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Markkaa to Euro conversion deadline approaching


Sir Sisu
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I sure hope Finland doesn't come to regret joining the Eurozone. (For that matter, I hope none of the other countries in the Eurozone end up with regrets, either.) In the meantime, I'd certainly hang onto samples. Not that a collector wouldn't already have 'em!

 

I just came upon a tray full of coins I brought back from a trip to Europe in 1992; I tried to keep the best coin of each denomination that I got back in change. Most are surely demonetized and unconvertable by now even if I took them back to their countries of origin, but I do have some Swiss, Swedish and Danish coins in the mix. I brought back paper as well (denominations as high as 50 DM), and certainly by now I've lost that money, again except for the Swiss, Swedish and Danish examples. Unless those got demonetized for other reasons.

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I brought back paper as well (denominations as high as 50 DM), and certainly by now I've lost that money

 

DEM is one of the few currencies that was declared to be perpetually redeemable for EUR. (AUS and ESP being two other notables)

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The last date to convert the last circulating series of markkaa coins and notes is on February 29, 2012.

Bank of Finland

 

 

I plan to bring one haul in before that deadline.

 

It'll be interesting to see what happens in the collector marketplace afterwards. I remember that both after the change from the large brass 10 FRF to the bimetallics, and again after the bimetallics had passed their redemption date on change to euro, large numbers of the now iredeemable coins were available in the marketplace, at low cost - probably sold by the gov't to dealers now that there's no concern of them being presented for exchange.

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I sure hope Finland doesn't come to regret joining the Eurozone. (For that matter, I hope none of the other countries in the Eurozone end up with regrets, either.) In the meantime, I'd certainly hang onto samples. Not that a collector wouldn't already have 'em! . . .

 

I have extras that I've kept in addition to what's in my collection proper. I also have a couple of mint rolls of the lower denominations so I'm good with samples. I'm just getting rid of the loads of loose circulated stuff of little value.

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It'll be interesting to see what happens in the collector marketplace afterwards. I remember that both after the change from the large brass 10 FRF to the bimetallics, and again after the bimetallics had passed their redemption date on change to euro, large numbers of the now iredeemable coins were available in the marketplace, at low cost - probably sold by the gov't to dealers now that there's no concern of them being presented for exchange.

 

I can't say what will happen in other countries, but in Finland the last circulating series of coins are in two clear categories: massive mintage figures for the first few years after release - these are of little value and probably will remain so here. The later years had nominal mintage figures and those were already of relative high value even before the switch to the euro. At this point I don't think there will be a considerable increase as the collector market here is relatively small and most new collectors focus on just trying to keep up with the euros. :P

 

As for the redeemed coins, the Finnish mint also makes coins for other countires and has often recylced the redeemed coins for new minting. So I think the majority of the invalidated coins will be reused in some way. Not sure about other countires however.

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