2000 Pesetas - Juan Carlos I Replica

Issued by the Real Casa de la Moneda in the final months before Spain's peseta ceased to be legal tender — replaced by the euro on 1 January 2002 — this piece belongs to a wave of commemorative replicas produced as the currency wound down. It is not a reissue of a circulating coin but a deliberate souvenir of one, struck after the original denomination had already become obsolete. The silver cladding over copper-nickel kept production costs below those of a true silver issue while preserving the appearance of a precious-metal piece for the collector market.