everyday some coins and notes get old and need to be taken out of circulation (i imagine). how does a central bank (?) manage this flow of new and old cash? how do they know how much new cash is needed? how do they take some out and put new in? what do they do with old money that cant be used?
i was curious 🤷🏼♂️ happy for any and all feedback.
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The Mint sends out a notice that you can physically exchange banknotes of the old currency for an equivalent value of the new currency at a bank.
It then destroys banknotes of the old currency.
The Mint also sends out a notice after an expiration date, banknotes of the old currency will be no longer enforced as being accepted as legal tender.
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