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this post was submitted on 28 Jan 2024
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this is correct, yes
and afaik any entity with a banking license must trade whatever (perhaps within reason?) amount of 5c pieces for larger denominations, so it’s not like you couldn’t pay if you only had bunch of 5c pieces; you just have to do the work to convert it to something less annoying
In Canada, above a certain amount they need to be in rolls. But rolling machines are also a thing, though there's a limit to how fast you can feed them.
If you found yourself in possession of Scrooge McDuck's pool of coins, you might not be able to convert it all in one trip, but you'd be able to spend it all eventually.
The Canadian currency act, where those limits are stated, is silent on the subject of rolls.
Ah thanks for the correction. I must have mistaken a convention or specific business' policy for law.
I can’t speak for Canada, but in the US some banks require rolls while others require loose. The bank I worked for we required loose because we put them through a machine coin sorter. Smaller banks the tellers sometimes have to hand roll coins themselves so if you’re bringing in an excessive amount they have bank policies that it must be rolls. On the other hand we would have to break open any rolls you brought in because it’s very easy to fake rolled coins.