American stores never wanting to accept Canadian coins

[CR Resort Fan 4 Life]

The odd time when my family has been in the United States and paid for itmes by cash, sometimes we accidentally gave Canadian coins. You know anything from a Penny to a Quater. They always say they can't accept them which I can understand, but why is it if we accidentally gave American change in Canadain stores they have no problems accepting it?

 

[CanadianGuy]

Up till now.. Canadian banks are much better equipped to handle American coin than vice versa.
American Banks closer to the border with Canada have less problem with this.. but merchants are resistent to having to pack up a few coins or bills for conversion. It's a real problem for them at bank deposit time.

Taking Canadian money to a bank in the US is very much the same idea as taking Mexican Pesos to a bank in Canada. They'd probably charge you some ridiculous fee just for handling the stuff.

On the other hand.. take Mexican pesos to a bank in Texas and I'm sure they'll gladly handle no problem.. cause they probably do that every day.

Add to all that ... that for the last 30 years.. American money has been at a premium to Canadian money.. and there is added incentive to take it. Whereas Canadian money has been at a discount to American money, so it's really just a pain for the merchants down there.

Just a thought.

Knox

 

[CR Resort Fan 4 Life]

Up till now.. Canadian banks are much better equipped to handle American coin than vice versa.
American Banks closer to the border with Canada have less problem with this.. but merchants are resistent to having to pack up a few coins or bills for conversion. It's a real problem for them at bank deposit time.

Taking Canadian money to a bank in the US is very much the same idea as taking Mexican Pesos to a bank in Canada. They'd probably charge you some ridiculous fee just for handling the stuff.

On the other hand.. take Mexican pesos to a bank in Texas and I'm sure they'll gladly handle no problem.. cause they probably do that every day.

Add to all that ... that for the last 30 years.. American money has been at a premium to Canadian money.. and there is added incentive to take it. Whereas Canadian money has been at a discount to American money, so it's really just a pain for the merchants down there.

Just a thought.

Knox

I never thought of the bank factor so that is an intresting way to look at it.

 

[Fionasmommy]

Most banks here won't take foreign coinage at all because the cost of dealing with it negates any profit - they only take bills and in some cases only bills drawn from specific banks (like in Northern Ireland). I have a huge jar of pound coins gathering dust - probably $50 worth - and the only way I'll ever get to exchange it is if we go back to England. Now when we travel I always make sure to exchange all of my coins for bills at the airport, so I don't end up with more useless money.

I would guess that a stores reluctance to take Canadian coins relates to that, because if they can't change the coins over they're just losing money. It does also make sense that stores near the border might be able to accept them, because they're much more likely to have an avenue to exchange them for US currency.

FWIW, I've never been able to use US coins overseas. Not even in Australia, where the exchange rate is usually really favorable for us.

 

[yosh12]

I have over $250 in Us coins and can do nothing with it here. Not even deposit it into my US bank account. That bites LOL.


So I plan on stopping at a casino on the way to Orlando in August and changing it in for bills.

 

[Disney Ontario]

Hi. Once we were over in the states shopping, I gave them a Canadian penny and they even said something. I think it was even a huge major department store.

 

[OntFamily]

Currency from a foreign country is not legal tender. Sometimes, a store, when performing high degrees of customer service, will accept foreign currency. However, it is not required, nor is it common in some countries (ie the USA).

It's rare for a store to accept foreign coins.


A notable exception to this rule is the American dollar. It's accepted pretty much anywhere in the world, due to it's high degree of transferability into other currencies. Many stores, in most countries, will accept the American dollar (though sometimes with poor exchange rates).

 

[nokidz]

I have over $250 in Us coins and can do nothing with it here. Not even deposit it into my US bank account. That bites LOL.


So I plan on stopping at a casino on the way to Orlando in August and changing it in for bills.

toll money!!!!

 

[bbangel]

Make sure you watch your change carefully. I actually have received Canadian coins in change given by American stores. They are usually very nice about changing it when you point it out to them.

 

[snowy76]

Just caught this thread and find it very interesting - I've lived in Central NY for 30 years and have never had a problem using Candian coins in stores (up to a quarter). Maybe it's our proximity to the border - and I know the malls around here have always gotten lots of Canadian visitors - didn't realize this wasn't more common!

 

[cdn ears]

As OntFamily mentioned US currency is not legal tender in Canada as ours isn't in the US.

Working in various areas of the tourism industry in Ontario I have even experienced many irate US customers expecting to receive US currency back for change - I know of some places that do this as a courtesy but is not required to be done by law, as long as a fair exchange rate is given.

Exchange was only given on paper currency, again irate customers regarding coin - "you offer an exchange on my bills but you won't accept my coin" again having to voice that we are accepting it as a courtesy and is not legal tender. Many US and Brtiish coins have jammed our coin equipment in the past!!

 

[Capt'n RC]

When my GF and I went to Disney back in January, they wouldn't accept her Canadian penny at Tatooine Traders lol....

I think the main reason they wont is that there currency is worth more, so ur techniqually not giving them enough money.

for a penny it makes u think though....

 

[BizziBee]

I manage a retail store here in Waterloo region. I never even pay attentaion to weather I am getting Canadian or American coins. If I am close to a trip in the US, I will change them in the register for Canadian and use the American money on holidays. I get rolls of coin from the bank and they quite often have American coins mixed in.
On another note, When my Mom travels to the US, she always keeps her American change over the year, and when ever we are shopping she pays with ALOT of coins. She usually seperates it and has it precounted to make it easier in the stores. When DH and I were in Vegas on our Honeymoon, we took Mom's coins and blew them at the Casino!