Euro banknotes in August 2018, there were about 21.737 billion banknotes in circulation around the Eurozone, with a total value of about €1.193 trillion. On 8 November 2012, the European Central Bank announced that the first series of notes would be replaced by the Europa series, starting with the 5 euro note on 2 May 2013. Estimates suggest that the average life of a euro banknote is about three years before it is replaced due to wear, but individual lifespans vary depending on denomination, from less than a year for €5 banknote to over 30 years for €500 banknote. High denomination banknotes
Banknote Museum Banknotes issued by the provisional "mountain government" are also exhibited. This currency was valued against the equivalent value of kilograms of wheat. The 100 billion drachma banknote during the hyperinflation years of 1944 is also featured. It remains historically the highest banknote denomination in Greece and after the hyperinflation ended its value fell to just 2 drachmas. The museum is located on Aghios Spyridon Square in Corfu city and the admission is free. The museum also hosted a conference held between June 9–10, 2006, under the title of "The Economic Development of South-eastern Europe in the 19th century". Banknote Museum