A comparison of prices customers were charged on October 16, 2017 by Liberty Coin Service and by the foreign currency exchange service at Detroit’s Metropolitan Airport showed that buyers could get up to 22% better prices at Liberty in small transactions and up to 11% better prices in larger exchanges.
Said LCS CEO and owner Tom Coulson, “When LCS Communications Officer Patrick A. Heller passed through Detroit Metro on the morning of October 16, he snapped a photo of the selling prices for ten different currencies on a sign at the foreign currency exchange service there. After he returned, we compared what customers would pay there compared to our own charges for the same currency. When you factor in the $9.95 transaction charge at Detroit Metro on top of the exchange rate, Liberty’s rates provide customers 18% to 22% more foreign currency for expenditures of $100 and 7% to 11% more foreign currency for purchases of $1,250 US. Even not including the transaction fee, which Liberty does not charge, Liberty provides customers more currency for every currency compared.
Here’s how many units of the foreign currency that customers would have received on October 16, 2017 for total expenditures of $100 US and $1,250 US:
$100 US at LCS $100 US at DTW $1,250 US at LCS $1,250 US at DTW
Brazil Real 285 237 3,563 3,272
British Pound 70.68 57.63 883.53 793.63
China Yuan 599 500 7,489 6,885
Canada Dollar 118.24 96.50 1,477.95 1,329.33
Euro 79.73 65.44 998.67 899.78
Japan Yen 10,540 8,557 131,759 117,844
Mexico Peso 1,745 1,460 21,817 20,115
South Korea Won 101,225 85,102 1,265,323 1,171,923
Taiwan Dollar 2,691 2,276 33,647 31,354
Thailand Baht 2,964 2,497 37,057 34,400
Liberty Coin Service regularly stocks for immediate delivery the British Pound, China Yuan, Canada Dollar, Euro, Japan Yen, and Mexico Peso. If it does not have the other currencies in stock, it can order them for delivery in 1-4 days. Liberty also regularly carries inventories of currencies for Australia, the Czech Republic, Denmark, Hungary, Iceland, India, Israel, New Zealand, Norway, and Switzerland. Customers do not need an account to purchase foreign currencies but must make payment in cash. For transactions of US $1,000 or more, the purchaser must show a passport or supply a Social Security number. Liberty’s current buy and sell prices for foreign currencies are posted online at http://libertycoinservice.com/wp-content/uploads/quotes/foreign_exchange.pdf.
Frequently-honored Liberty Coin Service, founded in 1971, is Michigan’s largest rare coin and precious metals dealership. It has been located in Lansing’s Frandor Shopping Center since 1975. Store hours are weekday 9:30 to 6:00 and Saturdays 10:00 to 2:00.