For a little over a year (on June 21, 2021), the term that the Bank of Spain stipulated to exchange the old pesetas for euros has ended.
Until then, many citizens decided to part with their coins and bills in order not to lose their economic value. Others, however, decided to keep their cash, either for token value or for collecting.
Thus, according to the final balance published by the Bank of Spain, the Spanish have kept 262,000 million pesetas, which in exchange is about 1,575 million euros.
Rated by collectors
Despite the fact that it is no longer possible to exchange them, many coins retain a high economic value among collectors today. Therefore, it is likely to obtain a good sum of money if we have the right coin in good condition.
According to the website , “the 1949 5 pesetas, known as 1949 Duros, are in all probability the fetish valuable coin of coin collecting”. This coin, according to numismatics experts, can have a price that ranges between 12,000 and 36,000 euros in certain auctions. However, there is a small print that must be known before generating false expectations.
“Actually there are 5 different coins of 5 pesetas from 1949” they point out from the web. To differentiate them, you have to look at the numbers stamped on the two stars that are around the word “FIVE”. In this way, there are five different combinations: “19 49”, “19 50”, “19 51”, “19 52” and “E 51”.
“If our coin has 19 49 or 19 50 stars, and it’s in perfect grading, it can have a market value between €10 and €20.” On the other hand, “the one we find with “51” can cost between 3,000 and 6,000 euros,” indicates the website.
And about the rest, the one with the 52 mark, is the most expensive. “About 14 copies are known, and in numismatic auctions it has reached a price of 36,000 euros in 2011, although its most common price is around 20,000 euros,” the website points out.
The explanation is due to the fact that the vast majority of these coins were melted down. “In 1951, due to the Korean War and the increase in the price of nickel due to its increasingly common use in industry, it was concluded that manufacturing this hard had a cost higher than its face value. Therefore, all the coins with stars 51 and 52 were melted down except for a few tens. These few tens were kept by collectors of the time with very high purchasing power and by high authorities of the Franco dictatorship”.
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