Lately, I’ve received a few questions about the 1995 2000 pesetas silver coin commemorating the Spanish Presidency of the EU Council, and almost always asking about its value or its price.
So today, let’s see exactly how much the 2000 pesetas (or 2000 ptas) coin from 1995 is worth, whether they really circulated or not, whether they can be sold, and what they commemorate exactly.
What value does a 1995 2000 pesetas silver coin have?
Whenever the FNMT, the Spanish National Mint, issued a coin from its 2000 pesetas series, it put the piece in a small plastic bag. The 1995 2000 pesetas silver coins were no different.
In addition, a numbered coincard was also sold with a slightly more elaborate presentation and an explanatory text inside.
Depending on what presentation you have, or want, whether in a bag, in a coincard, or loose, it will be worth a different amount of money.
If it’s loose, it means it has been taken out of the plastic bag or the coincard in which it was issued, and therefore the current value of the 1995 2000 pesetas coin is the value of the silver with which it is made.
The 1995 2000 pesetas coins are made of .925 silver and weigh 18 grams, which means the coin contains 16.65 grams of silver. Multiply 16.65 by the price of one gram of silver and you will have the value.
The price of silver changes daily. You can see how much it’s worth today here.
If you want to buy it, its price should be around 14 or 15 dollars, always fluctuating according to the price of silver in the markets.
In a Plastic Bag or in a Coincard
If you want to sell the 1995 2000 pesetas in a bag or a coincard, that is, in an uncirculated condition, you will probably get one or two euros more than its worth in silver.
If you want to buy it, its price should be around 16 or 17 dollars in a bag and somewhere between 18 and 21 dollars in a coincard, again, always fluctuating according to the price of silver in the markets.
Selling a 1995 2000 Pesetas Coin
Finding where to sell a 1995 2000 pesetas coin is not easy.
Given its very large mintage and the time that has passed since its issue, almost everyone who wanted it in their collection has already acquired one.
You can take it to a coin shop near you, but it is more likely that, if they buy it from you, they will offer a low price for it, as most stores still have pieces of these in stock. The advantage is that you don’t have to do any more work: you bring it, sell it, and forget about it.
The other option is to sell it yourself on eBay, Craigslist, or in collector groups on Facebook, with all the work that entails: taking good photos and writing a detailed description of its condition. You might get a couple of dollars more, but you have to be patient, as sales through these channels are usually much slower.
Did the 1995 2000 pesetas coin circulate?
Yes. But not much.
The total mintage of the 1995 2000 pesetas, according to official data from the Spanish National Mint, was 6,151,000 coins.
This is a huge mintage. And it cannot be explained by the novelty of minting a silver coin: the 1994 2000 pesetas coin had already been issued.
In addition, the population of Spain in December 1994 was 39.6 million people. That is, in 1995, they minted one 2000 pesetas coin for every 6 people, approximately. Those are the numbers of a piece intended for circulation.
Finally, if we read Article 3 in the Order of March 24, 1995, which regulated its minting and circulation, it says that “this coin will be accepted in public coffers without limitation, and among individuals up to 20,000 pesetas, regardless of the amount of the payment” (my translation).
However, it didn’t circulate much.
I think the reason for this can be found in Gresham’s Law, which states that when two coins of the same face value circulate at the same time, and one is seen as a bad coin and the other as a good coin, the bad one will be used more often than the good one, and the good one will be hoarded.
And when the first 2000 pesetas coin was issued on Monday, October 3, 1994, Spain already had a 2000 pesetas bill.
What are the 2000 pesetas from 1995 dedicated to?
The 2000 pesetas coin from 1995 is dedicated to the Spanish Presidency of the Council of the European Union, held in the second half of that year.
The Presidency of the Council of the European Union is a rotating position that each member state holds for six months. The state that holds the presidency is responsible for organizing and hosting all meetings of the Council of the European Union, as well as setting a priority agenda for the Council to focus on during its term. The presiding state also plays a key role in advancing the goals of the EU, representing the EU on the global stage, and facilitating the decision-making process among the EU’s institutions.
The coin features the Royal Palace in Madrid, seen from the Sabatini Gardens. There, on December 15 and 16, 1995, a European Council meeting took place, focusing on the future enlargement of the EU and the implementation of the single currency. This is where it was decided it would be called the “euro”.
It’s not like the topic is very interesting, but in my opinion, the coin is kind of attractive. Even so, there are still many people who have one of these coins saved at home, which is why it’s not worth that much. However, among Juan Carlos I’s circulating pesetas, it is one of the most valuable. That will tell you how much the rest of them are worth.