Have you discovered old Deutsche Mark (DEM) banknotes or coins and wondered if they still hold any value? Good news! The Deutsche Bundesbank continues to exchange Deutsche Mark into Euros indefinitely, and free of charge. This service is available at Bundesbank branches throughout Germany and by mail through their Mainz branch.
This guide provides you with all the essential information on how to exchange your DEM into EUR, ensuring a smooth and straightforward process based on the official guidelines of the Deutsche Bundesbank.
Where to Exchange Your Deutsche Mark
There are two primary methods for exchanging your Deutsche Mark:
- At Branches of the Deutsche Bundesbank: You can visit any Deutsche Bundesbank branch to exchange your DEM banknotes and coins in person. This is a direct and immediate way to convert your old currency.
- By Post via the Mainz Branch: For convenience, especially if you are not near a branch or have a larger amount, you can send your DEM by mail to the Bundesbank’s Mainz branch.
What Deutsche Mark Can Be Exchanged?
The Deutsche Bundesbank accepts a wide range of DEM banknotes and coins for exchange:
- Banknotes issued by the Bank deutscher Länder (BdL)
- Banknotes issued by the Bundesbank
- Federal coins denominated in Deutsche Mark or Pfennig
However, please note that some specific banknotes and coins are no longer accepted:
- DEM 2 coin, first issue (minting date 1951)
- Banknotes and coins issued prior to 20 June 1948
- 50 Mark BdL note II (green), issued in 1948 (special conditions apply for this banknote – see original source for details).
It’s important to check your DEM holdings against this list to ensure they are eligible for exchange before proceeding.
Understanding the Official Exchange Rate
The exchange rate for DEM to EUR is fixed and has remained constant since the introduction of the Euro. The official rate is:
€1 = DEM 1.95583
This fixed exchange rate ensures that you receive a consistent and fair value when converting your Deutsche Mark to Euro, regardless of when you make the exchange. This stability is a key factor for those still holding DEM, offering a secure way to convert to current Euro currency.
How to Exchange DEM by Post
If you choose to exchange your DEM by post, follow these steps:
- Download and Complete the Application Form: Obtain the “Exchange DEM-EUR” application form from the Deutsche Bundesbank website. Fill it out accurately, including your IBAN for bank transfer.
- Package Your DEM and Application: Securely package your Deutsche Mark banknotes and coins along with the completed application form.
- Send to the Mainz Branch: Mail your package to the address provided on the application form.
The Bundesbank will process your exchange upon receipt. The equivalent Euro amount, calculated at the official exchange rate, will be transferred to your specified bank account.
Important Notes for Exchange by Post:
- High-Value Exchanges: If you plan to send DEM cash worth €15,000.00 (approximately DEM 29,337.45) or more, contact the Bundesbank in advance for specific instructions and required documentation.
- Postal Liability: The Bundesbank is not liable for cash lost in the post. Check with your delivery service about the best practices for sending cash, including packaging, declaration, and insurance options.
- DEM Only: Ensure your consignment only includes Deutsche Mark banknotes and coins. Other currencies or items cannot be exchanged.
- Postage and Customs Fees: The Bundesbank does not accept shipments with insufficient postage or those incurring customs fees. Ensure you have correctly paid for postage.
Conclusion
Exchanging your Deutsche Mark to Euro is still a straightforward and free process offered by the Deutsche Bundesbank. Whether you choose to visit a branch or utilize the postal service, you can easily convert your old German currency at the official fixed exchange rate. This enduring opportunity ensures that Deutsche Mark holders can still access the value of their legacy currency in today’s Euro economy. For any further questions or specific concerns, it is always recommended to contact the Deutsche Bundesbank directly for the most accurate and up-to-date information.
