The Bank of Spain has announced the coins that are no longer worth buying: discover them!

2024-02-13 15:02:23

Coins also go down in history. Since last February 1, seconds the Bank of Spainthere will be certain currencies that will no longer be validlosing its value by make financial transactions. This measurement it came out in the BOE (Official Gazette of the State) and was made official in the Law 31/2022 of the general budgets of the State 2023. Do you want to know what these coins are?

The reasons for withdrawal

There are several speculations about it, as they want to eliminate physical currency and want to make all economic management work through card or internet transactions. Covid-19 did that coins lose physical value and now, many people go without cash. Payment is usually made with Contactless, Bizum or card.

One of the other speculations is that they want to avoid scams with fake or defective coins, that’s why they apply the Law of Regulation of the Metallic Currency. With this action they will prevent fake coins from circulating. Doing periodic reviews serves to control the money market.

Goodbye to certain €1 coins in July – change them now

The real cause of withdrawal

Seconds the Bank of Spain does not intend to eliminate the currency with this measure. Not more they want to manage to maintain a safe monetary system, avoiding fraud. Every so often some coins or notes must be withdrawn in order to ensure this security. Renewal and control are key against fraud. Circulating counterfeit coins and notes is one crime, so, action should be taken against this type of scam. Sometimes we can have fake coins and not because we manufactured them, but because they slipped them into us and we don’t know until we take them to the bank Collaborating together is key egr put an end to monetary scams.

What coins should I bring to the bank?

According to the BOE there are about 8 coins you can no longer use to buy or pay. En case only and establishment detects one of these coins, it won’t accept it and it won’t be good for you to buy. Thereforethe recommendation of the Bank of Spain is that you take these coins to the bank. The entity will give you valid coins of the same amount.

Another option is for you to collect them, as over time, we all know that these coins can become worth a lot of money. Now, the decision is yours.

The currencies that will change you at the bank freepik

These are the coins that will no longer be worth buying

• 2 euros from before 2004

• 1 euro from before 2002

• 1,2,5,10,20 and 50 cents from before the 1999

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