Danmarks Nationalbank is regularly contacted by companies and individuals wishing to reproduce or exchange banknotes or coins or having come into possession of suspicious-looking banknotes. Contact your bank if you wish to exchange damaged or old banknotes or coins. Special rules apply to coins and banknotes that are materially damaged.
Exchange of old and damaged banknotes
Danmarks Nationalbank has not performed a so-called money changeover since 1945. This means that several banknotes from the older series have not been recalled and are therefore still valid. However, you cannot expect retailers to accept all types of banknotes from the older banknote series, as especially the oldest series may be difficult to recognise and handle.
If you wish to exchange old banknotes, you must contact your own bank. This also applies if you have come into possession of coloured or damaged banknotes from the latest series of banknotes.
Rules for the exchange of damaged or discoloured banknotes
Danmarks Nationalbank accepts damaged or discoloured banknotes subject to the following rules:
1. At the request of a bank, Danmarks Nationalbank may exchange discoloured or damaged banknotes. Individuals and companies that have received discoloured or damaged banknotes must therefore contact the bank in which their account is held.
2.1. Discoloured or damaged banknotes can be exchanged immediately by the bank at nominal value on the following terms:
- Discoloured banknotes: provided that it is obvious that the discolouration is not due to anti-theft devices and the notes otherwise do not appear to originate from criminal activities.
- Damaged banknotes: if more than 50 per cent of the banknote is left, and the banknotes otherwise do not appear to originate from criminal activities.
2.2. Discoloured or damaged banknotes that are exchanged immediately must be gathered in bundles of suitable quantities and submitted to Danmarks Nationalbank stating that the banknotes have been exchanged in accordance with the rule in item 2.1.
3.1. Banknotes that are discoloured or damaged in such a way that they can be assumed to originate from criminal activities cannot be exchanged immediately, but must be submitted to Danmarks Nationalbank along with the following information on a pre-printed form in two copies:
- Name and address of the account holder verified by appropriate proof of identity.
- The account holder’s explanation of the reason for the appearance of the banknotes, as well as how the account holder came to be in possession of the banknotes.
- The bank’s recommendation of whether exchange should take place.
3.2. In particular, the bank must comply with the procedure set out in item 3.1. with regard to:
- discoloured banknotes that have been discoloured by anti-theft devices;
- banknotes that appear to have been cleaned using chemical agents;
- banknotes of which the edges have been cut off; or
- banknotes that are damp-stained.
4.1. Danmarks Nationalbank exchanges the banknotes if the account holder is presumed to be the rightful owner of the banknotes. If the account holder cannot, or will not, provide the information stated in item 3.1., the banknotes are not exchanged.
4.2. Discoloured or damaged banknotes will not be returned.
5. Banknotes that have been discoloured by anti-theft devices while in the possession of the bank are to be submitted separately to Danmarks Nationalbank to be exchanged, accompanied by an explanation of whether the discolouration is related to accidental release of the device, or during a robbery where the banknotes were abandoned, or a similar situation.
Only accept honest money
Do not accept discoloured, burnt, cleaned or other suspicious-looking banknotes
Refer the holders of such banknotes to their bank.
Contact your bank or the bank of your workplace if you have accepted a suspicious-looking banknote by mistake.
In the event of gross negligence where you should have discovered that a banknote is discoloured, burnt or cleaned, the amount is forfeited.
Exchange of damaged coins
All coins issued after 1875 with a value of 50 øre or higher that are not materially damaged are still legal tender (i.e. valid as a means of payment) and can be exchanged for new coins. They can be exchanged for new coins at your bank.
Danmarks Nationalbank may subsequently exchange the coins at the bank’s request.
Materially damaged coins
Under current rules, Danmarks Nationalbank may refuse to exchange coins that are materially damaged or worn.
Coins that are materially damaged or worn may be difficult to use in e.g. vending machines, etc. and their authenticity could be called into doubt.
Such coins are not legal tender, see section 4(2) of the Danish Coinage Act, and cannot be exchanged.
Assessment of coins
Danmarks Nationalbank will assess the coins for exchange in order to determine whether the coins are materially damaged or not. Danmarks Nationalbank will proceed with further analyses of the coins, e.g. of the alloy, structure and surface of the coins, if the physical assessment warrants it.
If the analyses or the circumstances in general warrant this, Danmarks Nationalbank will contact the Danish police for the purpose of further assessments of the coins.
Coins that are being analysed further will not be exchanged until the analyses and/or assessments by the police have been concluded.
Shipment of coins (by prior agreement only)
When coins are being shipped to Denmark from abroad for exchange, Danmarks Nationalbank and the Royal Danish Mint may not be listed as the recipient of the coins. Companies and individuals that intend to deliver coins for exchange are required to ensure – e.g. via a third party recipient in Denmark – that imported coins can be delivered to Danmarks Nationalbank without any obligations for Danmarks Nationalbank, including charges of duty and VAT.
Companies and individuals should be aware that if they enter Denmark and are carrying more than EUR 10,000 (approximately kr. 75,000), they must always declare the amount to SKAT (the Danish tax authorities). Guidance can be found at SKAT’s website.
Danmarks Nationalbank does not offer guidance on shipment of coins to Denmark, including the Danish duty and VAT regulation.
If you have any questions or doubts about shipment, duties, VAT etc., please contact the relevant agency.
Separate packaging of coins
Damaged coins must be packed separately. See tables 1 and 2.
Table 1: New coins are sorted and packaged in the following manner
|Denominations (kr.):||Number of units per bag|
Table 2: Old coins are sorted and packaged in the following manner
|Denominations (kr.):||Number of units per bag|
Bank transfer of the counted value
The counted value can be transferred to a bank account at a Danish bank in Danish kroner or through Danmarks Nationalbank’s commercial bank connection to a foreign account in EUR, USD, GBP, CHF, SEK or NOK.
Companies and individuals that want the counted value transferred to a bank account will be charged the following fees for the transfer:
- For transfers to an account at a Danish bank, a fee of kr. 50 will be charged.
- For transfers to an account at a foreign bank, a fee of kr. 125 will be charged.
- Companies and individuals acting in a commercial capacity or receiving coins from the general public are charged the following fees for the exchange:
- A basic fee of kr. 250 will be charged for each exchange. In addition a fee of 3 per cent of the counted value will be charged.
- For damaged coins, the fee will be 6 per cent of the counted value.
When you contact Danmarks Nationalbank to exchange damaged or old banknotes and coins, Danmarks Nationalbank is obliged to perform customer due diligence measures.