Paper Money

Older notes from Denmark to expire in 2025

Issues from the Substitution Series of the 1940s will lose legal tender status in Denmark next year.

Images courtesy of Denmark National Bank.

Electronic payments are so much the norm in Denmark that, on a recent trip to Copenhagen, I was looked at with incredulity when I tried to use cash for a $5 pastry and expected the shopkeeper to have change for a 100-krone note (which would exchange for $14.50 U.S.).

Denmark’s National Bank has said cash is still needed in Denmark after all. Since it will also be needed in the future, the bank announced two important developments. The first is that all bank notes from bank note series older than the current Danish bridges and archaeological finds series of 2009 will not be legal tender after May 31, 2025. This demonetization begins with all notes of the Substitution Series, developed in secret under Nazi occupation in 1943 and 1944, for use in the money changeover in 1945 after World War II ended, and subsequent notes from the 1952, 1972, and 1997 series.

One note from the 2009 series, the 1,000-krone note, will be withdrawn. About 16-billion-krone worth of these are still in circulation. The four bank notes remaining will be the 50-, 100-, 200-, and 500-krone notes of the 2009 series.

The bank says the high denomination is no longer needed since only 10% of payments in stores are made in cash, and 90% of cash purchases amount to less than 500 kroner. Not surprisingly, the bank also said, “We are also listening to the concerns and wishes of the police, the financial sector and the retail sector... the 1,000-krone banknote is used to a greater extent than other banknotes in the framework of various forms of financial crime.”

A new, advanced series of bank notes will be launched in 2028 and 2029, Security upgraded versions of the current 100- and 200-krone notes were issued in February, and a revised 50-krone note will follow in 2025. These are called the 2009A series. Both old and new versions will be legal tender.

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