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100 Pesetas

Issuer Banco de España
Year 1936
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Shape Rectangular
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Obverse description Green on light green and orange underprint, with an elaborate guilloche framework forming the central field. A large rosette vignette to the left carries the inscription CIEN PESETAS on ribbon banners, while the bold numeral 100 in brownish-orange occupies the centre against the fine lathe-work background. The issuer's title EL BANCO DE ESPAÑA arcs across the top, the date BURGOS, 21 DE NOVIEMBRE DE 1936 appears below the denomination, and three facsimile signatures of the Governor, Auditor and Cashier are printed in the lower centre.
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Signature(s) Ramón Artigas Gracia, Antonio García Victoria and Juan Villarroya Masfarner
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Comments

This note was printed by Giesecke & Devrient in Leipzig and issued in the opening weeks of the Civil War — a period in which the Republican government still controlled the Banco de España and its gold reserves. The three signatures reflect the bank's collegial governance structure at the time, an arrangement that would not survive the war intact.

Spain's gold reserve, the fourth largest in the world in 1936, was the financial backdrop against which these notes circulated. Within months, much of that gold had left the country entirely.

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