€226 million in old Irish punts remains unaccounted for

13 May 2018 05:30

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€226 million in old Irish punts remains unaccounted for

A whopping €1.5 million worth of old Irish money was redeemed last year alone

THE CENTRAL BANK last year redeemed €1.5 million in Irish pounds, the national currency prior to the introduction of the single currency.

And a staggering €226 million in old Irish banknotes remain outstanding.

The bank continues to value the old punt currency, which was gradually phased out following the launch of the euro in February 2002.

Per the bank’s annual report, which was released last week, €0.4 million in Irish pound coin and €1.1 million in old banknotes were redeemed last year.

This was the exact same amount as was redeemed in 2016, albeit then the split was €0.2 million in coin and €1.3 million in notes.

The report states that provision continues to be made in order that the old currency may be redeemed.

The provision for changing the old banknotes meanwhile stands at €6.3 million.

So, while the bank will recognise the older currency, it may not redeem all of it.

You know, should you happen to have £10 million in old banknotes stashed somewhere about the place.

Still though, somewhere around the country, an untapped mine of wealth exists.

Source: thejournal.ie

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