Reply to: Exchanging foriegn coins

[MarillionFan]

I honestly don't know. Some places I looked at require at least 5kg of coinage before they'll exchange it, implying that there is a need for decent volumes to make it viable.

I suspect, and it's really only a hunch, that where the currency is still legal tender then the coins will be sold on to the country they came from. If it's no longer legal tender then coins in good condition will get sold on to collectors and the bashed up ones will end up being sold as scrap metal.

So that would be an interesting logistical problem but an interesting one. I looked at a couple of these and they're offering 60% for the new coin machines. When you add in all the fees, you probably need a contact in each country/shipping etc.

Interesting to go into more detail.

[WTFH]

Might prove difficult to do, especially as the OP clearly lacks the varied vocabulary required to effectively use a search engine.

https://youtu.be/OqjF7HKSaaI

[MrMarkyMark]

I don't think I can stoop that low.

Might prove difficult to do, especially as the OP clearly lacks the varied vocabulary required to effectively use a search engine.

[WTFH]

Fine.

Can you simplify so that MF will understand it though

I don't think I can stoop that low.

[MrMarkyMark]

Having spent the best part of 5 minutes on Google (better search engines are available), I tracked down a story in the Mirror which was about selling them, not giving them to charity. From that story there was a link to a company who buys them, www.leftovercurrency.com and in their FAQ they say:

Fine.

Can you simplify so that MF will understand it though

[WTFH]

Having spent the best part of 5 minutes on Google (better search engines are available), I tracked down a story in the Mirror which was about selling them, not giving them to charity. From that story there was a link to a company who buys them, www.leftovercurrency.com and in their FAQ they say:

We repatriate most coins and notes back to the countries of origin, where we exchange them at the central bank through a formal process.

Notes and coins for which the exchange deadline has expired are organised into collections and lots, which we sell to collectors at trade shows and auctions.

We keep some notes and coins for our own personal collection. At Leftover Currency, we are coin & banknote enthusiasts, and members of the International Bank Note Society (IBNS).

[NotAllThere]

Personally I give that sort of stuff to charity.

For sasguru, "charity" is where you help other people..

"It's not that I can't help these people, it's just that I don't want to" - Volunteers.

[MrMarkyMark]

Yes, thats the machines they're rolling out. But where do they sell their currency?

Is everyone on here really thick? Surely one of you knows how this works in detail

Well, quite obviously you are.

Or you have trouble using Google

Funnily enough a lot of people have asked Just the same, LM has it pretty much right.

[ladymuck]

Yes, thats the machines they're rolling out. But where do they sell their currency?

Is everyone on here really thick? Surely one of you knows how this works in detail

I honestly don't know. Some places I looked at require at least 5kg of coinage before they'll exchange it, implying that there is a need for decent volumes to make it viable.

I suspect, and it's really only a hunch, that where the currency is still legal tender then the coins will be sold on to the country they came from. If it's no longer legal tender then coins in good condition will get sold on to collectors and the bashed up ones will end up being sold as scrap metal.

[MarillionFan]

I just give mine to charity. That's not "thick", or are you so morally bankrupt that you refuse to help anyone but yourself?

????

You really are some kind of low grade moron.

I'm asking about the process that the companies you give it to go through.

[Eirikur]

Pre Euro coins from Euro countries are not accepted anymore by national banks.So they have no value except scrap metal or collectors value Paper money I believe is still a few years possible to return to the national banks of euro countries

[WTFH]

I just give mine to charity. That's not "thick", or are you so morally bankrupt that you refuse to help anyone but yourself?

[MarillionFan]

This looks handy, will have to give it a try with some old coins I have

Fourex | Foreign Currency Exchange | Coins & Notes Accepted

Yes, thats the machines they're rolling out. But where do they sell their currency?

Is everyone on here really thick? Surely one of you knows how this works in detail

[ladymuck]

This looks handy, will have to give it a try with some old coins I have

Fourex | Foreign Currency Exchange | Coins & Notes Accepted

[MarillionFan]

They accrue them until a volume limit is reached then liquidate them. Older stuff I'm not sure though.

Sorry answer is too vague.

How, with whom and is it different for each currency?