- By Joshua Keating
Joshua Keating is associate editor at Foreign Policy and the editor of the Passport blog. He has worked as a researcher, editorial assistant, and deputy Web editor since joining the FP staff in 2007. In addition to being featured in Foreign Policy, his writing has been published by the Washington Post, Newsweek International, Radio Prague, the Center for Defense Information, and Romania's Adevarul newspaper. He has appeared as a commentator on CNN International, C-Span, ABC News, Al Jazeera, NPR, BBC radio, and others. A native of Brooklyn, New York, he studied comparative politics at Oberlin College.
Apparently, as the Wall Street Journal reports, Germans still haven’t quite given up on the Deutsche mark:
As defunct currencies go, "die gute alte D-mark," or "the good old D-mark," as it is still affectionately called, is far from dead. Germans officially traded in the currency for euro bills and coins on Jan. 1, 2002, and the mark immediately ceased to be legal tender. But 13.2 billion marks—worth €6.75 billion ($8.3 billion)—remain tucked in mattresses, old prayer books, coat pockets or otherwise in circulation, according to the Bundesbank, more lucre than the euro bloc’s 16 other ex-currencies combined.
Unlike neighbors such as Italy and France, which let their liras and francs officially expire over the past year, Germany never set a deadline for exchanging its old money for euros. So, if they decide to accept marks, retailers and other businesses can still exchange them at German central bank branches.
You never know. They may come in handy yet. Though Finnish markkas may turn out to be the better investment.