Following yesterday's posting on pre Euro coins hoarded away this side of the channel, I thought I will give pre Euro banknotes a mention.
Following the switch over by some European Union member states to the Euro the banknotes issued by the central banks of those countries ceased to become legal tender overnight. However, each member state have set a time limit in which banknotes issued by their respective central banks can still be exchanged for euros. Something I am sure many people in the UK are unaware of. Throughout the UK there must be millions of pounds of old pre European banknotes tucked away in drawers doing nothing that can be exchanged for cash which would be a boost for our economy.
It is so easy to exchange the banknotes, first go onto the European central bank website and they will give the details of each central bank. From there it is just a matter of downloading a form from the relevant central bank and posting it off with the banknotes. Some countries do make it easy but some countries do make it hard, and it may be easier to sell the banknotes from some countries through dealers who deal in pre euro banknotes exchange, the only problem is the commission they take.
I have found that the Deutsche Bundesbank, the Netherlands bank and the Irish Central Bank the easiest and most efficient to deal with directly. Just remember that all pre euro banknotes that were legal tender at the time of the switch to the Euro can still be exchanged for euros.
Most countries the time limit is unlimited, below I have listed those whose time limit will end in the next five years.
France 17th February 2012
Italy 29th February 2012
Finland 29th February 2012
Greece 1st March 2012
If you cannot be bothered to cash them with the central banks or dealers the Red Cross will accept them or there is ebay.