Where to Deposit USD Coins in USD Account in Canada

Dec 5th, 2022 11:46 pm

#1

DavidSan [OP]: Jr. Member; Apr 15, 2020; 114 posts; 25 upvotes

Dec 5th, 2022 11:46 pm

Where to Deposit USD Coins in USD Account in Canada

Hi, I have searched around and don't think there is a solid solution for depositing USD coins. I have a BMO USD savings account but they will only take it at 1:1 value to CAD

Some comments in this thread mentioned that RBC will accept USD coins assuming at USD value but not sure if they still do nowadays:
Post from 2016

Travelling to the US to spend it is not practical for me. Any other ideas?

Dec 6th, 2022 12:35 am

#2

twodogs: Newbie; Feb 22, 2022; 31 posts; 37 upvotes

Dec 6th, 2022 12:35 am

Many years ago somebody told me they would pick U.S. coins out of our CAD pocket change, set it aside, and eventually when they had a bunch saved up, take it to the bank and exchange it for CAD funds and make a profit.

Was told the banks were ok with this.

Never tried it myself though.

Dec 6th, 2022 12:47 am

#3

ADenariusSaved: Deal Addict; Jan 11, 2020; 3922 posts; 3241 upvotes; Torontois @ 宇宙中心

Dec 6th, 2022 12:47 am

Aren't credit cards sufficient for travel in developed countries nowadays? Like WealthSimple Cash, BRIM, Home Trust Preferred, Scotia Passport/Amex?

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Dec 6th, 2022 1:05 am

#4

DavidSan [OP]: Jr. Member; Apr 15, 2020; 114 posts; 25 upvotes

Dec 6th, 2022 1:05 am

ADenariusSaved wrote: ↑ Aren't credit cards sufficient for travel in developed countries nowadays? Like WealthSimple Cash, BRIM, Home Trust Preferred, Scotia Passport/Amex?

Yes there are lots of choices for credit cards for foreign currencies. My issue tho is how to deposit USD coins on hand

+1

Dec 6th, 2022 1:01 pm

#5

akfdqwer: Newbie; Dec 1, 2022; 13 posts; 8 upvotes

Dec 6th, 2022 1:01 pm

DavidSan wrote: ↑ Some comments in this thread mentioned that RBC will accept USD coins assuming at USD value but not sure if they still do nowadays:
Post from 2016

I have deposited some US coins at RBC recently, and I can confirm that they take them as Canadian.

+4

Dec 6th, 2022 1:12 pm

#6

DavidSan [OP]: Jr. Member; Apr 15, 2020; 114 posts; 25 upvotes

Dec 6th, 2022 1:12 pm

akfdqwer wrote: ↑ I have deposited some US coins at RBC recently, and I can confirm that they take them as Canadian.

Thanks for the confirmation. I was hoping that they will take them for USD value..

Dec 6th, 2022 10:35 pm

#7

HammerRFDer: Deal Addict; Jul 13, 2007; 1174 posts; 687 upvotes; Toronto

Dec 6th, 2022 10:35 pm

Either post them on kijiji, or (I know you said you can't, but for others) do a border-city trip and open up a US$ account there and/or use them for tolls/purchases/etc.

What city are you in? Someone might be able to help you out for a much better exchange rate than 1:1 CAD:USD.

Dec 6th, 2022 10:46 pm

#8

Piklishi: Deal Addict; Jul 25, 2015; 1980 posts; 1648 upvotes; Burnaby, BC

Dec 6th, 2022 10:46 pm

Had a bunch of coins but I do go to US and it was easy using the self checkout at Fred Myers to swallow all of them.

Find a friend who travels to US and they can exchange them in US banknotes for you. How many coins are we talking? 100 bucks worth?

+1

Dec 7th, 2022 8:49 am

#9

adrian2: Deal Addict; Feb 2, 2007; 1036 posts; 1010 upvotes; GTA

Dec 7th, 2022 8:49 am

Piklishi wrote: ↑ How many coins are we talking? 100 bucks worth?

The highest denomination US coin in common usage is a quarter.
20 quarters is a fistful and it's worth US$5.
The difference between US$5 and CA$5 is not worth creating a thread to discuss it, but this is RFD.

+1

Dec 7th, 2022 9:41 am

#10

unclefester: Sr. Member; Oct 7, 2013; 646 posts; 388 upvotes

Dec 7th, 2022 9:41 am

The Royal bank used to accept U.S. coin but that's a decade ago or more.

And even my go-to Vegas casino will not take loose change any longer at the casino cage.

Imagine that!!

Took about 50 dollars worth of rolled coin last trip but all they offer is one of those coin counting machines on the casino floor that keeps 10 per cent.

That's what I did the last time I cashed in my U.S. silver

+2

Dec 7th, 2022 3:21 pm

#11

DavidSan [OP]: Jr. Member; Apr 15, 2020; 114 posts; 25 upvotes

Dec 7th, 2022 3:21 pm

HammerRFDer wrote: ↑ Either post them on kijiji, or (I know you said you can't, but for others) do a border-city trip and open up a US$ account there and/or use them for tolls/purchases/etc.

What city are you in? Someone might be able to help you out for a much better exchange rate than 1:1 CAD:USD.

GTA area