Withdrawn currency deadline extended
M. Michael Brady
Norges Bank is Norway’s central bank, similar to the Federal Reserve System in the U.S. It determines and advises on monetary, credit, and foreign exchange policy, and it issues banknotes and coins, in series that are periodically updated. It recently announced a ten-year extension to the period in which a banknote or coin withdrawn from circulation may be redeemed.
A banknote or coin in circulation is legal tender for one year after its withdrawal from circulation has been announced. Thereafter, it is not legal tender, but if delivered to Norges Bank will be redeemed at face value for a period of ten years. So if you have Norwegian coins up to 11 years old (1 + 10 years), you may now redeem them by contacting Norges Bank. For further information, visit the bank’s website at www.norgesbank.no; click on ENG at the upper right for English, then on the Notes and Coins link, and finally on the Guidelines—exchange of withdrawn banknotes and coins link.
This article originally appeared in the June 5, 2015, issue of the Norwegian American Weekly.