Saturday, December 17, 2016

Cash: German horten almost 13 billion Mark, THE WORLD

Since almost 15 years, is the D-Mark are not legal tender any more, but the German horten is still coins and Bills worth several billion euros. According to Figures of the German Bundesbank, 167 million Notes and 23.5 billion coins from the period were the end of November, prior to 2002, in circulation. Back the money, hardly anyone is. Never before have so few D-Mark-rest of stocks were exchanged in the branches of the Bundesbank in the Euro as of 2016.

as a forced exchange, in order to draw the missing coins and Banknotes from circulation, the Bundesbank still nothing. In the Wake of the introduction of Euro cash had been decided that the D could be exchanged, Mark is indefinite.

“A currency lives from the trust and, therefore, we see no reason to say that this decision to abandon,” said the for coins and Bills the responsible Federal Bank Executive Board member Carl-Ludwig Thiele of the “world on Sunday”. In addition, you should let the undoubtedly high Numbers fool you. More than 95 percent of the D-Mark notes and coins were exchanged.

it has, However, not returned cash to a considerable amount of the total value of 12.73 billion DM, which is equivalent to 6.51 billion euros. In purely mathematical terms, each of the 40 million private households in Germany has, therefore, still have old Notes and coins to a value of 310 DM.


especially coins should still be in lots of cans, boxes and old purses. Only two percent of the value of the once – banknotes in circulation – or 5.99 billion DM, but still just under 56 percent of the coins were missing. You have a value of 6,74 billion DM.

Federal Bank Board of Directors Thiele, many of the 10-penny – and even smaller coins for “lost for keeps”. They would be exchanged due to their low value, probably never, and yet several billion lying around. In addition, Thiele pointed to the Collector’s motivation. The 5 – and 10-DM commemorative coins are firmly in collectors hands.

Then there are the cash holdings abroad. There, too, the Bundesbank assumed larger quantities. In the former Yugoslavia and other Parts of Eastern Europe, the D would have served to Mark temporarily as a second currency. “In addition, it has been as a transactional and store of value, medium used,” says Thiele.

Convert popular

especially the 1000 dollar bill was very popular – both for legal and illegal purposes. The high demand for the greatest of all Certificates showed that there was the 1000 once 89 million Times and as often as 200 and 500.

The solidarity of the German people to their DM-Mark not only because many keep them, apparently as a souvenir to home. In this year’s survey also revealed that many of the thoughts can still leave her. Almost every Second attributed, at least in larger amounts in euros on the price signs in the D-Mark. Across all age groups is 45 percent. This is a slight decrease compared to the previous years, in 2014 there were still 51 percent, in 2015, 47 percent.

Naturally, it are especially the Elderly, presenting the amounts in D-Mark. At least half of the more than 40-Year-old converts larger amounts of thoughts in D-Mark. In the group of under 30 Year olds is it any Fourth – what is surprising, however. Because customer 20 is likely to have no or little memories of the former Notes and coins.

Why is the Germans always have more cash at home hoarding

Average 1800 euros – so much now has stashed away every German in his piggy Bank. But why would the Germans really have more cash at home?

source: The world


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