1 Peseta replica

The 1943 1 Peseta series was issued under the Franco regime during a period of severe material shortages, when Spain's isolation from Allied supply chains made quality paper stock difficult to obtain. The Fábrica Nacional de Moneda y Timbre managed production domestically throughout, which was unusual for Spanish notes of earlier decades that had frequently relied on foreign printers.

This is a replica, not an original issue. Replicas of the P#116 circulate widely in the collector market and are sometimes misidentified, particularly when the replica notation is faint or placed only on the reverse.