old Canadian money

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mouses
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old Canadian money

Post by mouses » Mon May 29, 2017 4:00 pm

I was winnowing through old boxes of photos, etc. and came across a handful of Canadian dollars that someone brought back from vacation 50-60 years ago. At least one of them seems to have a photo of Elizabeth's father. Are these still valid, or has Canada gone through some currency upheaval since then?

If they're still valid, I'll mail them to a Canadian charity. I am sure trying to turn them into U.S. money would not be worth the effort.

Thanks.

student
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Re: old Canadian money

Post by student » Mon May 29, 2017 4:11 pm

I am sure that it is still valid. If they are in good condition, they may worth more than their face value.

Valuethinker
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Re: old Canadian money

Post by Valuethinker » Tue May 30, 2017 12:20 pm

mouses wrote:I was winnowing through old boxes of photos, etc. and came across a handful of Canadian dollars that someone brought back from vacation 50-60 years ago. At least one of them seems to have a photo of Elizabeth's father. Are these still valid, or has Canada gone through some currency upheaval since then?

If they're still valid, I'll mail them to a Canadian charity. I am sure trying to turn them into U.S. money would not be worth the effort.

Thanks.
Most countries tend to change the patterns due to counterfeiting etc. Canadian money is now plastic polymer.

Check Bank of Canada website re old notes.

http://www.bankofcanada.ca/banknotes/bank-notes-faq/

http://www.bankofcanada.ca/banknotes/ba ... st-series/

https://travel.stackexchange.com/questi ... dian-money

tim1999
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Re: old Canadian money

Post by tim1999 » Tue May 30, 2017 12:35 pm

I also have several hundred dollars in paper Canadian $1, $2, and $5 bills from the 1970s and 1980s that family friends from Canada gave me as a kid. I'm wondering what is the easiest way to either cash it in for USD or donate it to a charity that is willing to accept it and can turn it into a deduction on my federal taxes.

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SpringMan
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Re: old Canadian money

Post by SpringMan » Tue May 30, 2017 1:42 pm

They are worth more than face value because I believe they are 80% silver. Maybe some have numismatic value as well.
Best Wishes, SpringMan

Gill
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Re: old Canadian money

Post by Gill » Tue May 30, 2017 1:45 pm

SpringMan wrote:They are worth more than face value because I believe they are 80% silver. Maybe some have numismatic value as well.
They are paper bills!
Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal

rooms222
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Re: old Canadian money

Post by rooms222 » Tue May 30, 2017 1:48 pm

Selling them on Ebay is a good way to turn them into cash. I have purchased Canadian coins and banknotes. There is an active market. Depending on how much effort you want to put into it, you can maximize time, or money. If you wanted to maximize time, put them up for auction as one lot with a buy it now price of their face value (converted to USD) plus estimated postage and paypal fees. You can have a buy it now combined with an auction, and it may go for more then. If you wanted to maximize cash, you could put a reserve of the face value converted into USD and do an auction.

Here is a great article on the various ways to ship and insure purchases:
http://news.coinupdate.com/tips-for-shi ... ank-notes/

sport
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Re: old Canadian money

Post by sport » Tue May 30, 2017 1:49 pm

tim1999 wrote:I also have several hundred dollars in paper Canadian $1, $2, and $5 bills from the 1970s and 1980s that family friends from Canada gave me as a kid. I'm wondering what is the easiest way to either cash it in for USD or donate it to a charity that is willing to accept it and can turn it into a deduction on my federal taxes.
In my experience, you can exchange currency at your B&M bank. You will be charged an exchange rate plus a fee (or just a bad exchange rate). Coins are more difficult to exchange.

Valuethinker
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Re: old Canadian money

Post by Valuethinker » Tue May 30, 2017 3:52 pm

tim1999 wrote:I also have several hundred dollars in paper Canadian $1, $2, and $5 bills from the 1970s and 1980s that family friends from Canada gave me as a kid. I'm wondering what is the easiest way to either cash it in for USD or donate it to a charity that is willing to accept it and can turn it into a deduction on my federal taxes.
Check Bank of Canada website you may be able to get these exchanged at a Canadian bank bank branch.

Otherwise they probably have no legal value. This happens periodically when countries call in the currency and cancel it (sometimes because counterfeits are too bad, otherwise because of anti money laundering and anti tax evasion). Don't know that Canada has done that.

See B of C links posted above.

Valuethinker
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Re: old Canadian money

Post by Valuethinker » Tue May 30, 2017 3:54 pm

Gill wrote:
SpringMan wrote:They are worth more than face value because I believe they are 80% silver. Maybe some have numismatic value as well.
They are paper bills!
Gill
And Canada gave up silver coinage in the 60s from memory.

http://coinsite.com/canadian-silver-coins-1858-1968/

Valuethinker
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Re: old Canadian money

Post by Valuethinker » Tue May 30, 2017 3:55 pm

tim1999 wrote:I also have several hundred dollars in paper Canadian $1, $2, and $5 bills from the 1970s and 1980s that family friends from Canada gave me as a kid. I'm wondering what is the easiest way to either cash it in for USD or donate it to a charity that is willing to accept it and can turn it into a deduction on my federal taxes.
Note Canada no longer has $1 and $2 bills they have been replaced by the Loonie and Twonie coins, so for sure they can only be exchanged at a bank (if there).

And Canadian notes are plastic now (harder to forge & Longer lasting).

http://www.bankofcanada.ca/banknotes/bank-notes-faq/ interestingly says the notes are all still legal tender. Who knew?

I doubt a merchant would take one. Have to exchange them at a bank.

Valuethinker
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Re: old Canadian money

Post by Valuethinker » Tue May 30, 2017 3:58 pm

mouses wrote:I was winnowing through old boxes of photos, etc. and came across a handful of Canadian dollars that someone brought back from vacation 50-60 years ago. At least one of them seems to have a photo of Elizabeth's father. Are these still valid, or has Canada gone through some currency upheaval since then?

If they're still valid, I'll mail them to a Canadian charity. I am sure trying to turn them into U.S. money would not be worth the effort.

Thanks.
Turns out 1935 notes and later are still legal tender.

George VI came to the throne in 1936 from memory (Abdication Crisis - another thing Churchill was on the wrong side of history on ).

Ace1
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Re: old Canadian money

Post by Ace1 » Tue May 30, 2017 10:13 pm

Condition of the bills is everything.
You can go to coinsandcanada.com .... banknotes ... to get an idea of what they might be worth
to a collector.

Topic Author
mouses
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Re: old Canadian money

Post by mouses » Wed May 31, 2017 5:28 pm

Ace1 wrote:Condition of the bills is everything.
You can go to coinsandcanada.com .... banknotes ... to get an idea of what they might be worth
to a collector.
Thanks, I rummaged through that site. It looks like the 1954 one is worth maybe $1 :-) But the 1937 one might be worth something. I can't totally match it to anything on that section, so I emailed them.

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