[asgeirn]

This is exactly how the physical representation of money works as well.

The central bank controls how many bills are in circulation, and the central bank regularly expires old bills and coins.

[crotchfire]

Only unstable third-world countries do that.

The Bank of England honors all of its old banknotes: "There is no deadline to exchange old banknotes with the Bank of England." https://www.bankofengland.co.uk/banknotes/exchanging-old-ban...

The United States has never demonetized any of its coins or banknotes. All of them are honored and are in fact still legal tender to this day -- even the $100,000 bill! https://en.wikipedia.org/wiki/Obsolete_denominations_of_Unit...

Although Canada has revoked legal tender status for some of its older bills, "The Bank of Canada continues to honor them at face value" https://www.bankofcanada.ca/banknotes/about-legal-tender/

[Yoric]

In contrast, all of Europe has demonetized its old currencies (Deutschmark, French Francs, Italian Lira, etc.) when switching to Euros, and a few times before that. I've just looked it up and one Napoleon Franc is currently worth ~20€.

So, it's not that uncommon.

[RandomLensman]

You can still convert old DM into Euros at the initial rate in Germany (https://www.bundesbank.de/de/aufgaben/bargeld/dm-banknoten-u....)

[mrighele]

The majority of EU member set a limit date: https://www.ecb.europa.eu/euro/exchange/html/index.en.html

[RandomLensman]

I don't think the majority in that list has set a limit for bills, only for coins

[mrighele]

Uhm, i guess you are right. (9 vs 11). Sorry I guess I didn't pay enough attention.

[anhner]

Europe is an unstable third world country, haven't you heard?

[a0-prw]

Denmark must be an unstable, third-world country, then:

https://www.al-bank.dk/presse-og-nyheder/nyheder/2023/1000-k...