Global Coin Solutions is an Ontario based company specializing in cash management and foreign currency fundraising. The founder, Scott Hutchings, estimates that there is between two and three billion dollars in foreign currency in Canada that is not being utilized. The company has processed around $25 million through its Toronto facility, with the majority of funds going to charities. Hutchings emphasizes the importance of repatriating the foreign currency back to the country of origin once it has been processed and verified. The company charges a fee for their services, with the remainder going to the charity.
The company follows an ‘Any currency, any amount’ approach, accepting donations from various charities. Once the funds are received, they are documented, weighed, and organized before being sent back to the country of origin. This process, known as repatriation, ensures that the money is put to good use in the intended location. Global Coin Solutions has partnered with children’s charities in Ontario through their Currency for Kids initiative. Proceeds from this partnership are distributed to a dozen children’s aid foundations in the province. The initiative has successfully processed over $50,000 worth of currency, with hopes of encouraging more people to donate their foreign coins.
The partnership between Global Coin Solutions and children’s charities in Ontario has been met with positive responses from donors across the country. Many individuals who were initially planning to discard their foreign currency have instead chosen to donate it to the cause. Walter Noble, the executive director for the Children’s Aid Foundation of Ottawa, has highlighted the impact of these donations on the organizations they support. The success of the Currency for Kids initiative demonstrates the potential for unused foreign coins to make a meaningful difference in the lives of children in need.
Scott Hutchings, the founder and president of Global Coin Solutions, has emphasized the importance of utilizing foreign currency to benefit those most in need. He believes that there is a significant amount of untapped potential in the billions of dollars of foreign currency circulating in Canada. By repatriating these funds and redirecting them to charitable organizations, Global Coin Solutions aims to make a positive impact on society. The company’s meticulous process of sorting and processing foreign currency by hand ensures that every donation is handled with care and integrity.
The success of Global Coin Solutions’ initiatives, such as the Currency for Kids partnership with children’s charities, highlights the power of unused foreign coins to support meaningful causes. By collecting, processing, and repatriating foreign currency, the company is able to transform overlooked coins into valuable resources for charities. With a focus on transparency and efficiency, Global Coin Solutions has become a trusted partner for charitable organizations seeking to maximize their fundraising efforts. The company’s dedication to making a difference through innovative cash management solutions sets it apart in the industry.
Overall, Global Coin Solutions’ commitment to repatriating foreign currency and supporting charitable causes reflects a larger mission of social responsibility and community impact. By leveraging the unused wealth of foreign coins, the company is able to facilitate donations that benefit vulnerable populations, such as children in need. Through partnerships with charities and a dedication to ethical business practices, Global Coin Solutions is leading the way in transforming spare change into meaningful change. As the company continues to expand its reach and influence, it sets a powerful example for how businesses can make a positive difference in the world.
