My grandfather was fairly wealthy and according to my brother, (who has been known to lie) my grandfather gave him some paper currency from Germany in 1962, when my brother was about 8 years old.

My brother said that he forgot all about it, but when going through some old things recently, he found it and did a bit of research to find out it's worth.

He said that 2 years ago, the bill/bills (either one or just a few)were worth $120,000, but because of the switch to the Euro...the money is now worthless. What do you think?

My grandfather was not the type of person to give a child anything of value...

:D brothers!

If it were valuable as a collector' item it would be worth more now due to the switch, not less, as far as I know.

Originally posted by mushroom
He said that 2 years ago, the bill/bills (either one or just a few)were worth $120,000, but because of the switch to the Euro...the money is now worthless. What do you think?


I am not familiar with the terms of the switch to the Euro, but it seems implausible that paper currency would be worth all that much or would have appreciated in value all that much.

At any rate, I don't see the practical "point" of the story, as far as you are concerned. Even if "true," the currency is now worthless. At any rate it is your brother's. So I don't see how it affects you either way, from a practical point of view.

Maybe a psychologist could find some sort of motivation behind a story of this sort--like your brother is trying to make you feel jealous that he "could have" had this windfall based on a gift from Gramps.

It seems pretty nebulous to me, even as a psychological ploy.

If its money from the GDR, chances are it's completely worthless, regardless of the Euro.

I actually heard the story second hand, from our mother...
I was just hoping that it wasn't true.
Thanks for your opinions...

Doesn't sound true to me. I agree with Av, if it was worth so much because it was rare before it seems like it would be moreso now. Sounds bogus to me. I'd just fight my natural urges (to kill him and take the money) and say "Good for you." or something stupid. :D

It could be true...
Ecuador made a switch from Sucres to US Dollars a couple years ago, and now Sucre currency is completely worthless. The banks gave people a time frame to exchange their money to the new currency and whatever wasn't traded in within that time became monopoly money.

If he is telling u the truth, smack him over the head a few times for forgetting all about it.. and then add his bills to your monopoly set. :D

My brother said that he forgot all about it, but when going through some old things recently, he found it and did a bit of research to find out it's worth.

He said that 2 years ago, the bill/bills (either one or just a few)were worth $120,000, but because of the switch to the Euro...the money is now worthless. What do you think?

My grandfather was not the type of person to give a child anything of value...

Right…….[insert indecent comment on Euro here]

If it had value two years ago, it still has value.
Are we talking about paper money or papers that represent money, like shares?

Let’s assume is paper money. I depends on the version of the papers.
In European country’s paper money is sometimes changed to prevent re-printing by criminals.
When the design changes there is a fair amount of time to change it for the new papers.

The transition to the euro doesn’t change that. The only thing that changes are the number of exchange points.

If I would find dutch currency somewhere (in my old coat) than I cannot bring it to every bank in the Netherlands, but I have to take it to one of the few appointed banks and they will change it to euro’s.

So I would say it’s still worth something.
1 Euro is now aprox. 1,06 US Dollar.

my uncle had shares in a german company that were real old, at one time worth millons now worthless.

That could be different.
If you had shares in a German company, that after the war was situated in the east of Germany the company might be claimed by the communistic regime.

hhhmmmm .... i would ask him for it then go to a like bank or some collector and ask them about it !