Dwayne63 Posted March 11 Share Posted March 11 I just recently inherited a good amount of Canadian pennies. I have a lot from the 1970s - the present. I know that there is not a lot of value to them, so I am looking to cash them out. One major bank will not take coins; only currencies. I live in Chicago and am looking for ideas and/or solutions to cash out these pennies. Thanks. Link to comment Share on other sites More sharing options...
Greenstang Posted March 11 Share Posted March 11 (edited) Welcome to the forum Depends on what you mean by a good amount. A couple of hundred, a couple of thousand? I don’t think that a US bank will accept them and in Canada the banks will only accept them if you have an account as they have to return them to the mint seeing that they were discontinued in 2012. There is probably not anything there that would be worth more than face value ( except for the copper ones) unless you can find one with a major error. Perhaps a coin dealer might buy them at face value and he could put them in his bargain box. Don’t forget they are only worth 3/4 cent US. PS. I have asked the mods to move this to the Newbie Forum, this forum is for registered sets. Edited March 11 by Greenstang Link to comment Share on other sites More sharing options...
Dwayne63 Posted March 17 Author Share Posted March 17 Thanks for the info. I have an appointment at CIBC in Chicago. They are willing to talk with me about the pennies, and if they will take them. Also, I looked at the Department of Treasury website and they indicated that if the value of a foreign coin is less than a penny, then the exchange rate is a penny. Though you stated that a Canadian penny is only worth 3/4 of a cent, the exchange rate shows them at 0.82 of a cent. Link to comment Share on other sites More sharing options...
Sandon Posted March 17 Share Posted March 17 On 3/17/2024 at 11:24 AM, Dwayne63 said: Though you stated that a Canadian penny is only worth 3/4 of a cent, the exchange rate shows them at 0.82 of a cent. The exchange rate changes daily. Link to comment Share on other sites More sharing options...
Dwayne63 Posted March 17 Author Share Posted March 17 Yes, that I do understand; however, the fluctuation is not great. Link to comment Share on other sites More sharing options...
RWB Posted March 17 Share Posted March 17 Check their value as scrap metal. Link to comment Share on other sites More sharing options...
Dwayne63 Posted March 17 Author Share Posted March 17 Sure, okay. Link to comment Share on other sites More sharing options...
powermad5000 Posted March 17 Share Posted March 17 Hello and welcome to the forum! I also live around the Chicagoland area. If you don't have any luck with CIBC, and you are willing to wait for a little bit, the CSNS coin show is taking place the first weekend of May at the Schaumburg Renaissance Convention Center. There are World Coin dealers there who would probably be willing to take all of them off of your hands. You could also spend some time walking the bourse and might find other things that interest you while you are there. You didn't indicate if you are a collector or just inherited these pennies and are looking to cash out. You could also try two other places in the Chicago area, Kedzie Coins, and the other one more likely to touch foreign currency would be Harlan J. Burke Rare Coins on Clark Street downtown. Link to comment Share on other sites More sharing options...
