Make a profit from rare coins and defective bills?

A lot of time we happen to find some bills or coins that went through the washing machine for example and are now torn, appear rusty or faded, and at those times we always wonder what to do with them. Can we use them, or should we just get rid of them? We are here to tell you that of course these bill and coins are still valuable and how to replace them or even make a profit of them.

Central Bank of Egypt:

Located in 147 Mohamed Farid Street, Downtown (near Mohamed Naguib metro station). They will replace any old, torn or washed-out bills. For old or faded coins you’ll have to go to the branch located at 54 EL Gomhoria street also in the Downtown area. Your bills and coins will be exchanged for bills of equal value.

                Find out more about the Central Bank of Egypt here.

When will your bills be exchanged for bills of lesser value?

                If the bill you have is torn in half and you don’t have both pieces but the part you have has the serial number on it. In this case the Central Bank will reimburse you with half the value of the bill.

Where can I find the serial number?

                Each bill has a serial number on it in four places. In case any of these numbers are visible you will be able to replace the bill but if all 4 numbers are faded/torn/washed out then you’re out of luck, unfortunately.

What does the Central Bank do with these bills and coins?

                The Central Bank issues a directive to replace the unfit currency with a new bill of the same value.

The pound Abu Jamlin: its price ranges between 200 thousand and one million pounds

The currency used in your grandparent’s era will make you rich!

There are several rare currencies on demand in 2021:

• Sultan Fouad’s Riyal: price ranges from 100,000 EGP to 1,000,000 EGP.
• 5 Milliemes coin issued in 1973: price varies from 15,000 to 20,000 EGP.
• 1 Egyptian Pound banknote (2 Camels): price ranges between 200,000 EGP to 1,000,000 EGP
• 10 piasters (Barizah) and 5 piasters (Shilling/Shillin): from 5,000 to 30,000 but it must have the words “The Egyptian State” printed on it.
• Gold colored 50 piasters coin: price starts from 5,000 EGP.

Where can you buy and sell old currency in Egypt?

• You will find buyers/sellers in large traditional markets, the most famous of which is in Alexandria.
• Online auctions and the rarer the coin/banknote the higher its value.
• Rare currency pages on social media platforms.
• Auctions in Downtown Cairo and Khan El Khalili which are advertised online or in newspapers.