Spain’s deadline to exchange pesetas for euros has been extended until 30th June, 2021.
The 134-history of the peseta currency (Pta/Ptas) ended in 2002 with the eurozone.
But some €1.6 billion-worth of coins are estimated to be sitting among Spain’s 18 million households, according to the Spanish treasury.
A final deadline was set for the last day of 2020, but due to the pandemic this has just been extended six months more.
Any coins that were still in circulation on 1st January 2002 can still be changed until 30th June, 2021.
But Spain’s minister for the treasury, Nadia Calviño, said that 45% of pesetas still in circulation will probably never be changed.
Expats might have pesetas sitting around as souvenirs, or in too-small quantities to warrant contacting the Bank of Spain to exchange them.
However, certain peseta coins in could be worth anything from €45-20,000.
Below is a list of the most valuable pesetas (from Spanish coin-exchange alotcoins):
- Year: 1949. Coin: 5 pesetas. Collectable value: €12,000-20,000. Why: This Franco coin was made of nickel, but quickly withdrawn from circulation following fluctuations in the price of the metal.
- Year: 1953. Coin: 2.50 pesetas. Collectible value: €17,000. Why: This unique coin was only minted in 1953, making it a rare find.
- Year: 1947. Coin: 1 peseta. Collectible value: €1,400. Why: The so-called ‘blondie’ was the first coin to feature the face of Franco. They are very rare in good condition.
- Year: 1949. Coin: 50 cents. Collectible value: €500. Why: This coin was minted until 1965, but a variant in 1951 celebrating the Second National Exhibition is very collectible. It shows a ship’s rudder and anchor, and features initial ‘E-51’.
- Year: 1975. Coin: 5 pesetas. Collectible value: €400. Why: This coin was minted to celebrate Spain’s hosting of the 1982 football world cup. This coin suffered a minting error in that the year reads 1975.
- Year: 1966. Coin: 100 pesetas. Collectible value: €250. Why: Certain coins have variations in the minting of the year that can see its collectability double.
- Year: 1995. Coin: 25 pesetas. Collectible value: €100. Why: From 1995, this 25 peseta coin with a central hole each year celebrated a separate autonomous community in Spain. Each year’s version is collectible, with the first edition fetching highest prices.
- Year: 1984. Coin: 50 pesetas. Collectible value: €70. Why: This coin was the only available 50 peseta coin for more than 15 years in Spain.
- Year: 1983. Coin: 100 pesetas. Collectible value: €50. Why: This ‘charismatic’ coin was in daily use during the 80s and 90s.
- Year: 1987. Coin: 1 peseta. Collectible value: €45. Why: This coin celebrated Spain’s third national exhibition of numismatics.