Personal Finance

Where to Deposit USD Coins in USD Account in Canada

  • Last Updated:
  • Dec 8th, 2022 10:27 am
[OP]
Jr. Member
Apr 15, 2020
114 posts
25 upvotes

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?
14 replies
Newbie
Feb 22, 2022
31 posts
37 upvotes
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.
[OP]
Jr. Member
Apr 15, 2020
114 posts
25 upvotes
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
Newbie
Dec 1, 2022
13 posts
8 upvotes
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.
[OP]
Jr. Member
Apr 15, 2020
114 posts
25 upvotes
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..
Deal Addict
Jul 13, 2007
1174 posts
687 upvotes
Toronto
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.
Deal Addict
User avatar
Jul 25, 2015
1980 posts
1648 upvotes
Burnaby, BC
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?
Deal Addict
Feb 2, 2007
1036 posts
1010 upvotes
GTA
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. :twisted:
Sr. Member
Oct 7, 2013
646 posts
388 upvotes
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
[OP]
Jr. Member
Apr 15, 2020
114 posts
25 upvotes
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
Deal Addict
User avatar
Nov 26, 2011
3318 posts
693 upvotes
I’ve got a couple grand of $1 usd coins that I’d love to be able to cash in.
[OP]
Jr. Member
Apr 15, 2020
114 posts
25 upvotes
Rockdaddy22 wrote: I’ve got a couple grand of $1 usd coins that I’d love to be able to cash in.
Depending where you live, it might be worth it for you to drive across the border to spend/deposit it lol

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