This is the 1-euro coin that could fetch up to 700 euros at auction

Coin collectors could be in luck if they have in their possession a coveted 1-euro specimen, whose price can fetch up to 700 euros

Coin collectors could be in luck if they have in their possession a coveted 1-euro specimen, whose price can fetch up to 700 euros. It is a coin from the last century, and its exclusivity lies in its age. The year was 1999 and the dreaded 'Y2K bug' was the main concern at the time, as well as the impending change to the Euro across much of the EU.

In Spain the change was gradual and the euro coexisted with the peseta for more than a year, until 1 January 2022, when it became the only valid currency. Three years earlier, in 1999, the first euros began to be minted, allowing the public to get used to them.

This exclusive coin dates back to 1999 and sells for around 700 euros on specialised sites as only a few were produced. On the front it is an ordinary coin. Its '1 euro' symbol and its gold and silver colours make it look like any other. However, it is the other side that justifies its high value.

On the back, the coin, minted in France, shows the French motto 'Liberté, Egalité, Fraternité', together with the initials of the French Republic (RF) and a tree with many branches and leaves. The detail that boosts the value of the coin is precisely the year of minting: the 1999 at the bottom.

Other valuable currencies

There are many other valuable coins that are resold on the market. Five-peseta coins, also known as "duros", are a type of coin minted from the end of the 19th century until the introduction of the euro. According to data from the Banco de España, at the time of the changeover from pesetas to euros, not all the old coins were updated. In fact, it is estimated that 266,051 million of these coins remained unchanged.

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It is therefore not unusual to find peseta coins still hanging around in many Spanish households. As the peseta was withdrawn from circulation it started to increase in value among coin collectors.

Certain specimens have managed to fetch thousands of euros on the market. According to Rafael Sánchez, a coin expert, the five peseta coins, for example, have a high value. This is because they are difficult to find or are part of a well-known collection.

As for the conditions that characterise a coin of this type as valuable, Sánchez explains that it must be in excellent condition. However, in some cases, pieces with minting errors or rarities can be even more valuable.