Originally Posted by iff
The $1.28 exchange rate you see is the
interbank rate, which you as an individual will never get. The best rate you could get in a transaction (certain credit cards, for example) would be about 2.5 to 3 cents less (interbank +1%). Cash exchanges have an even lower exchange rate than that;
Oanda lists the typical cash rate as interbank +4%.
As others have mentioned, your best bet would be to find someone who needs euros and make a deal.
If all else fails, you can just remind yourself that it was an unexpected gift and accept whatever amount you get as a nice little sum you didn't have before.
I called American Express platinum desk and they located an agency about 20 minutes away from me that would buy them from me at a little under $1.20 and a $3.00 transaction fee, so I went there and changed them already into US currency, you are right it was an unexpected gift and I sholdnt nickel and dime it, just be grateful for it! Anyway thanks for your advice and its all done now - I received about $4750 for my 4000 euros.
Now I just have to find a few relatives with sterling to give away