How do foreign coins get into bank rolls?

Just this week I received a 10cent Euro coin from Ireland in change. I kept it of course, even though it has no numismatic value. Maybe the question should be reversed. Since there is so much global travel and commerce these days, why don't we find more foreign coins?

 

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Simple answer, because the canadian dollar is worth about 94 cents US. Very close to being on par. The Mexican peso on the other hand is worth about 8 cents

 

All the more reason you'd think more people would try to pass them off in change and bank rolls.

 

That reminds me of a problem years ago in the UK with the British pound coin. There was at least one other coin, the one I'm thinking of is the Swaziland Lilangeni, that is the same size, thickness, and weight (was made from the same planchet), but a fraction of the value. Very popular in British vending machines.

 

Yes, but if someone gets a coin that is "worth" 94% of what it is supposed to be worth they are much more likely to let it slide because they can probably easily pass it along. If it is only worth 8% of what it is supposed to be they are much more likely to object and return it to the person trying to pass it off on them. Same for banks that get them in rolls. If they get Canadian they may not go after the depositor who included them in the roll, for the same reason, they can probably pass them on. But they will probably go after people who include Mexican coins in their rolls.

For this reason it is MUCH more difficult to get Mexican cons into circulation and why they are rarely if ever seen. If their value was higher I think we would find more of them in circulation.

 

No one is suggesting anyone would accept 1 peso for 1 dollar. My point was that they don't accept them as legal tender even AFTER adjusting for the exchange rate.

I wouldn't accept a Canadian dollar as one dollar, unless I want to lose 6% plus.

I think the issue here is that people have confidence in the economic sanity, stability, future, and fidelity of Canada, and will accept coins at the accepted exchange rate.

 

Let's not forget that Canadian coins are the same size and diameter as American coins. (even if they weight less). Mexican coins are of different sizes and as such, would be harder to pass off in circulation or rolls.

 

Most people wouldn't and Canadian dollars rarely circulate here. But for a quarter you are being shorted roughly 1 1/2 cents. Do you make a fuss over that much? And for a Canadian ten cent you are being shored about a half cent, a five cent piece represents a loss of three tenths of a cent and a Canadian cent is six hundredths of a cent that you have been shorted. Now sure if someone gives you a roll of them you will squawk but if you just get the occasional one in change you are most likely going to let it slide because it isn't worth the energy to make the fuss. so for the most part we just accept them at par since they nearly are and go on. But for he Mexican the difference is so great that you WOULD have calculate the exchange rates and that is just asking too much, so it is just easier to refuse.

 

In the Euro zone, some people have been using Thailand 10 Baht coins as 2 Euro coins fairly successfully. And it's no wonder, since they do look alike and as a 'bonus', 10 Baht is worth just ~0.20 euros.

-JJ-

 

And their makeup and weight is so similar that in some locations, vending machines accept the 10 Baht. Imagine getting your soda for 10% its posted price!

 

After some very poor serves at ihop I tipped in French franks. So if you find one in your quarter roll, you know whom to blame.

 

I find lots of American coins here, but I have found a coin from Cyprus in one of my bank rolls