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Foreign Currency Supports Charity
It is estimated that over $2 Billion in foreign currency is currently stored or saved in Canadian homes and businesses. This currency has no use or real value in Canada. As a result, foreign currency (notes and coins), pennies, and loose change are found in bags, boxes, envelopes, tea cups, jars and desk drawers. This leftover currency is not serving any purpose or realizing the potential value this currency could make in our communities.
Did you know?
Currency from travels and vacations can be donated to support The Children’s Foundation programs and help at risk children and youth, create employment, and assist in preserving our environment by recycling coins and notes that sometimes end up in the landfill.
Donations of currency are repatriated from countries all around the world. After being converted to Canadian currency, donations are then used to support programs for TCF.
This foreign currency, if donated – can help to make a tremendously positive and impactful difference in the community and help at risk children and youth.
In Hastings, Northumberland and Prince Edward County, there is an estimated $15 Million in foreign currency available for collection. Just imagine how this would impact children and youth in our community.
What we accept
Through our Currency for Kids program, The Children’s Foundation will accept all currency from anywhere in the world.
Who and Why?
Currency for Kids recycles by collecting and reducing waste. Through this program metal (from coins) and paper (from bank notes) would be recycled and used to support the communities we serve and support. This program will help keep foreign currency out of our landfills and help to keep our environment safer.
In addition, Currency for Kids helps to remove foreign currency from the Canadian currency supply. By removing foreign coins there is less confusion when determining if a coin is Canadian. Many coins from other countries do have a similar look as Canadian coins. These coins have no monetary value in Canada. With less foreign coins in the currency supply, less businesses will experience the monetary loss when a foreign coin is used to complete a purchase. The donated coins and notes will be put to an incredible use of supporting the community.
By donating something that has little to no value to TCF Currency for Kids, donors will be helping make a difference in a child’s life.
How to Donate
Donations can be mailed or dropped off to The Children’s Foundation office or to one of our community locations. No worries about using the postal system. The currency has no value at this time, the value is only realized after it is repatriated. For larger quantities, donors can contact the TCF office or a staff member or volunteer can do pick-ups of larger donations. The issuing of Charitable Tax Receipts could be provided upon request, if they meet the charity’s receipt issuing policy. For example, when the repatriated value exceeds $20.00 CDN.
The Repatriation and Donation Process
We work with an organization called Global Coin Solutions. They handle everything after the donation/collection has taken place; from pickup up the currency from us, sorting and documenting the currencies that are collected, repatriation of the currency (shipping foreign coin back to its home country), and finally reporting and payment. Sorting mixed currencies is manual work and because of that, GCS would manage this. They hire staff based on need, so more donations mean more employment opportunities.
Drop Off Address
363 Dundas St. W
Mon - Thurs
7:30 am – 4:00 pm
7:30 am – 12:00 pm