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25 Pesetas

Issuer Banco de España
Year 1931
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Currency Peseta (1868-2001)
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Obverse description Green and grey intaglio print over an ocher, brown and violet guilloche underprint, with black serial number. A front-facing portrait vignette of the Spanish painter Vicente López Portaña occupies the central field. Geometric border designs frame the composition, with the issuing authority's legends and date inscriptions surrounding the central vignette.
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Reverse description Black intaglio print over a green and yellow guilloche underprint, with red serial number. A vignette reproducing Vicente López's allegorical work 'Music' is positioned to the left of the design. The denomination and bank name are rendered in stylised lettering within a structured decorative framework.
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Comments

This note was issued under the newly proclaimed Second Spanish Republic, which came into existence in April 1931 — meaning notes from this series entered circulation almost simultaneously with the collapse of the Bourbon monarchy. The Republic initially retained the Banco de España as its central bank rather than establishing a new institution, and earlier contracts with Bradbury, Wilkinson remained in force, which is why a British security printer produced currency for a government that had just overturned the existing political order.

Bradbury, Wilkinson had a long relationship with Spanish note production stretching back decades. The watermark security on this issue is modest by contemporary standards, reflecting a prewar contract rather than any updated specification from the new Republican authorities.

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