With the Canadian dollar being roughly at par with the US dollar (and a brief stint above parity), it got me thinking.... if the Canadian dollar were to continue to rise in value against the US dollar, at what point would they stop accepting US coins at par in Canada? When a US quarter is only worth 22.5 cents? 20 cents? 15 cents? Would they change the mechanisms in vending machines to accept only Canadian currency?
For a long time when the Canadian dollar was only worth 60 US cents they would not accept Canadian coins in the states... and I would bet that in most places they still don't, but I think that has to do with the fact we are small (in population, and economy) and they are huge.
-KDH
2 comments:
hmm.. good point.. i didn't even think of that..
The City of Toronto actually had a discussion about upgrading their parking meters to reject US coins, but decided that it really wasn't worth the investment to save themselves the 1-cent that they'd lose on the occasional hoodlum.
On a separate note, I once rejected a 5-cent Canadian coin in the change I received from a vendor in the States.
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