As Bulgaria phases out the lev at the end of January, the numismatic market is already responding to the change, though not all coins are attracting attention. Georgi Stoyanov, a numismatist from Kazanlak, explained that the lev is beginning its transformation from everyday currency into an exotic collectible for international enthusiasts. The status of a “disappeared currency” has elevated the profile of Bulgarian money abroad, something that had been largely missing until now.

Stoyanov highlighted that this is a common pattern with currencies that are no longer in circulation: once officially withdrawn, interest among collectors rises sharply. “The lev is entering this phase,” he said, predicting growing demand among numismatists worldwide. He drew a historical parallel, noting that during socialism, Bulgarian coins were often exported to Germany, the USA, and Canada, while domestic collectors had limited access. Today, the shift is reversed, with foreign collectors increasingly focusing on Bulgaria’s currency as a completed historical era.

However, Stoyanov cautioned that not all coins will gain value. Ordinary coins, particularly those with massive mintages, are unlikely to attract significant collector interest. He cited the 1 stotinka coin from 2002, with over 1 billion pieces produced, as an example of a coin that will remain largely unremarkable on both domestic and international markets.

Instead, the focus for collectors and potential investors should be on rare and commemorative issues, which are expected to see heightened interest abroad. Many of these coins are struck in high-grade silver or gold, benefiting from rising metal prices. Stoyanov pointed to the 100 leva note from 1894, with only 2,500 printed, and coins from 1916, of which only a few hundred survived, as examples of true rarity.

In the final weeks of the lev’s circulation, Bulgarians continue to spend their old currency, but for collectors, this marks the start of a new chapter. The lev is moving from cash registers to filing cabinets, entering the world of historical and investment interest rather than everyday transactions.