Currency Questions - Old Currencies

"What is this 2000 peso note worth?" is frequently asked here at American Currency Exchange. Unfortunately, the answer is, inevitably, "Nothing."

In 1996, the Mexican Peso was devalued and new money issued as 20, 50,100, 200, 500, and 1000 peso notes. The new notes are issued by "Banco de Mexico." Pre -1992 notes are exchangeable at the rate of 1,000 "pesos moneda nacional" for each new peso. At this rate, a 2000 peso moneda nacional note would currently be worth 2 cents, virtually nothing.

Other currencies have also been devalued, among them, the Turkish Lira, and the Romanian Lei. So it is especially important to call us at 248 203 9883 before making the commute to Birmingham, especially if we are at a great distance from your home. We should easily be able to tell you whether your notes are current by asking you a few questions about the notes.

After the forming of the European Union, those countries joining the union changed their currencies over to the Euro. Countries belonging to the European Union are:

Austria,

Belgium,

Cyprus (excepting Northern Cyprus),

Finland,

France (excepting New Caledonia, French Polynesia, Wallis & Futuna, Germany,

Greece,

Ireland,

Italy,

Luxembourg,

Malta,

Netherlands (excepting Aruba, and Netherlands Antilles),

Portugal,

Slovenia,

and Spain.

In all these countries, noting exceptions, the Euro is the currency used. Currencies which were used prior to the Euro are accepted at banks and most currency exchanges, but are bought back at a lower rate since they are no longer in use. Examples are the Italian Lira, the German Mark, and the French Franc. At some point in the future, these currencies will no longer be worth anything except for nostalgic value. Therefore, anyone possessing them should sell them back as soon as possible.

American Currency Exchange does currently buy back these outdated currencies notes at a competitive rate of exchange.

Countries not joining the European Union still hold their own currencies. These countries are:

Denmark, kroner

Sweden, krona

The United Kingdom, pound

Bulgaria, lev(a)

The Czech Republic, koruna

Estonia, kroon(i)

Hungary, forint

Latvia, lats (lati, latu)

Lithuania, litas (lital, litu)

Poland, zloty (zlotych)

Romania, leu (lei)

and Slovakia. Koruna (koruny, korun)

Among these notes, the Romanian polymer notes dated 2000-2003 may be redeemed without time limit at the rate of 10,000 old lei for 1 new leu. Older paper notes are worthless.

Another country, which has devalued its currency, is the Turkish Lira. Outmoded and mutilated noted can only be redeemed at the central bank. All Turkish notes in denominations of 50,000 and up are redeemable until the end of 2015, at the rate of 1,000,000 old lira for a new one.

The rule of thumb is: do a little research before you drive off to redeem your foreign currency. If it has been sitting in someone's drawer for years, it may not be worth enough to pay for the gas it would take to drive to the currency exchange. Even worse, it may be worth nothing at all.

Source by Margie Printz