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 Replies: 9 / Views: 1,965 |
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Valued Member
United States
62 Posts |
Purchased a large lot of German coins, and I was wondering if the coins have any cash value? Was there a window that was open right after the conversion to the Euro, and has closed?
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Moderator
 Australia
16812 Posts |
Commercial banks are no longer required to accept them (though they may choose to do so, especially for account-holders). The German central bank, the Bundesbank, has guaranteed not to "close the window"; they will continue to exchange marks into euros with no set redemption time limit. Bundesbank FAQ page. This is why bulk German mark coins and notes still sell for big bucks, while bulk French franc coins and notes sell for scrap value only. Note that this exchangeability only extends to the post-1948 coins and notes of West/Federal Germany. East German money and German money from WWII and earlier is of collector value only. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
230 Posts |
Thanks for the info, Sap. I have a face value of 36 Marks lying around and it's good to know they are still redeemable.
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Valued Member
 United States
62 Posts |
Sap - Thanks for the response and the link. I have a number of these, and I just put them all into 2x2's, I may see if I can get in touch with the bank and set up a transfer.
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Pillar of the Community
Serbia (Srbija)
576 Posts |
I thinks that you can get 0.4 - 0.5 euro for one Deutsch mark.
My collection on Numista page: 7500 different coins and counting... https://en.numista.com/echanges/pro...hp?id=129798 |
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Pillar of the Community
Luxembourg
588 Posts |
1 euro equals 1.95583 Deutsch Mark.
You can indeed only exchange them at the Bundesbank.
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Pillar of the Community
United States
3486 Posts |
Note to Sap,
Only this past week I went through many of my German coins and I thought:
"So sad, these are no longer considered to be money."
Well, your post set me straight.
One of many lessons that I have learned during my brief membership here on CCF.
My thanks,
Matthew
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Pillar of the Community
Germany
1238 Posts |
No, the DM coins and notes are indeed "not money" any more. They ceased to be legal tender on 1-Jan-2002. But, just like every other coin or note issued by this country, you can still get them exchanged.
Side note: The redemption period for the French pre-euro notes is not over yet. You have almost another week - until 17 February. ;) In Italy, the redemption period (for both coins and notes) ended in December 2011; and in Greece (notes) and Finland (coins and notes) they will be over at the end of this month.
Christian
Edited by chrisild
02/11/2012 11:48 am
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Valued Member
Finland
294 Posts |
When I watch local bulk sets here I see a lot of German coins there. Even bigger 5 and 2 mark coins are quite common here. I have returned pre-euro banknotes to local cash exchange banks, but it is a pity that I can´t change foreign pre-euro coins there. Maybe I´ll get my trip to Germany paid when pulling off those marks of bulk sets;)
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Pillar of the Community
Germany
1238 Posts |
Almost every time I go to "my" local Bundesbank branch office (in order to pick up newly issued €2 commemoratives or €10 collector coins), I see people who want to get some DM cash exchanged. Sometimes it's even a bag full of Mark and Pfennig coins. :) Amazing where and how they still find them ... If you look at the link to the Bundesbank web site that Sap posted in an earlier message, you'll see that you can also mail such notes and coins. Problem is, with lots of coins the postage would probably be more than what you get. ;) Also, not every postal service allows you to mail cash; that is, doing that would be at your risk. And if you literally have a mixed bag of pre-euro cash, you can try services such as http://euromoney24.com/ But then you would still have to mail the money. Also, they only give you euros if the amount minus their fees is more than €25. Christian |
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Replies: 9 / Views: 1,965 |
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Posted 02/11/2012 02:17 am
