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Thursday, December 25, 2014
In 2001, the German mark was replaced by the euro – yet are still billions of discarded currency in circulation. To some extent serve notes and coins as souvenirs and even as an investment. A considerable part may have suffered a different fate.
Whether nostalgia, passion for collecting or pure forgetfulness: Several million DM notes and two dozen billion dollars coins are still in circulation – although the former German currency was replaced by the euro already in early 2002
. For almost 13 years, the D-Mark has served as legal tender – but the Germans still hoard coins and bills worth several billion euros. According to figures from the German Bundesbank end of November 2014. was around 169 million Deutsche Mark notes and a good 24 billion DM coins in circulation.
160 D-marks per citizen
The Bundesbank stresses, however: “The figures show that a large amount of D-Mark is already flowed back.” However, the still unreturned cash has a quite respectable total value of 12.9 billion marks (of which 6.1 billion Deutsche Mark banknotes in) or converted 6.6 billion euros. So that everyone hoards purely mathematically the nearly 81 million people in Germany old notes and coins in denominations of 160 D-Mark
First of all of the coins do not want to separate the people. In terms of the value of D Mark banknotes and coins for euro cash changeover end of 2001 were in November 2013, although only about four percent of banknotes in circulation -. as compared to 55 percent of the coins were not exchanged until today
According to a survey commissioned by the Postbank most people want for sentimental reasons not be separated from the old notes and coins: 74 percent of respondents consider the disused cash accordingly as a souvenir in honor of 24 percent collect it as an investment. And 22 percent of Germans have simply forgotten to exchange the old currency
treasure under the bathtub
The German Bundesbank can not definitely confirm that.:. “We can only speculate certainly plays and the collector motif or forget the simple or the loss of the deposited Deutsche Mark banknotes and coins of great importance. “
Because we repeatedly DM banknotes on by accident, as the Federal Bank reported. So heirs could not believe their luck when they came in the coal cellar of the inherited property on the D-Mark cash. Also long time were well hidden the bills that appeared in a renewal of the bathroom when the bath was removed
For collectors passion or nostalgia talking, that are for notes in particular the small denominations in circulation. Good 17 percent of the 10-mark notes and more than half of five (51 percent). And for coins of thumb: even those with a face value of 10 cent and below would probably not be exchanged due to their low value or be irretrievably lost. In addition, the Fed believed commemorative collectors hands.
More aboutLarger amounts of cash should estimate that the Bundesbank but be lost and abroad. Especially in the former Yugoslavia and its successor states and in other parts of Eastern Europe, the German currency was used in part as a second currency. In addition, the D-Mark had been used worldwide as a transaction and a store of value
The Federal Bank continued and indefinite replaced the old money for free in € -. Either at any of its branches or – in exceptional cases – post on the branch Mainz. Dispatch is, however, at the risk of the customer. From January until 2014 was 188,000 good time made use of the exchange offer – 818 times per business day. It notes and coins worth 101.9 million marks were drawn (52.1 million euros) from circulation – per business fell at the Bundesbank on average about 542 Deutsche Mark a
Source: n-tv.de
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