100 Pesetas replica

P#99 is a Republican-era note issued in the turbulent opening months of the Civil War, when the Madrid government still controlled the Fábrica Nacional de Moneda y Timbre and used it to maintain the appearance of legitimate monetary continuity against the Nationalist insurgency. The term "replica" in the catalog designation typically flags a later facsimile reproduction rather than an original circulation piece — prospective buyers should verify whether this example is an original 1936 issue or a commemorative reproduction before assigning value.