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How to change old currency

Updated March 28, 2017

Older currency, foreign and domestic, may have value left. Exchanging this currency at the best possible value can require a little research. Older European currencies such as pesetas, pesos and francs are usually still eligible to be converted and exchanged for current and relevant money.

Gather all of the old currency you wish to exchange. Go over it and identify the country of origin and amount of the proprietary value assigned by the country (for example 1,000 Turkish lira, or 100 Icelandic kroner).

Use an online currency value calculator to determine current market value of the currency in question. Contact a money and coin collector to find out if the currency you wish to exchange is worth more as a collector's item than if you did a simple currency exchange. Use online resources or go to a coin dealer outlet.

Call your bank and ask if they exchange currency, old or otherwise. Use your own bank for the transaction as they give bank account holders better exchange rates, or do not charge a fee for the transaction.

Go to a currency exchange business if your bank cannot handle the currency exchange. Find currency exchange stores in major airports such as Atlanta, New York's LaGuardia or Kennedy or other major city airports. If unsure, contact your local airport and ask if there is a currency exchange.

Tip

Make sure you check to see if your old currency is worth more through a sale to a coin or money collector or through a currency exchange with a bank or currency trader. The goal is to get the best deal possible.

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About the Author

A former Alaskan of 20 years, Eric Cedric now resides in California. He's published in "Outside" and "Backpacker" and has written a book on life in small-town Alaska, "North by Southeast." Cedric was a professional mountain guide and backcountry expedition leader for 18 years. He worked in Russia, Iceland, Greece, Turkey and Belize. Cedric attended Syracuse University and is a private pilot.