How to Change Canadian Coins Into American Money
Converting a large quantity of Canadian coins into American money might be a good first step in preparation for a cross-border shopping trip in the United States or to take advantage of a favorable Canadian-to-U.S. exchange rate. The process is fairly straightforward, and can be accomplished at many financial institutions on either side of the border. The entire transaction should only take a few minutes of your time.
Other People Are Reading
Instructions
-
-
1
Determine the current Canadian dollar to U.S. dollar exchange rate. Many Internet sites, such as Microsoft's "Money Central," provide this information. If the Canadian dollar is worth more than the U.S. dollar, it might be an advantageous time to convert your coins.
-
2
Contact several financial institutions such as banks or credit unions. Ask if they perform currency exchanges between Canadian and U.S. funds. Not all banks offer this service. If they do exchange Canadian and U.S. funds, compare their service charges for doing so. Also ask if they prefer loose or rolled coin.
-
-
3
Deliver your coinage to the financial institution. Based upon the current exchange rate, they will accept your Canadian money and give you U.S. currency in return. They will deduct their service charge from the amount you receive.
-
1
Tips & Warnings
In most of the U.S. states bordering Canada, pocket change amounts of Canadian dimes and quarters usually pass freely and are accepted by merchants at face value. However, you will not be able to purchase U.S. postage stamps with Canadian money. This is a violation of U.S. postal regulations.
References
Resources
- Photo Credit canadian coins image by Sly from Fotolia.com
