Pesetas can still be exchanged.

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Even though the euro replaced the peseta 15 years ago, Spaniards still have a whopping €1.67 billion worth of the country’s old and now unusable currency stashed away in draws and collector’s albums, the Bank of Spain says.
Fortunately for those who have just stumbled upon an old stash of pesetas, Spanish authorities will allow the old money to be exchanged for euros until 2020.
It’s been 15 years since the EU currency took centre stage in Spain and 13 since it completely replaced the peseta as the only currency that could be used as payment.