I am often asked about the value of silver 2000 pesetas coins. I am not an expert in Spanish coin collecting, but I have done some research on these coins in particular.
In this article I tell you what I learned about the 2000 peseta coins. When did they begin to be issued and in what year did they stop being minted? How many coins of this type exist and what is their value?
You will find these and other answers in the article I wrote to share with you about the 2,000 pesetas.
When were the 2000 pesetas coins minted?
The 2000 pesetas coins were minted between 1994 and 2001. Each year between the mentioned dates coins were issued with different motifs, with eye-catching designs that any collector or numismatist would admire, without a doubt.
The 2000 pesetas of 1994 are made of .925 silver and weigh 18 grams. Therefore, each coin has 16.65 grams of silver, and the rest of other metals that offer hardness to the piece, since silver is a quite noble metal, which in its pure state wears out more easily.
The coin minted in 1994 is one of the best known. Of course, it is the one for which I receive the most queries on this site. Probably because it was the one with the largest mintage. The FNMT reports more than 8 million 1994 pesetas. Almost all Spaniards of a certain age or older have seen one of these coins at some time.
From the quantities issued it would seem that the objective of the 2000 coins was to become part of the circulating money in Spain. This thesis is also supported by Francisco J. López in his COLEMONE site.
However, the 2,000 pesetas circulated very little, and this is quite curious.
We could be in the presence of a case where Gresman’s Law was applied. That is to say, the “bad” money, 2,000 peseta bills, for example, expels from the market the “good” money that people prefer to hoard because of its value, which exceeds the face denomination.
How many 2,000 peseta coins are there?
A total of 27,022,385 million 2,000 peseta coins were minted between 1994 and 2001, when this type of coin was discontinued. Below, we will review the motifs and designs of the 2000 peseta coins minted over the years:
Joint Assembly of the International Monetary Fund and the World Bank
The 1994 2000 peseta coin was dedicated to the International Monetary Fund and the World Bank. A total of 8,670,250 of these coins were minted for circulation.
On the obverse of the 2000 peseta coin we have the effigy of King Juan Carlos. On the reverse we observe the facade of the Bank of Spain seen from the Plaza de Cibeles. The selected edge is smooth.
Spanish Presidency of the Council of the European Union
In 1995, 6,151,000 2000 peseta coins were minted, dedicated to the Spanish Presidency of the Council of the European Union.
On the obverse, the design of the effigy of King Juan Carlos is repeated, a motif that will be repeated in the following issues until the year 2000. The reverse shows a perspective view of the façade of the Royal Palace of Madrid; and is accompanied by the logo of the Spanish Presidency of the Council of the European Union.
250th Anniversary of the birth of the painter Francisco de Goya y Lucientes
On March 5, 1996, the issue of 3,781,150 silver 2000 peseta coins dedicated to the birth of Goya was approved. A figure of the Spanish plastic arts that needs no introduction.
The obverse design is repeated. The reverse, on the other hand, features a fragment of Francisco de Goya’s painting “The Dressed Maja”. This particular piece is one of the best known of the painter at an international level.
450th Anniversary of the birth of writer Miguel de Cervantes Saavedra
The 2000 peseta coins join the list of monetary pieces that paid tribute to Cervantes on the 450th anniversary of his birth. The BOE of April 29 authorized the minting of these coins, which totaled 2,587,750 coins.
The reverse of the coin shows a view of the equestrian figures of Don Quixote de la Mancha and Sancho Panza, as they appear on the monument in Madrid’s Plaza de España. Below the characters, we find the silhouette of an open book with the crowned M and the number 97.
400th Anniversary of the death of the Spanish monarch Philip II
In 1998 the 2,324,000 coins minted were dedicated to the 400th anniversary of the death of Philip II, monarch of Spain between 1556 and 1598.
This year the obverse has a slight modification with respect to the design of the previous 2000 silver peseta coins. The graphylation is added. A series of dots under the listel that was not present previously.
