Taking pictures and buying memorabilia are good ways to remember a vacation or trip abroad. But what about those leftover coins and notes that have been kept for sentimental value and are now cluttering the bottom of a drawer? Although it may not have seemed worthwhile to exchange them way back when they could be of significant value now.
Even if those foreign coins and notes have been lying around for decades and have most certainly become obsolete, they could still be of value. Leftovercurrency.com wants that old currency and will pay according to a listed exchange rate.
What Is Obsolete Currency?
A currency becomes obsolete when it is no longer accepted by the country where the notes or coins were originally minted. This commonly occurs with bank notes or coins are replaced with more current prints or mints. For example, currency that was minted a decade or so ago may no longer be viable as it has been replaced by newer coins and notes.
Another common reason is where coins become obsolete due to a huge increase in inflation of a specific currency. The lowest value coins decrease in actual value to such an extent that they are simply no longer a viable currency. For example, the 1 and 2 cent coins in countries like Singapore, South Africa and many more.
Currency can also become obsolete after a significant change in political regime. South Africa is another good example of this where the old notes and coins were replaced by the new government after Apartheid was abolished.
But most commonly, currency becomes obsolete simply because it is old. The problem with these currencies is that they are no longer exchangeable.
Does Currency Have To Be Obsolete To Be Exchanged?
Currency does not have to be obsolete to be exchanged plus you can exchange foreign coins. If it is simply to much hassle to take that leftover currency to be exchanged or if the period to exchange after returning from a foreign country has elapsed, Leftovercurrency will still accept them.
No matter if the collection is from a variety of different countries, the currency is still exchangeable. Simply check out the list of currencies that Leftover Currency will exchange and add items to the online wallet to find out exactly what rate will be paid for each denomination that is unexchangeable.
Reasons To Exchange Old Currency
Holding on to those coins in the hope that one day they will be of greater value is not a good idea. Only extremely old coins that are hundreds of years old or that have special significance will increase in value over time. Other coins need to be in mint condition if they are to be collected and even then, will only really provide great value if they are limited edition or passed on to grandchildren and great grandchildren.
In fact, as most currencies decrease in value over time, it is probably best to exchange those coins sooner rather than later. Even defunct or obsolete currencies will decrease in value as time goes by. There is no better time than the present to collect those coins and exchange them for money that is of value.
The Covid-19 crisis has provided the perfect opportunity to exchange old currency. Sitting at home with nothing to do is a good time to locate those coins and send them to Leftovercurrency.com. Most people could do with some extra funds at this time.
How To Exchange Obsolete Currency Through Leftover Currency?
Simply visit Leftovercurrency.com and check which currencies are exchangeable. The site provides a full list including the exchange rates that are offered.
Add or remove currencies to the online wallet to see exactly what amount will be paid for those coins. Print out the Currency Exchange Form and complete it.
Next, package up those coins and notes along with the Currency Exchange Form. The form will contain the reference number and other important information in order for the transaction to be processed.
Payment will be made directly into a PayPal account or a cheque for the relevant amount will be sent to the address listed on the Currency Exchange Form. Payment is commonly made within 5 days of receipt of the currency depending on postal services.