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25 Pesetas Banco de España - Bilbao

Issuer Banco de España, Bilbao
Year 1937
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Currency Peseta (1936-1939)
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Obverse description The obverse displays the bank title 'BANCO DE ESPAÑA' in a bold cartouche at upper left, with the denomination numeral '25' set within an elaborate scrollwork and foliate guilloche panel at the left margin. The central and right areas are dominated by a large octagonal intaglio vignette of steelworkers at a blast furnace, with industrial machinery and arched furnace openings rendered in fine cross-hatched engraving. A decorative scrollwork and wave-pattern border frames the full composition, with acanthus-leaf ornaments at the corners.
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Reverse description The reverse presents the issuing bank's name and denomination value in a typographic layout centred on the note, set over a guilloche underprint with a geometric border framing the composition. The design is relatively austere compared to the obverse, relying on the guilloche pattern for visual interest rather than pictorial vignettes.
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Comments

Bilbao fell to Nationalist forces in June 1937, making the window for legitimate circulation of this note extremely narrow. The Banco de España's Bilbao branch operated under the Republican government during the early Basque Country autonomous period, and notes issued there were effectively worthless the moment Franco's troops entered the city — many were destroyed or abandoned outright.

Huecograbado Arte y Editorial Vasca was a local Basque printing firm, pressed into service precisely because the Republican zone had no reliable access to the major Spanish security printers by that stage of the Civil War.

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