another random user writes with this quote from Nature
"Few researchers have given credence to claims that samples of dinosaur DNA have survived to the present day, but no one knew just how long it would take for genetic material to fall apart. Now, a study of fossils found in New Zealand is laying the matter to rest — and putting paid to hopes of cloning a Tyrannosaurus rex (abstract). After cell death, enzymes start to break down the bonds between the nucleotides that form the backbone of DNA, and micro-organisms speed the decay. In the long run, however, reactions with water are thought to be responsible for most bond degradation. Groundwater is almost ubiquitous, so DNA in buried bone samples should, in theory, degrade at a set rate. Determining that rate has been difficult because it is rare to find large sets of DNA-containing fossils with which to make meaningful comparisons. To make matters worse, variable environmental conditions such as temperature, degree of microbial attack and oxygenation alter the speed of the decay process. By comparing the specimens' ages and degrees of DNA degradation, the researchers calculated that DNA has a half-life of 521 years. That means that after 521 years, half of the bonds between nucleotides in the backbone of a sample would have broken; after another 521 years half of the remaining bonds would have gone; and so on."