Ever wondered if you can walk away from a currency exchange booth with crisp US dollar bills, no coins, when swapping 16 euros? This is a classic travel headache, especially for folks like me who get a bit obsessive about pocket change and hate those leftover coins after a trip. In this article, I’ll walk through exactly what happens, drawing on my own misadventures, official sources, and some expert takes on how currency exchange hands out dollars for small, odd amounts like €16. Plus, I’ll touch on the legal requirements, international standards, and even some surprising differences between countries. By the end, you’ll know what to expect and why you might still end up with jingling coins, even if you just wanted bills.
First off, before heading to any exchange counter, I always check the current EUR/USD rate. At the time I’m writing this, XE.com shows €1 = $1.08. So, €16 would be $17.28 before fees or commissions (XE Currency Converter, June 2024).
But here’s the catch: every exchange office sets its own rate, and they all skim a little (or a lot) off the top. When I swapped euros last year at JFK airport, their rate was €1 = $1.03, and there was a $5 minimum fee. A quick calculation: €16 x 1.03 = $16.48, then subtract the fee, and you’re suddenly down to about $11.48.
Now, say you’re at a Travelex counter in a major airport. You hand over €16 and they type away. They’ll first convert it using their own rate (let’s stick with $1.03 for this example), getting you $16.48. But US cash isn’t printed in $0.48 increments!
Here’s what actually happens:
So unless your exchanged amount is exactly a whole dollar, expect to get a mix of bills and coins. You cannot, at a normal exchange, specify “bills only” and expect them to round up or down just for you.
Let’s make it even more real. Last fall in Paris, I tried to swap €16 for USD at a Change Group kiosk. The posted rate was €1 = $1.05. Here’s the math:
€16 × 1.05 = $16.80
Commission: $3
Final payout: $13.80
What did I get? One $10 bill, three $1 bills, three quarters, and a nickel. The clerk apologetically explained, “We have to give the exact amount in US currency, bills plus coins. Unless you want to donate the coins to charity?” So, unless you’re donating, coins are inevitable if cents are involved.
I later checked with a friend working at an exchange desk in New York. She confirmed: “We’re required under US Treasury guidance (US Treasury FAQ) to pay out the exact converted amount, using both bills and coins. Only in rare cases, like in some hotels, do they round to the nearest dollar.”
To get a professional opinion, I reached out to Mr. Li, a veteran currency trader in Shanghai. He explained, “International standards, such as those specified by the ISO 4217, require that currency exchanges deliver the precise countervalue, unless local law permits otherwise. It’s about transparency and trust. In the US, the legal tender laws are clear—coins and bills are both valid for all debts, so exchanges must use both.”
But, he admitted, “Some countries, like Japan, are more likely to round small amounts to the nearest note, especially for foreign travelers. It’s practical, not legal.”
The US Treasury confirms that all US currency denominations (bills and coins) are legal tender for settling debts. There’s no official requirement to avoid coins when making payments or exchanges (source).
Globally, the World Customs Organization (WCO) and World Trade Organization (WTO) don’t regulate retail currency exchange at this level. However, the OECD sets standards for financial transparency, but not for specific payout methods.
So, unless you’re in a country where the law says otherwise, you’re getting bills and coins—unless the clerk decides to be generous, or you ask to round down (and lose a few cents).
| Country | Standard Name | Legal Basis | Enforcement Agency | Bills/Coins Policy |
|---|---|---|---|---|
| United States | Legal Tender Law | 31 U.S.C. § 5103 | US Treasury | Exact payout (bills + coins) |
| Japan | Currency Exchange Regulation | Act on Control of Foreign Exchange | Bank of Japan | Often rounded to nearest bill |
| European Union | MiFID II | Directive 2014/65/EU | National regulators (e.g., BaFin, FCA) | Exact payout (bills + coins) |
| Australia | Currency Act 1965 | Currency Act (Section 16) | Reserve Bank of Australia | Exact payout (bills + coins) |
Let me share a quick story from a travel forum (FlyerTalk thread) where a traveler swapped €50 for USD at a Frankfurt airport kiosk. The conversion was $53.15, but the clerk gave only $53, refusing to hand over the 15 cents. The traveler protested, but the counter had a sign: “No coins given for foreign currency exchange.” After some back-and-forth, the manager cited local business policy. Eventually, the traveler accepted the $53, but posted online, “Isn’t this technically short-changing?”
An industry insider responded: “In some airports, to speed up service and avoid managing coins, small change is withheld. Always check posted policies, and don’t be afraid to ask for the exact amount.”
After years of swapping currencies in airports, city centers, and even border towns, here’s what I’ve learned: If you exchange 16 euros for US dollars, you’re almost certain to get both bills and coins—unless you’re in a rare spot that rounds to the nearest dollar (and keeps the difference). This isn’t just habit: it’s the law in the US and many other countries.
The only way to avoid coins is to time your exchange so the converted amount lands on a whole dollar. Or, if you really hate coins, ask the clerk to round down and give you bills only—but be aware you’ll lose a few cents.
So, next time you’re queueing at the counter, don’t be surprised when you hear that familiar jingle in your pocket. That’s just how the system works, and unless you find a lenient clerk or a very tourist-friendly booth, coins are part of the deal!
If you want to dig deeper, check out the US Treasury’s statement on legal tender (link here), or read traveler experiences on FlyerTalk. And if you ever find a booth that gives only bills for odd amounts, let me know—I owe you a coffee!