Greece leaves Euro; old Drachma or new Drachma?

[Pennysaved]

What do you think the chances are now that Greece will leave the Eurozone and go back to the drachma?

If they leave, will they go back to the Drachma pre-Euro or would they come out with a new demonitized Drachma?

I've come across some Greek Drachma coins going through dealer's foreign bins and always bought them; just curious if there is an opportunity to stack them and make a profit??

[agmoose]

Interesting thought on acquiring some via the foreign bin on the off chance they end up with some value.

I'd imagine they'd revert to the drachma, but somehow the values would probably need to be adjusted/revalued. I'm not sure if I'd say they are leaving the Euro or being kicked out - I guess it depends on thier public vote. Seems that many would just as soon kick them out than deal with them any longer. Just my .02 from afar though.......

[Sheikh_yer_Bu'Tay]

What do you think the chances are now that Greece will leave the Eurozone and go back to the drachma?

If they leave, will they go back to the Drachma pre-Euro or would they come out with a new demonitized Drachma?

I've come across some Greek Drachma coins going through dealer's foreign bins and always bought them; just curious if there is an opportunity to stack them and make a profit??

That is a great idea! I was wondering the same thing. How could you find out if they are going back to the old Drachma? There is wealth to be made if you could answer that question.

[Tourney64]

I don't think the Drachma will have any value no matter what Greece does.

[inflationhawk]

They were demonetized already with the move to the euro. What you have is of numismatic value only. A new currency unrelated to the old drachma would have to be created. They could call it drachmas or whatever they want, but the old ones won't be useable.

[avidbrandy]

If you're going to do this as an investment, why not just short the euro? In the event of greece leaving, due to the domino effect, it will lose 50-60% of it's value. and if you're trading on 50:1 margin like most Forex accounts, it's some good money.

[Rodebaugh]

Greece is going nowhere.......A bailout will happen whether folks vote for it or not.

[Lemon Thrower]

several european countries may leave the euro. they'll start their own currency and it could be called drachma, lira, deutsche marks, whatever. but the old ones will not become money again. the new ones will look different. there will be no windfall for the people holding the demonetized notes.

[PolishPunisher]

Has Greece, Italy, Germany, France, etc. kept or destroyed the old coins? If Greece has vaults full of drachma already, why not use them? It'll take a while to get enough coins minted for commerce. Of course, Greeks could still accept the Euro even though it isn't technically the currency of the country after leaving the Eurozone.

[cupronickel]

Demonetized money is never brought back to life. The new currency may look like, smell like, and sound like the old currency, but only the new currency may be used. The whole point of the new currency is so that they can print as much as they want. It would make no sense to allow the old stuff back.