Why do money changers don't accept foreign currency coins?

@beamer88 (4259)
Philippines
January 29, 2011 3:06am CST
My foreign currency coins are beginning to pile up. I can't exchange them through our money changers. Do banks accept them? I don't think there are any BSP circulars that say we can't exchange foreign currency coins.
2 responses
tanyamean
@tanyamean (295)
• Philippines
29 Jan 11
hi beamer88..know what you I have a canadian coin dollar that was changed to me by some store I can't remember.Some guy who makes rings and jewelries once offered to buy it for 200php ..I was tempted but I did not sell it because I think of it as my good luck coin now.lolz.I wish they accepted coins too so we could like have an exchange money for those we have kept.
beamer88
@beamer88 (4259)
• Philippines
29 Jan 11
Yeah, our lawmakers should obligate these moneychangers and the banks as well to exchange any denomination as long as the foreign currency is convertible with the Central Bank of our country.
petersum
@petersum (4522)
• United States
29 Jan 11
Basically coins aren't worth anything in your own currency or anyone elses! But if you keep them long enough, they will have value. Perhaps not the collector's value you might be imagining, but simply a scrap metal value. As an example, any nickel coin (that's real nickel metal!) has quite a high value regardless of it's condition. Perhaps one day soon, we will be scraping the copper plating off of steel US and Euro cents, and UK pennies!