Canadians from heading over to Detroit from Windsor, getting a pile of US coins at the going rate, and bringing them home for an immediate deep discount.

The only reason it even arises is that the coins are the same size up to 25c. (They weren't always. Canada used large pennies far later than we discontinued them in the US, and I remember some WWI-era Canadian half dimes that were teeny tiny little things not much bigger than our old 3c silver and nickel pieces from the mid-1800s.) I'm betting that if they were different sizes, none of this would arise. But since they look pretty similar at a glance in change, and the currencies have the same noun, people have this mental assumption that they should have similar value. That's just not realistic. Just because the $HK and $Au are also called dollars doesn't mean they should be equal in value to the $C or $US, and there's no reason for it to be any different between Canadian and US money. People are just mentally lazy and assumptive.

But it did really annoy me when businesses would expect me to take Canadian change, but act like I was being mean if I passed it on them. And any banker with any sense receiving a deposit of $90 or so in coins, one penny of which is Canadian, is stupid to make an issue of that penny. Anyone who rolls and deposits coins is probably a fairly thrifty person likely to be good business for the bank: unlikely to bounce checks, very likely to maintain savings. Another good business principle: know which hill to take a stand on.

You have it backwards. You would go over to Canada to get Canadian coin and use it in the machines in the US. And trust me, if I had accepted Canadian coinage, I would have received a lot of it.

Canadians will accept US dollars at par, especially when it is in their favor. They don't do it often close to the border as they know that they have to offer a fair exchange if they want the business.

As for the coins, the nickles dimes and quarters, while similar sized, weigh substantially different than their US counterparts do which make it very easy for mechanical and electronic changers to reject them. Remember that weight, size and solidity (no holes in the middle) are what coins are judged on.

When businesses send their coin to the bank, they generally send it in sealed bags. The bank or armoured service will then dump the coin into sorters and produce rolled coins. Those sorters will also sort out foreign coinage and debit the customer for the difference.
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Old 02-20-2009, 09:46 AM
 
Location: SW Missouri
15,527 posts, read 29,240,196 times
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Quote:
Originally Posted by brokendolly View Post
All the time but then I live close to the border. I've probably seen more US Sacagawea dollar coins than the average US citizen.

Canadians have always accepted US coin although most of the time in my experience it hasn't been reciprocated. I was once in L.A. buying some clothes and I mistakenly gave a Canadian penny to the clerk and she created a huge scene. For a penny. I walked away without the purchase. She lost a rather large sale.
I was very surprised to see how readily US coinage is accepted in Canada. It is a very sensible way of doing things (especially now that their exchange value is about equal). Most people in the Lower 48 are so utterly devoid of any knowledge about *anything* that they cannot even RECOGNIZE a Canadian coin, let alone have any idea what to do with it.

As an adjunct to this conversation, I find that banks in Canada are also much more atuned to American money as well. When I was there with my Canuck hubby it was *effortless* to exchange US money for the Canadian kind. On the other hand, once we brought back some Canadian money with us and attempted to exchange it locally. It took THREE WEEKS for the money (which had to be "SENT AWAY") to be returned to us in the form of US Greenbacks. Mind you, Springfield, Missouri is the third largest city in the state and it had to be "SENT AWAY" to Kansas City for it to be exchanged. Go figure.

20yrsinBranson
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Old 02-20-2009, 10:11 AM
 
Location: Aloverton
6,564 posts, read 11,882,584 times
Reputation: 9953
Quote:
Originally Posted by jlawrence01 View Post
You have it backwards. You would go over to Canada to get Canadian coin and use it in the machines in the US. And trust me, if I had accepted Canadian coinage, I would have received a lot of it.
I don't have it backwards; rather, you weren't paying attention. Suppose the $US continued its slide toward being the US Peso. Do you think Canadians would continue to take US$ 1:1 if a $US was worth half the value of a $C? Don't you think their vending machines would stop taking our coins pretty quickly? Let me make this as straightforward as possible. Imagine C$1 is worth US$2. That means you can swap one Canadian dollar for two US dollars. So if you are running machines in Canada, all of a sudden you do not want to give everyone a 50% discount, which you are doing if your machines take US coins. So you do whatever is necessary to make sure they do not. Otherwise even your countrypeople will run down to Sumas or Blaine or whatever border town, get two Yank quarters for each Canadian quarter, bring the Yank quarters back. Before, you had one quarter that will buy a gumball. Now, if my math is correct, you have two quarters that will thus buy two gumballs. The merchant is being ripped off.

