100 Pesetas replica

The Pick 131 is a genuine Banco de España issue, not a replica — the "replica" designation here almost certainly reflects a later reprint or facsimile produced for commemorative or educational purposes, a practice the Fábrica Nacional de Moneda y Timbre has undertaken for several historical series. The original 1946 issue circulated under the Franco regime during Spain's autarky period, when the country was economically isolated following the Civil War and World War II left Spain commercially frozen out of Western recovery programs.

Worth confirming before cataloging further: whether this example carries any overprint, perforation, or paper difference distinguishing it from a genuine circulated specimen.