Collection coins valued at two and five euros are in circulation, though they are not commonly encountered. Consumers should exercise caution to avoid being misled, advises DECO PROTeste.
The Bank of Portugal has issued a commemorative coin with a face value of two euros, inscribed with “Sustainable Development,” to mark the National Sustainability Day on September 25. Another two-euro coin scheduled for this year was released in June. These coins were distributed through banks and financial institutions, treasury departments of the Bank of Portugal, and stores of the Imprensa Nacional – Casa da Moeda, explained the consumer protection organization.
DECO PROTeste notes that, throughout 2024, six coins valued at five euros, among other collection coins with face values of two euros and 7.50 euros, with a so-called “normal” finish, were issued.
Five-Euro Notes Will Not be Replaced
Despite the release of five-euro coins, the five-euro notes will not be replaced, and it is not expected that these new coins will frequently appear in circulation, as they will be issued in limited quantities.
Precautions: Validating the Coin
In late 2024, circulating news about a collection coin honoring Cristiano Ronaldo turned out to be false. If you receive a collection coin as payment or change, it is crucial to verify its authenticity, recommended the organization.
DECO PROTeste reminds consumers that the “characteristics of each collection coin are available on the Bank of Portugal’s website. To detect a fake coin, check multiple security elements; do not rely solely on one. Pay particular attention to the relief, edges, and magnetic properties of some coins.”
You should also know that the “five-euro coins introduced in 2024 have a face value of five euros, meaning they are worth as much as five-euro notes.”
What to Do if Paid with a Collection Coin?
If you receive a collection coin as payment or change, it can be used as long as it is accepted as a payment method. “The value of collection coins is the same as the value of current coins and notes,” DECO PROTeste explained.
Economic operators (supermarkets or other businesses, for instance) cannot refuse collection coins, although individual consumers are not obliged to accept them, DECO PROTeste explained.
The Bank of Portugal suggests that if you do not wish to accept the coins, politely request to receive the equivalent amount in another form.
Furthermore, “Since authorized in Portugal, as is the case with one of the five-euro collection coins in circulation since last year, no notes or coins can be refused in principle, whatever their nature. However, no individual is required to accept, in a single payment, more than 50 coins.”
Is Investing in Collection Coins Worthwhile?
Unless the new coins are lost or stolen, purchasing them for no more than their face value – for instance, buying a five-euro collection coin for five euros – carries no risk. It might even yield a profit if, in the future, someone is willing to buy them at higher prices. Otherwise, they can always be used for current payments or exchanged at the Bank of Portugal, the consumer protection organization further explained.
