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by tialaramex
4 days ago
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> These are a current necessities, but nothing to sanctuarize for the future. Although the ECB does not today "withdraw" notes in the sense that they cease to be valid for most purposes, it does deliberately destroy old notes and issue new ones with different images to replace them, so the original series must be getting pretty rare by now - not rare enough to be worth serious collectors paying money for it, but your ten year old may never have seen an actual old Euro €500 note even though in principle those still are valid money in the Eurozone. |
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Big part of the reason for this appears to be security. Many years ago a high-ranking official from Finnish central bank told in an interview that bank notes need to be redesigned approximately once per decade. Reason is that it takes about that long for the materials and printing technology to get commoditised enough for criminal enterprises to be able to start manufacturing "high-grade" forgeries at any real scale.
Every generation of bank notes employs a whole bunch of newly developed technologies and tricks that make the notes themselves distinctive, as well as incredibly difficult[ß] to forge.
ß: Some of it is down to tightly locked down and guarded speciality supply chains. Some is due to advances in microprinting and ilk. If you had unlimited resources, you could arrange to have the necessary equipment, supplies, staff and materials to print your own forged money. It'd just be slow, low-yield and very expensive.