Destruction of old design 5 euro notes

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lmviterbo
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Re: Destruction of old design 5 euro notes

Post by lmviterbo »

I mean: notes that didn't have to pass any bank clerk nor any cash centre. Notes taken from CRMs were deposited there directly by individual citizens.

I also checked my EBTCheck's Notes Explorer for the previous years:

2020 — 1 out of 17 at a café, the rest from CRMs
2019 — 3 out of 17 at supermarkets, the rest from CRMs
2018 — 4 out of 68 in cafés, 2 in Amsterdam (from Elmo directly :D, and at the airport), 2 from ATMs, the rest from CRMs (including some dumps of several notes at a time, like 18 notes once or 14 notes another time)

The last time I got an old fiver in an ATM, it was more than four years ago (2018-03-21).
Last edited by lmviterbo on Fri Jun 17, 2022 3:20 pm, edited 1 time in total.
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Montgomery Burns
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Re: Destruction of old design 5 euro notes

Post by Montgomery Burns »

Interesting, thanks for that. And that reminded me I could use the excellent EBTCheck myself!

The previous old fiver I had registered was this one (2020/07, the only one of the year). Unfortunately, stamping it with the EBT URL has not made it a hit-note thus far. It probably sped up its destruction. :lol:
YCNZ
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Re: Destruction of old design 5 euro notes

Post by YCNZ »

Surprisingly and according to Wikipedia, the remaining old €10 notes are now less than the remaining €5 (9.6% of the total circulating €10s are still old series compared to 13.1% of the €5s according to the latest official figures). The fact that the €5s got replaced a year before the €10's makes this figure even more bizarre.
There must be a forgotten stash somewhere. At my local supermarket in suburban Athens I received an almost pristine P005/Y0055 Duisenberg €5 as change a few days back. It must have been handled by 5 people max, it was in unbelievable condition for its age. I stood on the side to arrange my bags, and I overheard the cashier telling the customer after me "I'm sorry about all these small notes", I look over and I see her handing 5 or 6 similar old €5's (probably €25 or €30 worth as part of change for a €50).
Who knows.
I registered mine and spent it a little later.
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lmviterbo
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Re: Destruction of old design 5 euro notes

Post by lmviterbo »

Thanks for bringing that up, YCNZ!

The official circulation figures are here: https://www.ecb.europa.eu/stats/policy_ ... ex.en.html

It's simply outlandishly incorrect that 12.8% of fivers and 9.3% of tenners in circulation ⁽¹⁾ are from the 1st series.

If I'm not wrong, these figures are not statistical but derived from the totals of emmited minus redeemed. That being the case, all banknotes that are kept, forgotten or lost — without ever reaching a central bank — will be included in the number of those computed by the ECB as "in circulation".

Just like a lot of pre-euro currency banknotes were never exchanged to euros, there must be a lot of 1st series euro banknotes that will never be returned to central banks. (For example, pesetas equivalent to 1 575 million euros, which amounts to more than 3% of all pesetas in circulation in December 2001, were never exchanged until the end of the exchange calendar 19 years later. Source: "El fin de la peseta", article in Economía Digital.)

In reality, as every EBTor can experience, 1st series banknotes are becoming really rare. Take for example the heavy-duty Frankfurt user taucher's stats: out of their 50k+ fivers and tenners registered this year, 3 or less were from the 1st series). Or take the combined stats of all EBTors using EBTCheck: only 2.2% of all :note-5: to :note-200: banknotes entered this year were from the 1st series — and we all know that these are much more prevalent in higher denominations.

Portugal is one of the Euro Area countries where most 1st series banknotes, can still be found in circulation (in percentage of all banknotes circulating in the country). Still, #1 Portuguese EBTor Leofer40's stats show that only 2.7% of his non-500-euros banknotes entered in 2022 were from the 1st series. My own stats show that only 0.4% of all fivers and tenners that I registered this year were from the 1st series (11 + 26 ∕ 3 124 + 5 852). [Also: :note-20: 2.1%, :note-50: 13.3%, :note-100: 3.1%, :note-200: 20.4%.]


_________________________
⁽¹⁾ May 2022 banknotes in circulation (1st series ∕ total), according to the ECB:
:note-5: 263 997 782 ∕ 2 060 275 313
:note-10: 270 800 535 ∕ 2 905 771 854
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