Ever wondered if you’ll walk out of a currency exchange with only crisp dollar bills after handing over 16 euros, or if you’ll also get some jangling coins? This article digs into the nuts and bolts of small-sum currency exchanges, showing what really happens at the counter, why coins are almost always involved, and what sneaky details—like exchange rates, fees, and local rules—can change the game. Along the way, I’ll share my own travel misadventures, expert opinions, and even compare how different countries handle these everyday transactions.
Picture this: I’m at JFK Airport, clutching 16 euros left over from a Paris layover, determined to swap them for dollars before heading home. I imagine the cashier sliding a perfect $20 bill across the counter. Instead, reality hits—after a few quick taps on the calculator and a silent stare, they hand me a wrinkled $10 bill, a $5, a few coins, and a receipt that makes my brain hurt. Did I get short-changed? Why all the coins? That day, I realized it’s never as simple as “euros in, dollar bills out.”
This article is for anyone asking: if I exchange 16 euros, will I get only US bills, or will there be coins? And, how precise is the exchange process—do they round, or do they make up the difference in coins?
Let’s walk through the process, with some screenshots from a recent exchange at a major US bank (source: Bank of America).
In short: unless your post-fee USD amount is an exact multiple of $1, you’ll get coins along with your bills.
I tried this at Charles de Gaulle Airport. With 16 euros, the posted rate was 1.06, minus a 5% fee. The math:
I asked the teller, “Can you give me only bills?” She said, “We can, but we’ll round down to $16, you lose the 11 cents.” Not ideal, but at least it’s clear: coins are standard unless you accept a small loss.
According to the US Federal Reserve, currency exchanges are free to pay out in any legal tender combination. There’s no US law requiring them to provide bills only, and most will use coins to complete the amount unless specifically requested otherwise. The US Financial Crimes Enforcement Network (FinCEN) also regulates currency exchanges for anti-money laundering purposes, but not for the denomination mix.
The OECD offers guidance on cross-border currency practices, but leaves denomination policy up to local institutions.
Country | Exchange Law | Denomination Policy | Regulator |
---|---|---|---|
USA | Federal Reserve Act; FinCEN Guidance | Any legal combo; coins used for non-round amounts | Federal Reserve, FinCEN |
UK | Money Laundering Regulations 2017 | Bills for large sums, coins for small change | Bank of England, FCA |
Japan | Foreign Exchange and Foreign Trade Act | Bills preferred, coins below ¥1,000 | Bank of Japan, FSA |
EU | EU Payment Services Directive | Any legal tender; coins common for under €10 | ECB, local central banks |
Source references: Federal Reserve, FCA UK, FSA Japan, ECB
I once chatted with a senior manager at Travelex (she asked not to be named for this piece), who explained: “Customers rarely ask for just bills, but when they do, we’ll round the amount—usually down, never up. For small sums, coins are standard. It’s easier for the teller, and most clients just want the full value, not to lose a few cents.” This matches what I’ve seen on travel forums like FlyerTalk—where seasoned travelers swap stories of collecting handfuls of foreign coins after every trip.
So, will you get only bills for 16 euros? Unless the USD equivalent is a round number after fees, coins are almost inevitable. If you really hate coins, you can ask the cashier to round down, but you’ll lose the difference—sometimes as much as $0.50 or more, depending on the fee structure. Personally, I’ve resigned myself to the reality: better to keep the coins than to lose out, unless I’m aiming for a minimalist wallet.
If you’re planning a trip or have leftover euros to exchange, my advice is:
For more on the rules, see the Federal Reserve’s FAQ and OECD guidance.
Bottom line: Coins are standard, bills-only is possible but will cost you a few cents, and the experience varies slightly by country and institution. Next time, maybe buy a coffee with those leftover euros before you fly!