The reverse features two figures. On one side, the bust of King Philip II, which is accompanied by a view of the Royal Monastery of San Lorenzo de El Escorial. Pearl engraving was also added on this side of the coin.
Xacobean Year 1999
In 1999 the 2000 peseta coin was dedicated to the Año Xacobeo. The Año santo jacobeo is a Spanish celebration that takes place whenever July 25 falls on a Sunday. It is a Catholic celebration that is due to Santiago de Compostela.
This year the obverse design is repeated, including graphylia, which do disappear on the reverse. The reverse presents a cross, the figure of a pilgrim and in the middle an oval with the number 99 inside.
It is striking that the BOE publication mentions the graphylia on this side, but the pieces I have seen do not have it. Could it be one of those errors that enhance the value of the coins?
V Centenary of the Birth of Charles V
In 2000 the issue of 2000 peseta coins fell below 2 million for the first time. In fact, 1,565,400 coins were minted dedicated to the 500th anniversary of the birth of the monarch Charles V.
This year there are no changes in the obverse with respect to the previous design. On the reverse, the graphylia returns, in this case surrounding three figures: the bust of Emperor Charles V; a silhouette of the imperial coat of arms; and in the lower part, a shield with the last two digits of the mint year 00 and the crowned M. The coin also features the legends in the lower part of the coin. The capitals “V CENTENARIO” and “CARLOS V” can also be read.
The 2000 pesetas coin of 2001 is the last of its type. This is expressed in the same coin, the phrase “LAST ISSUE OF THE PESETA” is stamped on it. The motif of this coin is Hispania.
For the first time the obverse is significantly modified. The effigy of Doña Sofia is added in the background behind the bust of Juan Carlos. It also changes the legend, which now reads “JUAN CARLOS I Y SOFÍA”.
The reverse is dedicated to the matron Hispania. A highly symbolic figure, with a numismatic tradition that dates back to the Roman coins minted in the 80’s B.C. under the Annia family.
Which coin replaced the 2,000 peseta coin?
With the entry of Spain into the European monetary system, the 2000 peseta coin ceased to be issued, and was replaced by the commemorative coins of 12, 20 and 30 euros.
Although they are totally different coins, we could perfectly well say that they continue the legacy of the 2000 silver peseta coin.
How much are the 2000 silver Spanish pesetas worth?
Many people believe that the 2000 pesetas are small treasures in coin form. However, most of these coins do not exceed the value of the silver at the time they are appraised.
Being coins that exist in abundant numbers, the value will depend more on the presentation of the coin, and the demand of collectors.
The 2000 pesetas coins can be found in three presentations:
- 2000 peseta coins in numbered wallets.
- Coins of 2000 pesetas in plastic bags.
- 2000 peseta coins in hand, or loose.
Coins in numbered wallet can have a price between 18 and 20 euros . The presentation and the state of conservation play a determining role here.
On the other hand, the 2000 pesetas coins in plastic bags are around 15 euros .
Logically, these are reference prices. How much can you ask for a 2000 pesetas coin? Or how much should you pay for one if you want to buy 2000 pesetas? It depends on where you are buying them, when and, above all, on their conservation.
Finally, those loose coins, which are not found in any of the above presentations, have the fair value according to the price of silver at the time the inquiry is made. If the value of a gram of silver goes up, the price of the loose 2000 pesetas coin goes up; if silver goes down you know what happens.
Conclusions about the 2000 pesetas coins
In my opinion the 2000 pesetas coins are perfect for those who want to get started in the world of coin collecting. We could see these coins as specimens of a short series, accessible and with beautiful designs.
We know exactly when 2000 pesetas coins were first issued, and when they were discontinued. We would not be, as in the case of the valuable 2 euro coins, looking at an expanding group of coins and not knowing when or how our efforts will end.
That said, don’t expect to become a millionaire if you find one of these pieces in grandpa’s drawer. Silver pesetas do not exceed twenty-something euros in price in any case. I hope this article helped you to better understand the value of 2000 pesetas coins. If you liked it, share it on your social networks and leave me a 5 star rating here below. Thank you.
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