Billions in old money in piggy banks and socks | Money

The euro was introduced almost twenty years ago, on January 1, 2002, in twelve countries, including the Netherlands.

It is not clear why the money has not yet been redeemed. It may be forgotten savings hidden under a mattress, for example. They can also be mementos from the pre-euro era. On average, per inhabitant of the European Union this is almost €20.

Snips and yellows

There are still about 25.6 million guilder notes in circulation, says De Nederlandsche Bank (DNB). They have a total value of €440 million. The number of guilder notes still in circulation has hardly decreased in recent years.

In 2009 the total value of the notes not yet exchanged was €502 million and in 2015 it was €462 million. It is not clear why the money was not redeemed. It may be forgotten savings hidden under a mattress, for example. They can also be mementos from the pre-euro era.

Usually marks

It is well known that the vast majority of the money is located in Germany. Cash is still popular there and it is still possible to exchange German marks at the Bundesbank. The German central bank has not yet set a time limit for this.

Countries such as France, Spain and Italy have already stopped exchanging old money. In the Netherlands, guilder banknotes of a value of ten guilders can be exchanged until January 1, 2032. Coins can no longer be returned to De Nederlandsche Bank (DNB). A guilder is worth about €0.45. DNB does not charge any costs for the exchange.

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