The Deutsche Bundesbank exchanged more than 49 million Deutschmarks for euros this year.
The volume rose again for the first time since 2018.
Bundesbank board member Johannes Beermann attributes this primarily to the fact that during the corona pandemic in 2021 it was more difficult to exchange D-Marks due to the temporarily restricted range of services in the Bundesbank branches.
"Accordingly, stocks could have accumulated over the past two years that have now been exchanged for euros," said Beermann.
Beermann does not see the increase in the year that is coming to an end as a general trend reversal: “I don't expect the number of exchanges to continue to rise.
It's getting less and less."
Almost 21 years after the introduction of euro cash, D-Mark bills and coins worth billions have not yet been returned.
According to the Bundesbank, the total value still outstanding at the end of November was just under 12.3 billion marks (about 6.29 billion euros).
"Germany is one of six countries in the euro area that exchange both national banknotes and national coins for an unlimited period," explained Beermann.
In Austria and Ireland, as well as in the three Baltic states of Estonia, Latvia and Lithuania, consumers can exchange notes and coins in their old national currency for an unlimited period of time.
Billions of D-Mark still outstanding
The vast majority of the D-Mark holdings were exchanged around the time when the new euro notes and coins were introduced at the turn of the year 2001/2002.
Banknotes worth 5.7 billion marks and coins with a volume of around 6.6 billion marks are still not returned.
“D-Mark coins are more likely to disappear, some of the coins are likely to be lost forever.
Banknotes are worth more and are therefore better guarded,” said Beermann.
The central bank suspects that some of the old money is also outside of Germany.
“We don't know exactly how many D-Marks are still abroad.
The Bundesbank only registers the deposits,” explained Beermann.
Old bills and coins can be exchanged at all 31 branches of the Deutsche Bundesbank or by post via the Mainz branch.
The exchange rate is unchanged: you get one euro for 1.95583 German marks.
The Bundesbank has so far exchanged around 2.96 million marks for euros in Hesse in the current year.
The stocks submitted by the end of November in Frankfurt to the central bank’s Hesse headquarters and the Bundesbank headquarters were higher than a year earlier, according to data from the Bundesbank.
In the comparative period of 2021, the value of the old bills and coins exchanged was around 2.15 million marks.
With Croatia joining the euro on January 1, 2023, the Bundesbank is also temporarily offering to exchange Croatian Kuna for euros in its branches in Germany - at least in January and February of the new year.