For more than a century, the peseta was the currency of Spain, until the euro was introduced in January 2002. Despite the fact that pesetas were able to be exchanged at the Bank of Spain until relatively recently, specifically until June 30th, 2021, they were no longer used to pay on February 28th, the same year in which they coexisted. It is important to note that the value of 100 old pesetas is equivalent to 0.60 euros today, and as a result, they are no longer exchangeable for euros. However, they are still quite expensive.
It has been discovered that a significant number of Spaniards chose to conserve a few pesetas as a memento, a decision that could now be worth thousands of euros. On the numismatic market, which is specifically designed for coin collectors, there are specific coins that can be purchased for over 150,000 euros due to their rarity, age, or exclusivity.
In reality, there are numerous items that continue to possess substantial economic value. A 100-peseta coin entered circulation during the provisional administration that emerged after Isabel II’s fall in 1870. One coin, for example, which is 36 millimetres in diameter and weighs 32.25 grammes of gold, is adorned with an effigy, while the reverse displays the official coat of arms of the monarchy. If you own such a coin, you should inspect it, as you could potentially receive up to 150,000 euros for it.
Coins up to one million
The 1937 one-peseta coin is another of the most valuable pieces, as it is the first of this denomination to be crafted from brass rather than precious metal. This coin, which was referred to as “the grape pesetas,” was produced in 50 million quantities. Consequently, coin collectors may perceive it as less valuable. Nevertheless, it has been sold for as much as €250,000, despite the fact that its distribution was delayed than that of a more common coin:
It is remarkable that certain pesetas are also sold for millions. They are regarded as one-of-a-kind sculptures and have been valued at $1 million. This is the case with a commemorative 25-peseta coin from the 1992 Barcelona Olympics, which is a unique and singular piece due to its unique silver finish. The coin has a flaw in its finish, which makes it a unique and valuable item that can garner up to a million euros on eBay. Nevertheless, its value was further augmented by the fact that it was never placed into circulation and could only be acquired at institutions.
More prevalent but of lesser value
An additional illustration is a 1946 coin that was among the first to exhibit Franco’s portrait on the obverse. However, its uniqueness is derived from its dissimilarity to the portrait on the coins that were introduced into circulation a year later, in 1947. Consequently, it is exceedingly challenging to locate and counterfeit. It is currently available for purchase at a price of 3,000 euros. It achieved its greatest value at a 2011 auction held by Martí Hervera & Soler y Llach, where it was sold for 7,400 euros.
Additionally, there is a 1944 aluminium and copper coin from the Franco era that lacks the dictator’s star and is valued at up to 1,000 euros, contingent upon its condition.
You do not need to travel far to locate coin collectors and purchasers; as we have observed, coins are even sold on eBay. Nevertheless, the prices of these items are subject to significant fluctuations based on their unique characteristics, as there are no established prices in this market. To prevent falling victim to counterfeit coins, it is advisable to purchase and sell coins through official channels.
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