If you’re like me, then chances are you have a lot of foreign currency sitting around in your drawers. But what do you do with it?

First, you have to figure out if it’s still legal tender and if it’s in good condition.

Start with the Foreign Exchange Department at your local bank.

They’ll inspect the money and whatever passes muster will be credited to your account or given to you in cash.

Or you can try an independent foreign exchange bureau such as Travelex.

They’ll charge you a fee, but they’re generally in convenient locations, like the airport.

But if you have coins, this is where it gets tricky.

You can usually exchange coins that are still in circulation, but only those with real value, like a Euro.

Otherwise, you’re better off starting a coin collection and believe me, I’ve got a large one.

But here’s another tip: before your foreign currency becomes worthless, why not put it to good use.

The Change for Good Program is a partnership between UNICEF and many major airlines, where you can donate spare coins and paper money while you’re still on the plane.

For more great experiences, check out our Money, Currency & Credit section.

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