THE National Police have issued a warning about the circulation of an Argentine coin across Spain which is being used as a €2 coin due to its very similar appearance.

Investigators state that over the last few days, civilians have been refused paying for goods using the coins and that shopkeepers have been left bewildered after they were unable to cash the coins at banks, unaware that they were in fact Argentine pesos.

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According to the Police, they have been informed of multiple cases of the fraud, where the coins are being used freqeunetly in many regions in Spain, with Madrid being particularly vulnerable to its circulation.

Not only are they worth a fraction of the price – an equivalent of 0.024 euros, but due to their very small value, they cannot be exchanged at any Spanish bank. The National Police have urged civilians to be alert and to carefully study the coins to ensure that they are not a victim.

The design of a coin with the golden border and silver center is very common throughout the world and very recently the Guardia Civil issued a warning about the Egyptian pound which is also very similar to the €2, but worth less that 0.50 cents. A Moroccan dirhams coin also made its way into Spain last year and is also worth significantly less, with an exchange rate of 0.47 cents.