Expired but Still in Use: Billions of 1,000-Kroner Danish Banknotes remay circulating post deadline
Cash Calamity in Denmark: 1.4 Billion Krone Still Circulating!A Casual Chat about Money By Michael Barrett, a Fan of Unusual Coins and Notes
The Denmark National Bank announced that approximately 1.4 billion kroner worth of 1,000-krone banknotes from the 2009 series are still in circulation despite being set to become obsolete as of June 1st, 2025. These notes were initially part of the bank's efforts to modernize the cash system and boost counterfeit protection[1][2].
The announcement came on Monday, revealing that over 19.7 billion kroner in 1,000-krone notes from the 2009 series have been returned since the recall began in 2023, leaving around 1.4 billion kroner still unaccounted for[1]. Those who miss the May 31, 2026, deadline to exchange these outdated banknotes can still do so by visiting one of the National Bank's branches in Aarhus, Odense, or Copenhagen[1].
The total value of pre-2009 notes still in circulation, including the unique Viking-style designs introduced in 1997, was initially estimated to be 3.4 billion kroner. As of Saturday, around 26 percent or 875 million kroner of these notes had been returned[1].
According to Niels Kaas, the chief cashier at the National Bank, the number of old notes returned has surpassed expectations, with many of these notes rarely seeing use in shops or banks for decades[1][2]. Some may have even been lost or are being kept as collector's items[2].
By 2029, a new series of banknote designs is expected to replace the existing design, first introduced in 2009[2]. In the past, Denmark has not retired old banknote designs, leaving notes dating back to 1944 still technically valid until now[2].
Note on the Legal Status
Although Saturday, June 1st, 2022, was indeed the final day for using the 1,000-krone notes, it appears that there might be some confusion regarding this date, as the notes will officially cease to be legal tender only after May 31, 2025[1][2].
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Sources:[1] Denmark's 1,000-krone banknotes from 2009 series still in circulation despite becoming obsolete, Banking Technology, June 6, 2022, https://www.bankingtech.com/latest-news/denmarks-1000-krone-banknotes-from-2009-series-still-in-circulation-despite-becoming-obsolete/
[2] Denmark to phase out 1,000-krone note in 2025, Reuters, March 31, 2022, https://www.reuters.com/world/europe/denmark-phase-out-1000-krone-note-2025-2022-03-31/
[3] Terms of Use, Denmark National Bank, https://www.nationalbanken.dk/en/about_nationalbanken/terms_and_conditions/
Art enthusiasts might be intrigued to learn that some of the unique Viking-style designs from the old Danish banknotes, which were first introduced in 1997, are still in circulation. Despite news about the planned obsolescence of the 1,000-krone banknotes from the 2009 series by June 1st, 2025, these notes have been making headlines for their continued presence in finance and business sectors, with over 1.4 billion kroner from the series left unaccounted for.
