Ever found a crisp IR£20 note tucked inside an old birthday card or hidden in the lining of a vintage suitcase? It’s a weird feeling. You’re looking at Lady Lavery’s face, thinking this paper is basically a museum piece. But here is the thing: it isn't just paper.
People often assume that when Ireland switched to the euro back in 2002, the "old money" simply expired. Dead. Useless. Honestly, that’s one of the biggest misconceptions out there. While you can't walk into a shop in Dublin and buy a pint with a punt anymore, that old currency still has a specific, fixed value.
If you are trying to figure out the conversion of irish pounds to dollars, you have to take a two-step journey through time and central banking.
The Secret Math of the Dead Currency
You can't go straight from the Irish pound (IEP) to the US dollar (USD) on a live market. Why? Because the Irish pound doesn't "float" anymore. It’s "locked" to the euro.
Back on January 1, 1999, the exchange rate was set in stone: €1 = IR£0.787564.
That number is the key. To find out what your old notes are worth in American money today, you first convert the pounds to euros using that fixed rate, and then you check the current live market rate for euros to dollars.
Let's say you found an old IR£50 note.
- First, divide 50 by 0.787564. That gives you roughly €63.49.
- Then, you look at the current EUR/USD exchange rate. If the dollar is trading at 1.10, your old IR£50 is worth about $69.84.
It’s basically a financial time machine.
Why Ireland Ditched the Punt
For decades, the Irish pound was essentially the little brother of the British pound sterling. They were pegged 1:1. If London moved, Dublin moved. It was comfortable, sure, but it meant Ireland didn't really have control over its own destiny.
In 1979, Ireland finally broke that link. It was a massive moment for national identity. Suddenly, the "Punt" was its own beast, fluctuating against the dollar and the British pound on its own merits.
By the late 90s, the push for a unified European currency became too strong to ignore. On New Year's Day 2002, the physical transition began. People had just a few weeks of "dual circulation" where they could use both punts and euros. By February 9, 2002, the Irish pound was officially retired from the streets.
Can You Actually Get Cash for Them?
Yes. Unlike some other European countries that put a "use-by date" on their old national currencies (looking at you, France and Italy), the Central Bank of Ireland still honors every single note and coin issued since the foundation of the state.
They don't care if it's a "Series A" note from the 1920s or the "Series C" notes designed by Robert Ballagh that most people remember.
How the exchange works:
- In Person: You can visit the Central Bank of Ireland’s office in North Wall Quay, Dublin. You usually need an appointment and a valid ID.
- By Post: You can actually mail your old notes to the Central Bank. You have to fill out a specific form and send it via registered mail. If the value is over €750, they’re going to ask a lot of questions about where the money came from—standard anti-money laundering stuff.
- The Payout: They won't hand you US dollars. They will calculate the euro value and transfer it into a bank account. From there, you can convert it to USD at any standard bank or currency exchange.
Collectors vs. The Bank: Where is the Most Value?
Before you rush to the Central Bank to trade in that old tenner for a handful of dollars, stop. Check the condition.
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Some Irish pounds are worth way more to collectors than their face value. For instance, the "Ploughman" bank notes from the late 1920s can fetch thousands of dollars at auction if they are in good shape. Even the "Lady Lavery" notes (Series A) are highly sought after.
If your note is from the 1990s and it looks like it's been through a washing machine, just take the bank's exchange rate. But if it’s crisp, rare, or very old, the "market value" in dollars might be ten times the "exchange value."
Moving Your Money into 2026
Converting irish pounds to dollars is a reminder of how much the financial world has changed. We’ve gone from physical paper tied to the British Empire to a digital-first economy.
If you are holding a significant amount of old Irish currency:
- Audit the stash: Separate coins from notes. Coins have a lower "hassle-to-value" ratio, but they still add up.
- Verify rarity: Use a site like Irish Coinage or check recent eBay "sold" listings to see if you have a collector's item.
- Prepare for the Central Bank: If it's just standard "pocket change" from the 90s, download the "Exchange of Irish Banknotes" form from centralbank.ie.
- Watch the Euro/USD rate: Since your punts convert to a fixed amount of euros, your final "dollar" payout depends entirely on the strength of the dollar on the day you finally move the money out of your Irish account.
Don't let that money sit in a drawer. Even with inflation eating away at the purchasing power since 2002, $70 is still $70. It’s better in your pocket than sitting in a forgotten envelope.