According to various estimates, the value of drachma banknotes that have never been exchanged comes to about 240 million euros, or 82 billion drachmas.

What is a drachma worth?

A modern person might think of one drachma as the rough equivalent of a skilled worker's daily pay in the place where they live, which could be as low as US$1, or as high as $100, depending on the country.

Are drachma notes worth anything?

All drachma bills issued by the Athens-based Bank of Greece have lost their monetary value. However, we give cash for demonetized pre-euro Greek Drachma notes that reflects their numismatic (collector's) value.

How much is a drachma of gold?

Gold coin = 20 drachma = 5.8 gram gold blended or 5.32 g pure gold at 22/24 carats. Divide that by 20 gives 0.266 g of pure gold for 1 drachma.

What does drachma mean in English?

1a : any of various ancient Greek units of weight. b : any of various modern units of weight especially : dram entry 1 sense 1a. 2a : an ancient Greek silver coin equivalent to six obols. b : the basic monetary unit of Greece from circa 1831 to 2001.

1923 - Alexander the Great in Modern Greek Bank Note of Five Drachmas.

44 related questions found

What is Drachma made of?

Golden drachmas are large, round coins that are usually made of gold or silver. They were used as currency by the Ancient Greeks. Mortals used to use the silver drachmas.

Is the drachma still used in Greece?

The Greek drachma was an ancient currency unit used in many Greek city-states and was the basic unit of currency in Greece until 2001 when it was replaced by the euro, which is now the only official currency of Greece.

Can you exchange Greek drachma?

Greek Drachmae are now obsolete. At Leftover Currency we specialize in the exchange of obsolete currencies, like the Greek Drachma. Our online exchange service is quick, easy, secure and free of charge. We exchange both Greek Drachma banknotes, as well as Greek Drachma coins.

How do you pronounce drachma in Greek?

noun, plural drach·mas, drach·mae [drak-mee, drahk-].

Why did Greece stop using drachma?

In 1954, in an effort to halt inflation, the country joined the Bretton Woods fixed currency system until it was abolished in 1973. In 1954, about 30 drachmas equaled 1 U.S. dollar. ... 1, 2002, the Greek drachma was officially replaced as the circulating currency by the euro.

What could a drachma buy?

Eight drachmas would buy a pair of shoes, 20 drachmas a quality tunic and 160 drachmas a slave (child slaves were a bargain at 72 drachmas). A family of four plus slave spent 1,000 drachmas a year on living expenses.

When was drachma used?

Drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. The drachma was one of the world's earliest coins. Its name derives from the Greek verb meaning “to grasp,” and its original value was equivalent to that of a handful of arrows.

What is the Greek Dollar called?

Greece's official currency is the Euro, a European monetary unit used by 19 countries in total.

What is the most valuable currency?

The 10 most valuable currencies in the world

• Canadian Dollar (CAD) ...
• U.S. Dollar (USD) ...
• Swiss Franc (CHF) ...
• European Euro (EUR) ...
• British Pound Sterling (GBP) ...
• Jordanian Dinar (JOD) (Mohammed Talatene/AP Images) ...
• Omani Rial (OMR) (Alexander Farnsworth/AP Images) ...
• Kuwaiti Dinar (KWD) (AP Photo/Greg Gibson)

Does Greece use the euro currency?

Greece joined the European Union in 1981, and adopted the euro in 2001 in time to be among the first wave of countries to launch euro banknotes and coins on 1 January 2002.

How much is 75 drachmas?

Julius Caesar's will specified a gift of 75 Attic drachma's for every roman citizen. The income at the time for a skilled worker was 1 drachma a day wiki. At a wage of $20 USD/hr that is approximately $12,000 USD.

Who are Athenians?

The Athenians were residents of the ancient city-state of Greece, Athens, in around the 5th century BC. In contrast. the Spartans of Sparta were a war-like peopls, the Athenians were dedicated to excellence, artistry, and knowledge. These people valued individual freedom and established the first democracy.

How long did Greece use the drachma?

The drachma was Greece's national currency from 1833 to 1 January 2002, when euro banknotes and coins were put into circulation in Greece, at the same time as in the other euro area countries.

Are Greek coins worth anything?

Today ancient Greek coins are also numismatic coins. This means that they are worth more than the value of their precious metal and are therefore valuable collectibles. Their added value is mainly a result of their ancient history and rarity.

What was the two drachma tax?

There was a tax in the days of Jesus called, “the two drachma tax.” It was a temple tax with an obscure history. In Exodus 30:11–16, God instructed Moses to collect a half shekel flat tax from those over the age of twenty. This occurred during the time of the census, which is the Book of Numbers.