"Obviously it is a fraud but it entered the banking system so someone got some real money for it," said a bank spokesman, who was clearly all shook up.
One banknote specialist commented, "I'm sure lots of people would like to see Elvis on a note, but the Federal Reserve would never do it".
The illegal tender was one of a number of personalised Elvis novelty notes that are for sale as souvenirs on the Internet to fans of The King. The German Central Bank displayed it and several others in Frankfurt this week as specimens of the 60,000 fakes which managed to get into the country's monetary system last year.
The bank said most bogus Elvis notes come in 200 euro denominations and have a slimline Presley on the front, before he became addicted to peanut butter, jam and bacon sandwiches. They also come in sterling. Elvis banknotes can be found for sale on eBay for £1.49.
Source: Daily Mail UK