Can I still exchange French Francs?

on1v07

I've recently found a bundle of French Francs, as well as German Marks, Italian Lire, Cypriot Pounds and a few Spanish Pesetas in my loft..

I've looked on the internet and can't find anywhere to change them in this country.. it appears I'd have to visit the country's central banks, which I cannot do.

Any ideas/tips would be welcome!?:)

hermante

Sell them to a collector? Or maybe keep them as the Euro has a non-zero chance of breaking up in the near future

NFH

The policy varies from country to country, and coins will be much more difficult to change than notes. The Bundesbank has published a list of the time limits for each legacy currency.

Some central banks in Eurozone countries will change banknotes of other euro legacy currencies into euro. For example, I changed FRF, BEF, ESP and ITL banknotes into EUR at the Central Bank of Ireland in Dublin in January 2002 when euro notes and coins were first introduced.

SWISS_FRANK

There is a firm of specialist banknote dealers that I use in London who still change French Francs and many of the old pre-Euro currencies - apparently though the French Franc, Italian Lire, Finnish Mark and Greek Drachma will lose all value in February next year and will become totally worthless so you need to act fast !

They are Thomas Exchange UK Limited (Tel 0207 493 1300) based in Maddox Street London or you can contact them via their website.

I changed some old Portuguese Escudos with them a few weeks ago which I found in an old travel wallet.

NFH

The advantage of going to a central bank as opposed to a commercial organisation is that you'll get the fixed conversion rates to EUR without any commission being applied. A commercial organisation in the UK will probably change it into GBP with a large margin or commission, as they need to make their money somehow.

on1v07

Thanks for your comments - a bit of research confirms that they will go out of date in February so not much chance of visiting all of the central banks. I've looked at the website of Thomas Exchange UK and it appears it is quick and easy to post them the currency to exchange - thanks for your help!

globalds

If you wait a few months the Euro will have collapsed ..then it will be legal currency again

NFH

on1v07 wrote: »

not much chance of visiting all of the central banks.

You might be able to do all legacy currencies at one central bank, given my experience in Dublin. However, there's a chance that was a special service during the first few days of the introduction of euro cash though.

SWISS_FRANK

on1v07 wrote: »

Thanks for your comments - a bit of research confirms that they will go out of date in February so not much chance of visiting all of the central banks. I've looked at the website of Thomas Exchange UK and it appears it is quick and easy to post them the currency to exchange - thanks for your help!

Just to clarify the following currencies will lose all value in February 2012 - FRENCH (17.02.2012) ITALY (29.02.2012) GREEK (28.02.2012) and FINLAND (28.02.2012).
Changing them in the UK, as you are running out of time, is probably your best option before they are worth nothing !

[Deleted User]

Can I still exchange French francs?


The day after tomorrow is the last day to exchange French francs banknotes. (Friday 17 February 2012) This can only be done in Banque de France branches in guess where.


After that they become worthless unless in good condition. You might be able to flog them on eBay then.

[Deleted User]

SWISS_FRANK wrote: »

Just to clarify the following currencies will lose all value in February 2012 - FRENCH (17.02.2012) ITALY (29.02.2012) GREEK (28.02.2012) and FINLAND (28.02.2012).
Changing them in the UK, as you are running out of time, is probably your best option before they are worth nothing !

FRANCE (17.02.2012) Correct

ITALY (29.02.2012) The Italian Government pulled a fast one and stopped accepting ITL coins and banknotes already on 7 December 2011. :(All the central banks originally pledged to accept their old currencies (banknotes) for at least 10 years. Not sure if this is a legal move.
From Bank of Italy's website:

Exchange of lira notes and coins

With the introduction of euro notes and coins, those denominated in lire ceased to be legal tender at the end of the dual circulation period on 28 February 2002.

Pursuant to Article 26 of Decree Law 201/2011, published in Gazzetta Ufficiale no. 284 of 6 December 2011, "by way of derogation from Article 3, paragraphs 1 and 1 bis, of Law 96/1997 and Article 52-ter, paragraphs 1 and 1 bis, of Legislative Decree 213/1998, lira banknotes, notes and coins still in circulation shall lapse and be assigned to the Treasury with immediate effect".

Accordingly, as of 7 December 2011 such banknotes and coins may no longer be exchanged at the branches of the Bank of Italy.

GREECE (28.02.2012) 29.02.12 At least the Greeks are still honouring that pledge.

FINLAND (28.02.2012) 29.02.12