Old Duetsche Marks

It seems the Germans were one if not the only who did not set a time limit to exchange old currency.

The official exchange rate is set at EUR 1 for DEM 1.95583.

We accept the following banknotes and coins for exchange.

Banknotes issued by the Bank deutscher Länder (BdL)
Bundesbank banknotes and
Federal coins denominated in Deutsche Mark or Pfennig

https://www.bundesbank.de/Redaktion/EN/Standardartikel/Tasks/Cash_management/free_exchange_dm_euro.html

In 2001, I went to Germany with some old money from 1989. I found I couldn't spend it. At the time there was only one major bank taking the old currency in exchange for newer ones, but it wasn't the Bundesbank. Then January 1, 2001, when Europe went to the euro, I was in Germany, and the banks were trading Mark for euro. I traded in almost all of my Mark for euro, but I kept a little bit, particularly a 5 Mark coin, which I loved, as souvenirs.

Note, it appears that only the Deutsches Bundesbank, which is the central bank of Germany, is trading old Mark for euro. This website give their locations.

Funny thing about the old Marks: Out hotel in Schwangau used them for tokens for the washing machines in the laundromat. I think you had to purchased them with Euros and then use the old marks to drop into the slot to activate the washer.

Unless I am mistaken, it seems you must have a euro denominated bank account to receive the funds, since they credit your bank account.

I believe the form stating to credit a bank account is for note submitted by mail - not in person.

I still have old DM bills and coins from trips prior to the Euro. There was a time after the introduction of the Euro where in Germany a single bank handled exchanging DM for Euro after the official period has expired. I kept the DM left over from the 1999 trip instead of exchanging them in 2001 for Euro.

Last summer we were able to exchange DM for Euros at the Deutsche Bundesbank at Taunusanlage 5 in Frankfurt, not far from the Hauptbahnhof. We arrived there on a Wednesday afternoon, only to find the bank closed at 1 PM. We did have success the next day after 9 or 10 AM.

I kept the DM left over ...

I kept a few coins as souvenirs, most notably a 5 Mark piece, because I thought it was so neat.

I have a few left over Marks that my uncles brought home after WWII they got while stationed there up till the 1950's. I think they would be worth more to a collector than the fixed exchange rate. But I will probably keep them because they make great conversation and of course sentimental reasons. And I mention this because many of last the Marks would probably be worth something to a money collector more than the redemption price if you took the time to find one.

This note probably won't be relevant to anyone who traveled in the 1990s - but I have a small pile of 5 DM coins from my days in USAEUR in the early 1970s that I have kept because they are partially silver coinage. The 5 DM coins with the so-called 'German Eagle' design coined from 1951 through 1974 are roughly 60% silver.

I thought the DM in coins and currency that were most attractive were the 10 DM bill and the one DM coin. Those in particular I kept as left overs from those yesteryear trips.