1000 Pesetas

Printed in Leipzig by Giesecke & Devrient just as Spain was fracturing into civil war, this note was issued by the Republican government but quickly became unusable across Nationalist-held territory. The 1936 currency split was political as much as economic — both sides issued competing paper, and by late 1936 neither zone accepted the other's notes. Republican-issued high denominations like this one were particularly suspect, associated with a government the Nationalists were actively trying to erase.

Three signatories was unusual for Banco de España notes of this period and reflects a transitional institutional moment rather than any deliberate policy change.