Foreign Currency

lottieholder

I've posted this on the Charities Board, but realise it may be missed by people who don't read it, so I'm posting again.

I recently started working for a charity in their Finance Dept. Mainly we deal with the cash collection part of the organisation. There is a ginormous bag of foreign currency in the safe that I have been told can't be cashed.

There must be someway that this can be used to the advantage of the charity.

I don't know how old some of the currency is or what currencies are involved as the bag is (as said before) large.

Any advice ?

Poosmate

It would help if you knew what the currencies are. I am guessing that they are European currencies (now covered by the euro).

If that's the case, then no you won't be able to cash them in now but you may be able to sell them on ebay to coin collectors.

You need to have a look and see what you have to work with.

Good luck with it anyway.

Poo

Just had a thought! If there are any euros even if they are only cents put them all together and then maybe if anyone who works there could exchange them when they are going to Europe, same for other currencies that are still legal tender in their own countries. I always find it annoying when getting to a different country and not having any loose change in the country's currency. My sister and I only had $100 bills on us when we went to Barbados - bit scary taking that kind of money out on your first night!

Hope that helps.

Poo

mongo_bongocat

I agree that ebay may be your best bet. You would be surprised what these coins can fetch. divide them into 'lots' (say around 100 coins each). pile them up and photograph them. Explain that it's a bit of a lucky dip (people love the idea that they might find a rare coin) and say that you don't know much about them.

Postage is paid by the buyer. Weigh your lots and go to the Royal Mail web site to figure out how much they'll cost (may want insurance as well depending on how well they do).

If you do sell them on ebay remember to send them very securely - jingling coins can be vey tempting to unscrupulous posties!