Average lifetime of banknotes

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tomaz79
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Average lifetime of banknotes

Post by tomaz79 »

Ta-da! 8)

500 - 22.96 years
200 - 10.26 years
100 - 7.59 years
50 - 3.35 years
20 - 1.40 years
10 - 1.23 years
5 - 1.21 years

Average: 1.99 years.

Source: Hmm... which institution could possibly have this kind of information...?

Use it in good faith :wink:
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alex77r
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Post by alex77r »

In the past I heard about 6 months for fivers in France. :roll:
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tomaz79
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Post by tomaz79 »

alex77r wrote:In the past I heard about 6 months for fivers in France. :roll:
Seems a bit short... or maybe you French just really disrespect your fivers :)
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Post by Klazu »

Seems that :note-50: would be the optimal note to enter. :idea:
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Post by Phaseolus »

tomaz79 wrote:
alex77r wrote:In the past I heard about 6 months for fivers in France. :roll:
Seems a bit short... or maybe you French just really disrespect your fivers :)
Indeed we prefer :note-500: to :note-5: ! :mrgreen:
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Post by romanm »

Klazu wrote:Seems that :note-50: would be the optimal note to enter. :idea:
Not necessarily true. AFAIK, notes are being replaced when they are worn out, ie. being used a lot. So it does not matter if the :note-50: is in circulation for 3.35 years and :note-5: for 1.21 years: the fact that the latter should be replaced in much shorter interval means that it has been exposed to so many more people, thus also to equivalent larger share of EB trackers.
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Re: Average lifetime of banknotes

Post by mieg »

Hi,
this is realy interesting 8O
tomaz79 wrote: 500 - 22.96 years
200 - 10.26 years
100 - 7.59 years

:note-100: are printed before 2000?
:note-200: are printed before 1997?
:note-500: are printed before 1985?

or how could be the average livetime as long as this???

A real mirical :roll:

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tomaz79
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Re: Average lifetime of banknotes

Post by tomaz79 »

mieg wrote:Hi,
this is realy interesting 8O
tomaz79 wrote: 500 - 22.96 years
200 - 10.26 years
100 - 7.59 years

:note-100: are printed before 2000?
:note-200: are printed before 1997?
:note-500: are printed before 1985?

or how could be the average livetime as long as this???

A real mirical :roll:

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These lifetimes are an extrapolation, of course. As I understood from the mail that I got from the ECB, they estimate the average lifetimes. They are not directly measured by looking at the actual lifetime of each individual bill that has been taken out of circulation. This wouldn't make much sense anyway (at least for now).

Let's say that in 2002 you put 100 :note-500: bills into circulation. Let's say that up to this moment, 10 have been taken out of circulation. You can calculate an average lifetime for these 10 notes, but the number is rubbish, because you still have 90 notes in circulation and god knows how much longer they will circulate.

You can, however, do an estimate. The ECB knows how much notes are circulating at any given time. They take the number of notes that have been taken out in the previous year and divide that with the number of notes in circulation.

So for example if within the previous 5 years, 10 of the 100 :note-500: bills have been taken out, you can do a simplified estimate that each 5 years 10 bills are taken out. So it would take 50 years to take them all out. If you presume that this rate of taking out the bills is constant (which imho is not a very good aproximation), than the estimated average lifetime for those 100 bills is 25 years.

I hope I made any sense :?
Well, that's the way I see it, but I could be wrong :oops:
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Post by GP »

I think you're quite right tomaz79. It's a nice detail ;). But i don't think we should take specific notes to enter on this website, it don't make any sense;)
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Post by ElBarto »

I don't think a single 500€ note will live for 23 years because all bank notes are going to be displaced by the new ones in 2010...
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Post by tomaz79 »

ElBarto wrote:I don't think a single 500€ note will live for 23 years because all bank notes are going to be displaced by the new ones in 2010...
But they would, if they could! 8)
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Post by diogocanilho »

ElBarto wrote:I don't think a single 500€ note will live for 23 years because all bank notes are going to be displaced by the new ones in 2010...
New notes in 2010? There's "breaking news" for me...! :D
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Post by eddydevries »

diogocanilho wrote:
ElBarto wrote:I don't think a single 500€ note will live for 23 years because all bank notes are going to be displaced by the new ones in 2010...
New notes in 2010? There's "breaking news" for me...! :D
Yes. :cry: :cry: :cry: :cry:
The notes we have now will be replaced: when they arrive at a bank after 2010 they will be taken out of circulation.

:cry: :cry: :cry: So we won't have long-timed-hits for some time than. :cry: :cry: :cry:
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Post by mieg »

Thanks for these informations. It's realy interesting.
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Post by GP »

eddydevries wrote:
diogocanilho wrote:
ElBarto wrote:I don't think a single 500€ note will live for 23 years because all bank notes are going to be displaced by the new ones in 2010...
New notes in 2010? There's "breaking news" for me...! :D
Yes. :cry: :cry: :cry: :cry:
The notes we have now will be replaced: when they arrive at a bank after 2010 they will be taken out of circulation.

:cry: :cry: :cry: So we won't have long-timed-hits for some time than. :cry: :cry: :cry:
Are you sure of this :o .. Al these milions of notes, DAMN!
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