Germany’s Central Bank Flooded With $59 Million Worth of Damaged Bank Notes

Soaked and mouldy euro banknotes are waiting to be dried at the Bundesbank in Mainz, Germany, Wednesday, Sept. 1, 2021. Germany’s central bank says it has been inundated with more than 50 million euros’ ($59 million) worth of damaged bank notes after deadly floods that hit part of the country in July. The Bundesbank said Wednesday that individuals and banks have handed in notes that were soaked in the floods and often also contaminated with oil, sewage or mud. (Boris Roessler/dpa via AP)

The Bundesbank, Germany’s central bank, was flooded with bank notes worth more than 50 million euros’ ($59 million) after deadly floods that hit part of the country in July. The notes were not only soaked in the floods but were contaminated with oil, sewage, and or mud.

The damaged money is dried, flattened out, verified and counted, then destroyed at a center in Mainz that analyzes forged and damaged money. The owners are refunded without charge.

This is nothing new as the banking center usually receives damaged bills of up to 40 million euros per year. Because of the July 14-15 floods, they received 51 million damaged euros. Germans tend to operate on a cash basis more than folks of other European countries.

– Ella Breedlove

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