Up until the late 1970's, it was possible to exchange Canadian $100 bills for par value at table games in most Reno casinos. When I first became aware of it, it cost $93 to buy a Canadian $100. But the exchange for par lasted even when the Canadian $100 had sunk to $85 US.
I would order $10K in Canadian for $8500, and have a $1500 head-start on my Reno trips. I was primarily a blackjack player at the time, but I realized it would be easier and faster to turn over more $100's by playing the Don't Pass line in craps, making $25 bets and taking full odds. I might get $4-500 on the layout before any bet was resolved. Once all the Canadian was converted, it was on to the BJ games.
When the exchange rate hit $83, casinos began to stop accepting Canadian at the table. The last time I arrived with $10K Canadian, summer of 1978 I think, it was challenging unloading all the Canadian at the one remaining place that accepted it at par.
There was at least one Las Vegas casino that accepted Canadian for par value at the tables, and it was the first place I saw it done. This was the small Holiday Inn casino on the strip. I was playing single-deck BJ there when someone joined the game and threw a Canadian $100 on the table. The dealer gave him $100 in chips, and I couldn't wait to get home and find out how much a Canadian $100 was worth.
--Dunbar
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Posted by: h_dunbar@hotmail.com
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