Value of old German bank notes?

Question

My grandfather passed by and in his desk we have found an envelope with German bank notes:
1) brown notes 50 Deutsche Mark (Funfzig Deutsche Mark) with a signature of 1960; showing an old man with a big head on the front and a building with two towers on the reverse; size about 59x29.5"
2) blue notes 100 Deutsche Mark (Hundert Deutsche Mark) showing an old man on the front and an eagle on the reverse, size about 63x31,5"
3) red notes 500 Deutsche Mark (Fünfhundert Deutsche Mark) showing an old man on the front and a castle (Burg Elzt) on the reverse. size about 67x33.5"
The total amount is 19,500 Deutschmarks.
Will those notes still be of any value and what can I do with them; I plan to study in Germany for a semester in 2013.

Answer 1

The size you state confuses me. It looks like they are posters of banknotes. The actual size of the German money is about 1/10 of the size you state. However although this series (BBk I) has been replaced by higher forgery-proof banknotes in the beginning of the 1990s they never became invalid. They were just no longer issued and the old notes were turned in to the federal bank by the banks. Those banknotes can still be exchanged against the €uro at all regional offices and branches of the German federal bank. Exchange rate: DM 1.95583 = 1 €uro; 19,500 DM = €9,970.19 or $12,397.65 based on the current exchange rate.

http://www.bundesbank.de/Redaktion/EN/Standardartikel/Core_business_areas/Cash_management/dm_banknotes_coins_exchange.html ..



Just take them over to Germany when you come to study and have them exchanged to €uros at a federal bank office.

http://www.bundesbank.de/Navigation/EN/Bundesbank/Regional_Offices_and_branches/regional_offices_and_branches.html ..



Make sure that you declare them at German customs on arrival.

http://www1.zoll.de/english_version/a0_passenger_traffic/d1_movement_of_cash/index.html ..

Answer 2

Just getting monies baxk with all the notes would be an achievement in my opinioon.



The Reich Mark was a small exchange no matter how much monies people held.I heard.



Try your home bank and price the full transaction of all the notes. Collectors will buy the odd coin at a high price but usually pay out little.

There are collector books that give prices on collectables, notes, stamps and the like.

Older does not mean a good gain.

Answer 3

These notes have no financial worth to any extent further however perhaps of interest to collectors. Their price depends upon their condition. Collectors need them in close excellent condition. Well use copies are valued at little or no.

Answer 4

German money was pretty much worthless then and much hasn't changed now. Might as well use it to blow yer nose when ya get the sniffles.