For some, it is already too late. However, others can still convert money into the old currency. Germans are the most fond of minting before the euro.
If anyone feels nostalgic for the lira, know that in Europe there are more than a few thousand people who would probably regret the currency before the euro. So much so that it chose to keep coins in circulation prior to 2002 (the year the single currency actually came into force) without moving forward with the exchange. Be careful, because it’s not just about nostalgia and collectors. Many people, in fact, Maybe they forgot to convert the old lira, but left large sums somewhere. Only after I realized it when it was already too late. At the moment, it is literally about throwing money away, since no coin or banknote can be converted from the old minting anymore.
Bloomberg recently tried the math to find that there are roughly $9 billion in national currencies out there. Fact includes of course All the European countries that made the fateful passageOr as early as 2002 or later. However, as mentioned before, these funds cannot be used because they are no longer convertible into the single currency. And even the hope that it might interest collectors in some way is very remote, as not all pieces can have a certain value. What do you do next? Good question.
Old coin money: who can still convert it
For the nose, the best solution is to close the tray and forget about it. If we were in the world of comics, someone like Rockerduck would eat his bowler hat thinking he lost money unnecessarily. But since biting the liver would be useless, those who could do nothing better take it philosophically and see it from a different perspective. For example, however, owning genuine pieces of currency that, year after year, You will grow old and gain historical value.
But be careful, because everyone is not running out of time. Distracted Italians will not be able to move forward on the exchange, since the possibility of converting the lira into the euro expired on February 28, 2012. According to Bloomberg, There will be about 1.2 billion The total euro in lira is still under the mattress of the Italians. Among the highest numbers in Europe, however, are second only to the old Spanish peso: there are still about 1.6 billion dollars.
But both Italians and Spaniards pale in comparison to the numbers in Germany. 6.3 billion of the total 8.5 billion of money in old currencies, in fact, will be in German marks. A character so brutal that it prompted experts to ask themselves the reasons for the existence of such an entity. In a way, it is as if German citizens kept their coins and banknotes in the hope that, sooner or later, they would come in handy to get the old coin back. But since the branding (like the lira, the peso, the franc, the florin and all other currencies) is unlikely to come back into force, the Germans can still change their money: One tick is exactly equal to 0.5113 euros.
A few more days also for the Portuguese: almost 260 million euros can be converted in escudos, in fact, until February 28, 2022. At the moment, one euro is worth about 200,482 escudos. The situation in Belgium is special, as its francs are no longer convertible with respect to currencies, While still for banknotesAnd (there are about 428 million euros). The same goes for Austria and its old shilling.
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