welt.de
€27 Million in D-Marks Exchanged in 2024, Billions Remain
The German Bundesbank exchanged over €27 million in old Deutsche Mark for euros in 2024, with notable finds including a 10-D-Mark note with a playful threat and various discoveries from gardens and fire debris; however, approximately €6.24 billion in D-Marks remain unreturned.
- What types of discoveries of old D-Mark currency have been made recently and what are the financial implications for the finders?
- The Bundesbank's 2024 D-Mark exchange involved 98,165 transactions, averaging 542 D-Marks each. Common items included 100-D-Mark notes (121,000) and 1-Pfennig coins (12,600). One family found 9,000 D-Marks (€4,600) under a garden structure; another found 8,000 D-Marks (€4,100) from a fire, highlighting the continued existence of significant amounts of unexchanged currency.
- What is the immediate impact of the continued exchange of significant amounts of old Deutsche Mark currency for Euros at the Bundesbank?
- A 10-Deutschmark bill, marked "Kiss withdrawal for 3 days" and signed "Your dream woman," was deposited at the Bundesbank in 2024, 23 years after the euro's introduction. Had it been spent, the markings would have rendered it invalid. In 2024, the Bundesbank exchanged over 53 million D-Marks (approximately €27.2 million) for euros.
- What are the long-term implications of the large amounts of unexchanged D-Marks, and what factors contribute to their continued existence?
- Despite the euro's adoption in 2002, approximately €6.24 billion in D-Marks remain unreturned, mostly coins (€3.35 billion). This reflects a combination of factors: individuals unaware of the exchange, collectors retaining the currency, and significant holdings outside Germany. The indefinite exchange policy in Germany and five other eurozone countries is likely to prolong this situation.
Cognitive Concepts
Framing Bias
The article's framing emphasizes the unusual and anecdotal aspects of D-Mark returns, such as the love note on the 10-Mark bill and the garden discovery. This anecdotal approach overshadows the larger, more significant data about the overall amount of unreturned currency. The headline and introduction draw the reader to the unusual stories rather than the economic reality.
Language Bias
The language used is largely neutral and factual. However, descriptive phrases like "love note" and descriptions of the discoveries as "unusual" or "larger fund" subtly shape the narrative towards the unusual rather than the common case. More neutral language would improve objectivity.
Bias by Omission
The article focuses on the unusual cases of recovered D-Mark currency, highlighting exceptional instances like the 10-Mark note with a threat and the garden find. However, it omits discussion of the general reasons why people still hold onto old currency, beyond the examples provided. This omission limits a complete understanding of the broader phenomenon. The article also doesn't discuss the potential economic implications or challenges associated with the still-unreturned D-Marks.
False Dichotomy
The article presents a somewhat false dichotomy by focusing heavily on unusual cases of D-Mark rediscovery, implying that this represents the typical situation. It doesn't adequately address the vast range of reasons why people might still possess old currency, thus creating an unbalanced perspective.