In November 2005, I enjoyed a memorable trip to Paris, Versailles, and the Normanday WW II sites - my first ever trip to continental Europe following a numbe of trips to Britain.
When I returned, I retained one 50 Euro note rather than changing it back to US$.
My 17-year old nephew is making a trip to France next month with his French class, and I would like to send him the 50 Euro note as a %26quot;bon voyage%26quot; gift to spend while in France.
I have heard from several sources that the European central banks %26quot;recall%26quot; their currency at periodic intervals and re-issue new currency to thwart counterfeiting -- thus, I%26#39;m not sure that my Euro note is still legal tender. I don%26#39;t wish to cause my nephew embarassment if he should attempt to use Euro currency which has been retired, hence my question in advance.
Some particulars on the 50 Euro note:
On the front of the bill appears the serial number, beginning with %26quot;X%26quot;; on the rear, it bears a date of 2002.
Thanks for your assistance.
(BTW: here%26#39;s a link to my photos from the trip if you%26#39;re interested ... I recommend viewing in the %26quot;Slide Show%26quot; mode):
http://community.webshots.com/user/roberc567
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Yes, it will. I%26#39;m afraid that your sources have twisted the information that they got.
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Don%26#39;t worry, at least untill 2010 there are no plans whatsoever of changing the euro notes and coins, it would be far too expensive and complicated.
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%26gt;Yes, it will. I%26#39;m afraid that your sources have twisted the %26gt;information that they got.
%26quot;it will?%26quot;
No. The concern is absolutely real, but with euros today, they are so far so good. I would not bet on the future, especially on the bigger coinage. Europe%26#39;s coinage has a long history of frequently getting counterfeited just as you have described. Those euro bills and coins are barely not more than about 7 years old now. Based on previous experience, it%26#39;s only a matter of time now before something there gets retired due to counterfeiting.
There is no embarrassment to fear. Just offer the currency and have a plan B if it gets handed back. If anything, the nephew will get the gift of cheap euros ($0.82 each maybe instead of the current $1.37+).
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Good to know we returned with over a couple of thousand of euros!
Had never heard of this before!!
What happens if you have retired currency?
Do you go to a main bank to get re-issued monies?
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If the current euros are replaced, I expect that the same routine will be followed as with the francs and other European currency. You%26#39;ll have to go to a central bank and exchange the old for the new. It%26#39;s irritating, but it doesn%26#39;t take long, and you don%26#39;t lose out on the value of the currency you%26#39;re holding.
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In the past, the %26quot;lifetime%26quot; of currency notes was about 20-25 years. I don´t expect it to be different with Euro notes, so you don´t have to fret for another decade or two. And as to counterfeiting, it is not a big problem (yet) - there are a lot of strong anti-counterfeiting features in the notes. It usually takes quite a while for the criminals to find out how to break them, and yet another while until the counterfeiting becomes so rampant (if at all) that issuing new notes becomes cheaper than law enforecement.
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Thank you both for the info! I had to go to the central bank for some old FF exchange! Thanks good to know you just don%26#39;t loose the value!
I have always brought home currency since we knew we would be returning to visit relatives and of course Paris!
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%26gt;In the past, the %26quot;lifetime%26quot; of currency notes was about 20-25 years.
%26gt;I don´t expect it to be different with Euro notes, so you don´t have to
%26gt;fret for another decade or two.
Switzerland seems to have a remarkable track record. But you%26#39;ll get exhausted searching for Swiss Euros...
Anybody remember how long the One GBP note lasted? Or how about that 10 franc coin that got retired? (They were good in 1986, and were worthless by 1991.) Banks did not redeem them for more than about a year or two after the notice went out.
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%26gt;Switzerland seems to have a remarkable track record. But you%26#39;ll get exhausted searching for Swiss Euros...
What does that have to do with the topic at hand?
%26gt;Anybody remember how long the One GBP note lasted? Or how about that 10 franc coin that got retired? (They were good in 1986, and were worthless by 1991.) Banks did not redeem them for more than about a year or two after the notice went out.
You can always find the one or the other exception, but will be still an exception. (What do they say about exceptions and rules...)
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%26gt;You can always find the one or the other exception, but will be still
%26gt;an exception. (What do they say about exceptions and rules...)
That is especially when ALL formerly non-euro coins and bills are no essentially worthless.
As for the remark about Swiss currency having had a remarkable track-record, a TA member in Switzerland was discussing how well European currencies have lasted. Perhaps they should have limited their scope of topic to Swiss currency alone, and not generalizing across Europe. You%26#39;d have to look back decades to find Swiss franc coins and bills that are no longer worth anything. THAT is a good track record. Of course, nobody will give you squat for 1980%26#39;s Yugoslavian currency now. If you want a phenomenal track record, you need to look at American coinage. Of course, as of late, American paper currency has had major problems. But the coinage...the only American coins that have had problems have been the gold coinage. Still today, you will get the price of gold on those counterfeits. Other American coinage as old as 1776 AD thereabouts, will still be worth at minimum, their face value.
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