How To Exchange Old Brazilian Money

how to exchange old brazilian money

Understanding the History of Old Brazilian Money

Before diving into how to exchange old Brazilian money, it's crucial to understand its history. The Brazilian currency has undergone many transformations, making Brazil a country with a highly diverse currency history. From the iconic ‘Cruzeiro,’ ‘Cruzeiro Real,’ ‘Cruzado,’ to the current Brazilian ‘Real,' the money in circulation has seen significant evolution.

The Current State of Old Brazilian Money

Today, the old versions of the Brazilian currency are not in circulation or official use, rendering them useless unless converted or exchanged. Thus, if you've found yourself in possession of old Brazilian money, worry not - there are several routes you can take to exchange or sell them.

Visiting a Bank or Exchange Bureau

Your local bank or currency exchange bureau may accept old Brazilian money for conversion. However, remember that not all banks or bureaus accept outdated foreign currencies, so contact your branch to inquire about their policies. If they do accept old Brazilian currency, be ready to provide necessary identification and comply with any other required procedures.

Exchanging in Brazil

If you're frequently traveling to Brazil, consider exchanging your old Brazilian money while in the country, as local banks or currency exchange bureaus are more likely to accept it. It's also possible to exchange your old Brazilian money through the Central Bank of Brazil, although this can be quite a bureaucratic process and not always the most convenient route.

Going Through a Coin Dealer or Numismatic Specialist

Coin dealers or numismatic specialists often buy old foreign currency, particularly if they are rare or in good condition. Research reputable dealers online, or visit local coin shows and venues. Prices offered can vary, so it's advisable to request appraisals from multiple dealers to ensure you get the best value.

Using an Online Exchange Service

Several platforms online offer currency exchange services, including old Brazilian money. These include Leftover Currency and the Forgotten Bucks, among others. These platforms typically feature an easy step-by-step process for sending your currency and getting it exchanged. The conversion rates may not be as high as other methods, but they offer a convenient solution if no other options are available.

Donating the Coins

Incredibly, some charity organizations accept outdated or discontinued foreign currency for donations. Such organizations then exchange the currency or sell it as collector's items to raise funds. So, if you're not worried about extracting value from your old Brazilian money, donating it for a good cause is an excellent option.

Final Thoughts

Exchanging old Brazilian money may not always provide a hefty sum in return, given their out-of-circulation status. However, utilizing the best method suited to you can still grant some value for your old coins and bills. Whether you choose to go through a bank, a coin dealer, an online exchange service, or even donate, be sure to thoroughly research your chosen method, so you're aware of any fees or regulations involved.