Thursday, December 25, 2014

Forgotten or bunkered: Also in 2014 12.9 billion marks in circulation – ABC Online

Forgotten or bunkered: Also in 2014 12.9 billion marks in circulation – ABC Online

Thursday, 25.12.2014, 10:54 am
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For almost 13 years, the D-Mark has served as legal tender – but the Germans still hoard coins and bills worth several billion euros. Especially from coins, people do not want to separate tags.

According to figures from the German Bundesbank end of November 2014. was around 169 million Deutsche Mark notes and a good 24 billion German -Mark coins in circulation. The Bundesbank stresses, however: “The figures show that a large amount of D-Mark is already flowed back.”

However, the still unreturned cash a quite remarkable total value of 12.9 billion D- Mark (of which 6.1 billion DM banknotes) or the equivalent of 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 German marks.



55 percent of the coins still not exchanged

In particular, the Coins want people do not separate: Based on the value of the D-Mark banknotes and coins for the euro cash changeover end of 2001 were in November 2013, although only about four percent of banknotes in circulation – compared to 55 percent of the coins were not exchanged until today .

According to an Emnid survey commissioned by Postbank most people for sentimental reasons, do not want to part with the old coins and banknotes: 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

Again and again, DM banknotes by accident

The German Bundesbank can not definitely confirm that.: “We can only speculate. Certainly the collector motif or the plain forget collectors motif or the plain forget or loss of the deposited Deutsche Mark banknotes and coins plays a big role. “

Because we repeatedly DM banknotes by accident, as the Bundesbank 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.



commemorative collectors hands

For collectors passion or nostalgia is the fact that in the notes especially the small denominations are still in circulation: As many as 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.

Larger 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

Currency Exchange unlimited and free of charge

The Federal Bank continued and indefinite replaced the old money for free in € -. Either directly one 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

. Video: The immortal German Mark

D-Mark – The immortal German Mark

 

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