Collectors pay hundreds for old peseta coins (even from 1995)

ANYONE who still has Spain's old currency in their possession has until the end of next year to change it for its equivalent in euros at the Bank of Spain - but depending upon how old and collectible the coins are, selling them online might earn you more.

Peseta coins sold to date have fetched between €45 and €20,000, according to the dealer site Thelemonapp.

Examples include one-peseta coins dating from 1947 - these 72-year-old pieces were the first in which dictator General Franco's face appeared on the reverse and are known colloquially as rubias ('blondes'), and have fetched between €200 and €1,400.

A 2.5-peseta coin from 1953, currently very difficult to find, has a market value of between €750 and €1,700, and the 50-peseta coins minted in 1957 'retail' at about €775 on eBay - although the 'test versions' which were not actually released into circulation have been sold for as much as €10,000.

One of the most sought-after by collectors is the 2.5-peseta coin from 1946 - before Franco appeared on the reverse - and the non-circulating 'test coins' can fetch up to €10,500.

So far, the most lucrative coin sale reported has been that of a five-peseta 1949 piece (pictured), auctioned by Cayón Subastas for a start price of €30,000, but which eventually went for an eye-watering €36,000.

Smaller amounts for more recent coins can be earned on eBay, Foronum and Todo Colección - a 1987 coin can fetch €45, a 100-peseta one from 1983, up to €55, a 50-peseta coin from 1984 up to €70, a 25-peseta coin from as recently as 1995 can earn you €100, and a 100-peseta coin from 1966 or a five-peseta version from 1975 could net you €400 each.

It is nearly 18 years since the euro was introduced, initially running parallel with the peseta, but soon replacing it altogether as legal tender.

By the start of summer 2002, the euro was the only accepted currency, but Spain did not have enough coins and notes in circulation to guarantee providing change for large amounts, causing difficulties at first.

Pesetas could still be changed at high-street banks, although eventually this stopped and they had to be returned to the Bank of Spain if their owners wanted the euro equivalent.

A total of €1.6 billion in pesetas remains in circulation somewhere - either through Spaniards not realising they can change them, or because they are kept as souvenirs, particularly among foreign holidaymakers.