Bank notes from the Free Banking Era in the United States (1837-1863). During this era the U.S. had no central bank and paper money was issued by a variety of private banks. Some was even issued by manufacturing and retail companies. This money was backed by gold, silver, real estate, stocks, bonds, and a wide variety of other assets. You can no longer cash them in, but they are now worth often substantial sums as collectibles. As you can see below, the note designs were more varied and creative than modern money, and were remarkably free of politicians' faces.

BERLIN - A retiree in northern Germany flushed some 30,000 marks (euro15,300, US$18,900) down the toilet, believing the old bank notes were worthless, police said.

Officials were alerted by a blocked pipe in the northern city of Kiel. A cleaning company employee extracted soggy bundles of bank notes, but more money got away as the water started flowing again.

Investigators then discovered that the retiree had reported a blocked pipe at his house the same day. They visited the "slightly bewildered" man at his apartment and he confirmed that he had flushed the money away, a police statement issued late Wednesday said.

The 64-year-old "was of the opinion that mark notes no longer had any value," it added. He still had another 30,000 marks at the apartment, as well as euro14,000 (US$17,300) in euro bills.

Police accompanied the retiree to a bank, where he deposited the money.

Euro notes and coins replaced 12 national currencies in 2002. Europeans can still exchange the old money at their central banks.