Norges Bank Destroys Millions of Norwegian Krones

Bank notes of the Series VI produced between 1977 -2001 will be outdated November this year.

This includes 50-krone notes with the portrait og Aamund O. Vinje, 100-krone notes with portrait of Camilla Collett, 500-kroner notes with portrait of Edvard Grieg and 1000-kroner notes with portrait of Christian Magnus Falsen.

Norges Bank reminds people to change in these notes as they wont be valid at 1st of November this year. Today banknotes with value of more than 40 millions of Norwegian krones was cut to pieces and later burned as they are less secure thus more exposed to counterfeiting.

‚Äď Now and then we need to upgrade the banknotes. When we publish a new series of notes is it due to need of increasing the security level. We may create a more advanced watermark, add holographic elements or user other methods, the director of Norges Bank Trond Eklund says to NTB.

Norges Bank may decide that banknotes and coins are to be withdrawn from circulation, cf. Section 15 of the Norges Bank Act. The decision to withdraw notes and coins is announced in the Norwegian Legal Gazette (Norsk Lovtidend) and Norway’s largest newspapers.

Following the announcement, the notes and coins continue to be legal tender and may be used in the normal manner for one year. After that, Norges Bank is obliged to redeem the notes and coins for an additional ten years.

The general public is encouraged to contact their bank if they wish to exchange withdrawn notes and coins for legal tender during the 10-year period. For banknotes in Series VI the 10-year period ends 1 November 2012.

Norges Bank is obliged to redeem the withdrawn notes and coins.  However
 as Norges Bank exchanges notes and coins at face value, some of the denominations may have collector’s value and have more value.  Regarding this a coin dealer may be contacted.

The withdrawn notes may be exchanged at following addresses:

Norges Bank’s head office in Oslo: 
Norges Bank’s head office, P.O. Box 1179 Sentrum, 0107 Oslo, Norway
Visiting address: Bankplassen 2

P.O. Box 489, 9255 Troms√ł, Norway
Visiting address: Bankgata 9/11

7005 Trondheim, Norway
Visiting address: Peter Eggesplass 2

P.O. Box 4132 Dreggen, 5835 Bergen, Norway
Bes√łksadresse: Bradbenken 1

P.O. Box 210, 4065 Stavanger, Norway
Visiting address: Strandsvingen 10

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