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25 Pesetas

Issuer Banco de España
Year 1946
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Shape Rectangular
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Reverse description Black and violet intaglio print with red serial numbers. A panoramic landscape vignette presents the village of Pola de Somiedo in Oviedo (Asturias), framed by a backdrop of Cantabrian mountain scenery. The composition is enclosed by floral and geometric guilloche border ornaments, with the denomination and issuer's name lettered within the design.
Reverse lettering BANCO DE ESPAÑA 25 PESETAS POLA DE SOMIEDO (OVIEDO) 25
(Translation: Bank of Spain 25 Pesetas)
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Spain's postwar austerity period meant the Banco de España was issuing denominations that had been largely theoretical during the Civil War years — the 25 peseta note returned to circulation as the Franco regime worked to stabilize a currency badly damaged by wartime monetary chaos and the parallel Republican issues that had complicated the money supply through the early 1940s.

The López Sánchez-Toda brothers — José Luis on the obverse plates, Alfonso on the reverse — were staff engravers at the FNMT, and their dual credit on a single note is unusual enough to be worth noting. Watermark-only security was thin for the period, but Spain's relative isolation under autarky made sophisticated counterfeiting logistically difficult.