Currency concern

COINS are a very important part of almost everybody's day­to­day activity in Spain. Of the ones in circulation, one­euro coins are arguably, one of the most commonly used. They are in circulation in greater quantity and are said to be the coins that move the most throughout Europe.

There is however thought to be a large number of counterfeit euro coins in circulation, a number that is said to be increasing every day and which must be stopped, hence this decision.

On June 22, 2023, an authorisation was published in the Official State Gazette (BOE) for the Bank of Spain to withdraw some one ­ euro coins.

Specific guidelines were introduced that will help to decide which ones are withdrawn and which ones can continue in circulation. This new measure has been in force in Spain since July 1, with the clear objective of avoiding possible scams and fighting against counterfeiting.

From now on, the Bank of Spain follows a new classification for the one euro­coins, with three different types:

• Suitable: Coins which can circulate without problem since there is nothing in them that makes one suspect that they may be false.

• Presumably counterfeit: Coins which in their shape, texture or design, show that they are not original.

• Unsuitable: Coins which will be rejected in an authentication process, or that may have been altered. This includes deteriorated or badly damaged coins that cannot be determined to be authentic.

If you are unsure of a coin, take it to your bank where staff will check that the coin meets all the guidelines. It is also recommended that from now on, people should review all their one­euro coins, refusing to accept any that may be thought not to be suitable.