Yes, I’m back in Switzerland and have been for half a week now, but I still owe you the following math problem.
If you go to a Japanese bank to buy four rolls of fifty five-yen pieces each, how much will that cost?
Yes, I’m back in Switzerland and have been for half a week now, but I still owe you the following math problem.
If you go to a Japanese bank to buy four rolls of fifty five-yen pieces each, how much will that cost?
The obvious answer is “too much,” but none of my math teachers would have accepted that.
Well, you didn’t show your work…
Well, this is too simple, so there must be a catch. 50 coins per roll, 4 rolls = 200 coins; 5 yen each = 1000 yen. So – what’s the catch? Do they no longer make 5 yen coins, so you are buying collector’s items and they charge a premium?
No, that’s not the catch. The catch is the service charge: total cost 1315 yen. Gotta love Japanese banks…
That is outrageous. Get them from a coin dealer next time, they’ll charge less!
The easiest solution would be to go to several convenience stores and ask for 5-yen coins. I’d probably save the 31.5% surcharge that way, but doubt that I could justify the walkabout for what amounts to 3-4 dollars. How much would a coin dealer charge?
Well, for rolls of state quarters in the US coin dealers charge $10.50 to $12.50 depending upon the state and mint mark. This is for a $10 roll. Of course you can get rolls of coins here from a bank at no premium if you don’t care about which state or mint you get.
I tried to get my Japanese account closed, the account I used while an intern here. It took them half an hour to figure out that they couldn’t close it if I didn’t also bring my cash card and the stamp I’d used to open it (the stamp we made in one of our cultural experiences by scratching a block of soapstone). I left with a new ATM booklet, and the knowledge that I had gained some interest on my money, to the tune of 1 yen. Grand total in the account: 253 yen. I wonder how they justify spending that half hour…