...if so, where and what is their value?

Yes. I'm sure you can send them directly to the German Central Bank for redemption in Euros (roughly 2 DM : 1 euro). Not sure what their policy is, and how they pay.

When I get them myself, I sell to a local dealer here who pays 0.45.

Yes the Deutsch Bundesbank still takes them, for an indefinate period. Anything from 1949 on up is redeemable at a fixed rate against the € currency. Unlike countries like France, Netherlands which have timelines for redemption, the German currency is redeemable forever.

As they said ...

There is only one coin type that can no longer be redeemed, the 2 DM piece issued in 1951. That one was too similar to the 1 DM coin, and taken out of circulation about 50 years ago. But a coin dealer would gladly pay you more than face for that one anyway ...

For all others, the easiest way of exchanging DM cash would be to go to a Bundesbank branch office - they will give you the equivalent in euro (1 EUR = 1.95583 DEM) in cash. If that is not an option, you can send the money to the Bundesbank cash service center in Mainz. The "instructions" in English, the address etc., can be found here: http://www.bundesbank.de/bargeld/bargeld_f...php#dm_umtausch

Christian