Is this the reason we see so many Canadian coins in the US?

[clovis97]

I thought I would share an interesting story from years ago, maybe the early 1980's. I was just a kid in those days.

There used to be a guy that lived in our town that was fanatical about getting a "return on investment". To him, he didn't care what he was dealing in, just that he got a return.

Back then, the Canadian dollar, IIRC, was trading with the US dollar at about 70%, give or take.

His big grand scheme, back then, was to buy $300 worth of change in Canada per month, in various denominations, and bring it back home, where he would spend it. He would mix it in with US coinage and use it to pay bills, buy groceries, buy gas, or pay for a meal. His biggest trick was to leave all Canadian coinage as a tip for a waitress.

He had a good friend that traveled from Indiana to Windsor, Canada several times a month. This friend was his coin supplier. Back then, a drive to Windsor would have taken 7 or 8 hours by car, if not longer.

So old Ray figured he was making a 30% return on his investment. He was proud of this idea...we all thought he was crazy for doing such a thing back then, much like the average person might look at us CRHer's today.

He was also CRH back then, which we thought was crazy too, since silver had such a low selling price.

I haven't received any Canadian coins in change in a very long time. It seems like the banks have hammered down on depositing foreign coins, and I'm told that virtually no vending machine will accept Canadian coins these days.

Nonetheless, there is not a time that I see a Canadian coin that I don't think of Ray, and wonder if he is the reason that that coin is so far away from its home.

Thoughts? Comments? Opinions?

 

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[ivan salis]

canada had silver in coins till 68 (50%- or 500) and from 1920 to 1967 --it was 80% (800) silver ----1919 and before candain silver coins were 925 (sterling silver) even better than the us coin at 900 silver

the reason you see so few canadain coins now is that the coins by and large are coated steel blanks and when they go thru coins sortsers they stick to magnets and are thus easily culled these days .

yes your freind ray was clearly a "hustler" -- odd that he left tips --since folks that hustle to that degree are normally very tight fisted cash wize. ( their not known to be "tippers" normally

in a way he was crazy like a fox --think if you got a 30% discount when you boughtt stuff for under a buck --of how much farther your money would go

 

[legend76]

I'm sure that explains part of Canadian coinage in the USA. Ol' Ray probably wasn't the only one that had that idea either. Interesting story

 

[Diver_Down]

A better reason is that the weather in Canada stinks. The south, especially Florida, is filled with them beginning in November. Thankfully, they flee the heat in April. When they come, they bring their change.

 

[apush]

LOL Diver_Down. Wanna see heat, come to Texas, too.

I get Canadian cents and nickels. Seems every box I get there area at least one or two. Not to mention the pesos--as one can imagine.

apush

 

[fistfulladirt]

When I run $500 of dimes through the counter, I will get half a roll's worth of canadians rejected to the cup. I get a solid roll every $1-1.5K. I just send 'em off with my daughter to pay for school things. ffd