Wednesday, January 28, 2009

Outdated Currency in Your Drawers? There is Hope.

This was sent to me and I thought it worthy of passing on to those that may be interested. I have not used this service, so cannot vouch for it, but it you have outdated currency, you are certainly not losing a thing by sending it in. Ryan Dear Dr. James,
I've been reading some of your travel writings and while not exactly travel related, thought that the following may be a topic of interest for your readers.
What do you do with your travel money after you return from a foreign vacation? Save it for next time, convert it back and spend it, throw it in the garbage? Realistically no one is going to throw money away, but that's what actually happened to billions of dollars!
Starting in 1999 many countries belonging to the European Union adopted the euro. Financial institutions in these countries and around the wrold allowed the exchange of old domestic currency into euros, however this redemption period has long since passed. Now, for example, if you attempted to exchange your German deutsche marks in to euros or dollars, your bank would simply say "no".
There is the equivalent of billions of dollars of these non-legal tender banknotes in the desks, sock drawers and wallets of millions of vacationers. Money that could be used for paying bills, a night out on the town or savings is impossible due to the lack of any exchange mechanism. The Currency Commission is here to solve this problem.
Our mandate is to facilitate the conversion of old, expired banknotes. Currently we redeem banknotes into euros, Canadian or US dollars. Other currencies may be added if the need should arise. All of this takes place through The Currency Commission website
People simply sign-up and enter the face value of any banknotes that The Currency Commission accepts. Upon receipt of old banknotes, The Currency Commission validates the currency to ensure authenticity and will then issue funds to the recipient in the currency of their

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