Deutsche Marks From A Thrift Shop - Coin Community Forum

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Author	Replies: 7 / Views: 3,513
findgoldsilver New Member 18 Posts	Posted 06/09/2013 9:36 pm Picked these up at a thrift shop last weekend, they were marked $10 but I was able to talk them down to $6 =) Report this Post to the Staff

marz Valued Member United Kingdom 116 Posts	Posted 06/10/2013 8:13 pm The 5 Mark is silver... not a bad lot for 6 bucks Report this Post to the Staff
findgoldsilver New Member 18 Posts	Posted 06/10/2013 10:47 pm I wasn't sure when I bought them if the 5 mark was silver or not! It had the right look and feel to it though, so I went out on a limb and bought the coins. Turns out it has a melt value of just under $5, so I was pretty happy with the purchase. Report this Post to the Staff
Sap Moderator Australia 16826 Posts	Posted 06/11/2013 02:48 am German pre-euro coins are holding their face value compared to, say, French pre-euro coins, which have fallen to scrap metal value. That's because Germany has given unlimited time to exchange deutschemarks for euros; French francs have already "expired'. 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 Report this Post to the Staff
chrisild Pillar of the Community Germany 1238 Posts	Posted 06/11/2013 03:03 am Well, those coins have a face value of 8.68 DM - which is €4.44, or $5.88 (US) or 6.18 (AU) if you took or sent them to the Bundesbank. Don't know what a silver melter would give you for the 5 DM piece, but I am pretty darn sure that the scrap value is higher than that ... In many countries around here it is perfectly normal that old coins lose their value as means of payment after a certain redemption period. In fact, of the 17 euro countries, only five have an unlimited redemption policy for both coins and notes (at least for those coins and notes that were legal tender until the euro cash introduction): Austria, Estonia, Germany, Ireland, Spain. And since the end of such a redemption period hardly ever comes out of the blue but is usually announced well in advance, I don't see what the problem is. You may want to set some reminder in your calendars, e.g. 1 March 2022 - Portugal/notes or 1 January 2032 - Netherlands/notes. :) Christian Edited by chrisild 06/11/2013 03:08 am Report this Post to the Staff
findgoldsilver New Member 18 Posts	Posted 06/11/2013 10:03 am Yes, I love purchasing marks, irish pounds, and other old european currencies that are indefinitely convertible to euros. I mostly pick them up at pawnshops, yard sales etc. People are usually willing to let them go at very significant discounts. I call this "Yard Sale Forex" Report this Post to the Staff
SeriousCERES Valued Member United States 365 Posts	Posted 06/11/2013 2:08 pm I took a bag of DM in to the national bank in Berlin last year (happened to be going) and there was an impressive line of people there to exchange old DM for Euros and to buy the latest commemoratives. To top off the pleasant experience, the euro coin I got in change were brand new from the mint! Report this Post to the Staff
realeswatcher Pillar of the Community United States 1962 Posts	Posted 06/11/2013 2:25 pm "German pre-euro coins are holding their face value compared to, say, French pre-euro coins, which have fallen to scrap metal value." When nickel prices were riding high a few years ago, there was actually a nice scrap demand for the French post-1960 1/2F, 1F, and 2F, which are pure nickel... believe it was approaching what their face value was per the fixed French franc to Euro exchange rate, esp. for the relatively larger clunky 1/2F coin. Report this Post to the Staff
	Replies: 7 / Views: 3,513

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