€244m in ‘biscuit tin’ punts drops in value

THOSE who have not yet cashed in some €244 million worth of Irish punts aren’t losing any sleep over it as it’s probably in their mattress.

Age-old habits of stashing cash in tins, shoes and beds may explain why so much of the old currency is still out there.

One of the world’s richest tennis players, Roger Federer, recently declared that a “big mattress” might be his salvation in the current world financial meltdown, but the Central Bank has served that one back by pointing out that unconverted punts will continue to devalue over time.