More than half of all coins of the former German currency remain in the hands of people in various countries around the world
Thus, according to the German Federal Bank, approximately 168 million banknotes and 24 billion coins are somewhere lost on the face of the earth, totaling 12.9 billion Deutsche marks, or 6.6 billion euros. This is slightly less than the expenditure of the state of Berlin in 2015 on education, science, youth, and all social programs combined.
According to German bankers, about 4% of banknotes and as much as 54% of coins of the old currency still survive in the world. Moreover, even 14 years after the introduction of the euro in Germany, there is no particular activity in exchanging old German marks for the common European currency. Although money can still be exchanged at one of the 49 branches of the Federal Bank located throughout Germany. Bank employees accept any German banknotes and coins issued since 1948. Notably, the exchange rate remains the same as set in 2002: 1.95583 Deutsche marks per euro, without any commission.
From January to November 2015, Deutsche marks were exchanged for euros in Germany as many as 176,000 times. The total exchange amount was 98.7 million marks, or 50.5 million euros. In the same period of 2014, the old German currency was exchanged for the new one approximately 188,000 times – for a total of 101.9 million marks, or 52.1 million euros.
According to the Bundesbank, the German mark was widely used in the former Yugoslavia and some other Eastern European countries. Bankers believe that it is there that a significant part of the money supply apparently remains to this day. True, Germans themselves also have old money stashed away. Moreover, it is not only about nostalgia for 'better times and strong money,' as evidenced by opinion polls (74% of respondents). But also about simple forgetfulness of German citizens (22% of those surveyed).
One of these forgetful people, apparently, turned out to be a certain citizen who previously lived in Bremen. While dismantling an old house on December 11, a construction worker discovered an iron box hidden in the wall, containing 141,000 Deutsche marks. The find was handed over to the police, who, oddly enough, have still not been able to find the owner of this money.
As the German Federal Bank reminds, the exchange of old German money for euros can also be done by mail, including from abroad. In the latter case, the old money should be sent to the Federal Bank branch in Mainz.