My husband & I buy & sell auctioneed storage units. We recently came into all kinds of foreign money and coins. We turned in the ones from Singapore, Africa, Indonesia and we looked up the exchange rate on the internet b-fore and it looked like we were going to get back a little over $1,000.00. Wrong.. we turned it over to our bank who sent it off for the exchange. We got back about $35.00 ! Reason we were told is: Other countries money (Indonesia) actually looses value the older it is. Not like the U.S. dollar that holds its worth. The older the money is, the less it is worth!
I have to check into some Venuszuela money now!! I still would rather exchange it now. Only coins I hold.
at 4:03 PM on Jul. 11, 2009