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What Do We Do Do you have coins, banknotes or currency that you cannot exchange because they are too old and are not used anymore? This is where The Obsolete Money Exchange steps in. We purchase any coins and banknotes for money. How Does It Work Nearly all banks and money exchange services do not cash in coins. The reason for this is it is too heavy and of too small of value for them to transport or make a profit from. This is where The Obsolete Money Exchange steps in. We will exchange your coins, no matter how old, for current money. There are many countries that demonetise or withdraw their banknotes and coins to combat crime, to revalue because of hyper-inflation or to replace with currency that has more advanced security features. Some countries even do this because of a complete change of currency (such as the introduction of the euro). Banks and money exchanges will not cash in these out of date or withdrawn currencies. This is where The Obsolete Money Exchange steps in. We will purchase your coins and banknotes, no matter how old, for current money. Many banks and money exchanges will not cash in currency from small or less frequented countries by tourists. This is because there is little demand for the exchange of these currencies, meaning there is no profit to be made. This is where The Obsolete Money Exchange steps in. We will purchase coins and banknotes from these countries for current money. Have your tries to cash in small amounts of banknotes at a bank or money exchange only to find out the service fee charged is greater than the value of the money you are trying to cash in. This is where The Obsolete Money Exchange steps in. We do not charge a fee for cashing in your coins and banknotes. We will purchase for current money. What Rates Do We Pay The Obsolete Money Exchange calculates the rate on current banknotes at 10% below the current exchange rate as shown on XE.com. The Obsolete Money Exchange calculates the rate on withdrawn, demonetarized or non-current banknotes at 50% of the exchange rate had the note still been current. Where an exchange rate cannot be determined The Obsolete Money Exchange will pay a fair value on the banknote. The Obsolete Money Exchange calculates a rate on current individual coins with a face value of more than AU$0.75 at 50% of the current exchange rate as shown on XE.com. All other coin, including withdrawn coin, demonetarized coin or coins of low face value with be purchased at a rate based on $7.50 per Kilo. How Do We Pay The Obsolete Money Exchange can pay into an Australian Bank Account in AUD. We can also pay via PayPal in USD, NZD, Euro, CAD, GBP or any other currency supported by PayPal. Payment will be made within 20 working days of receipt of your items. What To Do Now To use our services simply download and print out the Purchase Form. Email us a copy of the request form and enclose a copy with your items. When your coins and banknotes are posted send us the tracking number. We will acknowledge the receipt of your items and when your total is tallied up we will notify you of how much we will pay you. Payment will be made within 20 working days of receipt of your items.
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