I was defending your position, in case you did not observe that, pointing out that were the situation reversed Canadians would do exactly the same.
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Old 02-20-2009, 10:27 AM
 
Location: Moving through this etheria
430 posts, read 500,701 times
Reputation: 186
Quote:
Originally Posted by LiveChick View Post
Speaking on the subject of change, does anyone know why American vending machines dont take Canadian coins ?
This happened to me on 3 different machines !!!
For all the points mentioned above about the exchange rate, and therefore the machines may not want to take them in. A more sophisticated machine (I saw one once in Vegas in the airport) would not only take your change but would calculate it's value in Yankee dollars and convert for you. But it got complicated to buy a $0.75 candy bar and you had to enter whatever...

87 cents in Canadian coin?

Anyhow, it's an easy thing for the machines to recognize the dimensional and density differences.
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Old 02-20-2009, 12:20 PM
 
13,710 posts, read 22,832,449 times
Reputation: 18521
Quote:
Originally Posted by j_k_k View Post
I don't have it backwards; rather, you weren't paying attention. Suppose the $US continued its slide toward being the US Peso. Do you think Canadians would continue to take US$ 1:1 if a $US was worth half the value of a $C? Don't you think their vending machines would stop taking our coins pretty quickly?
You must not be tracking the same exchange rates that I am. The US dollar has been growing stronger and the Canadian dollar has been hovering around $0.80 US since October 2008.

The temporary spike toward par last year was more a function of the commodity bubble (now burst) than any economic reality.

Your post reminds me of some of the folks in Australia last summer who were planning a trip to the US this past January. When the Aussie dollar was at a recent high, I encouraged them to buy US dollars. They laughed and said that they were waiting for the US dollar to drop like a peso. When their currency dropped 50% before their trip, they had to shorten their holiday.
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Old 02-20-2009, 12:59 PM
 
Location: Aloverton
6,564 posts, read 11,882,584 times
Reputation: 9953
Quote:
Originally Posted by jlawrence01 View Post
You must not be tracking the same exchange rates that I am. The US dollar has been growing stronger and the Canadian dollar has been hovering around $0.80 US since October 2008.
I am not tracking any actual exchange rates, nor did I attest that I was. I was, as I have pointed out in the most explicit possible terms, creating a for-instance to support your original position. A for-instance is a hypothetical, which in turn means that it doesn't/didn't really exist.

If that still remains unclear, then someone else will need to handle further simplification.
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Old 12-18-2015, 08:37 PM
 
1 posts, read 723 times
Reputation: 10
I am actually collecting a fairly complete collection of the American state and parks quarters by trading rolls of what should be Canadian coins at my local CIBC bank here in Edmonton Alberta about 5 hours drive time from the US border. US change being used in Canada on par with Canadian change has always been normal as far as I remember. The banks will give an exchange rate only for bills but it never occured to me that the banks should bother with the same consideration for change. What I find amusing is that the Canadian loonie that first appeared in 1987 was followed by the 2000 American Sakawagea dollar and now the presidential series, that is virtually the same size and color as the loonie as if it were created to infiltrate the Canadian coin supply. Why change from the color and shape of the Susan B Anthony dollar from 1979?
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Old 12-18-2015, 09:08 PM
 
5,501 posts, read 3,355,263 times
Reputation: 13917
Quote:
Originally Posted by cana-state collector View Post
Why change from the color and shape of the Susan B Anthony dollar from 1979?
Everyone hated the Susan B. Anthony dollar because it was so easy to mistake for a quarter. I'm sure that's the main reason the new dollar coins were made gold-colored. Now we just hate them because they are dollar coins. I don't think any dollar coin will ever be popular in the US.
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Old 12-19-2015, 09:06 AM
 
Location: Toronto
6,754 posts, read 3,356,692 times
Reputation: 4619
Default Yup...

Quote:
Originally Posted by Busch Boy View Post
It's just a fun question I wanted to ask you guys. When I take my coin jars to the bank, in order to convert them into paper bills, they usually find about 4 or 5 Canadian coins among them. Sometimes I find them in my change when I go to the store, although not that often. Dimes and pennies are definitely the most popular, followed by nickels.

So my question for you guys is, how often does this happen to you with American coins?
Yup. It happens, but sadly not enough or I would be 30% richer 😉
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Old 12-19-2015, 12:10 PM
 
Location: Boston, MA
1,684 posts, read 3,206,653 times
Reputation: 1570
It definitely happens. I was in Montreal purchasing a sandwich and the cashier gave me an American nickel and dime as part of my change. Either she didn't bother to look at what she was giving to me or she didn't care. You have more of a chance of getting some American coins back in change than a Canadian 50 cent piece much less a Canadian penny!

Interestingly enough, a day before, I was making a purchase at Tim Horton's and the cashier gave me in change a coin that greatly resembled a toonie from afar but upon closer examination, turned out to be a foreign coin, the origins of which I still haven't figured out yet.
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