There are only a few months left for us Spaniards to change the 1,500 million pesetas that we still have into euros. June 30, 2021 This is the date set by the Bank of Spain after being postponed for six more months (initially the deadline for changing pesetas to euros was scheduled to end on December 31, 2020).
The amount of money in pesetas that Spaniards still keep has hardly decreased in relation to the last year. Only 19 million euros have been exchanged according to the latest data published by the Bank of Spain. Of the 264,553 million pesetas that Spaniards still have, 133,774 million pesetas are in banknotes and 130,779 in coins.
Where can pesetas be exchanged for euros?
To be able to change pesetas to euros you must go to the headquarters of the Bank of Spain in Madrid or at any of its branches. It is also necessary make an appointment by calling 913385000 (from 08:00 to 17:00 hours). It can also be done through form available on the website of the Bank of Spain. There is no quantitative limit. The exchange rate is one euro for every 166,386 pesetas. Of course, remember to bring an identity document that allows your identification (ID, passport or residence card).
It is also important to note that not all pesetas banknotes can be exchanged into euros. For tickets issued since 1939 there are no restrictions or conditions. However, yes for those pesetas banknotes that were issued between 1936 and 1939 – these must first be analyzed by experts from the Bank of Spain -.
Regarding pesetas coins, the change can be made with all those pesetas that were in circulation as of January 1, 2002 (including those of 2,000 pesetas, those of collection, commemorative and special).
Can faulty pesetas coins and bills be exchanged?
Only banknotes with an area greater than 50% can be exchanged. Regarding the coins, those that have undergone some alteration (either mechanical or industrial). Impaired pesetas coins, as long as they are authentic and recognized by the machines used for that purpose, may also be reimbursed.