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5 Pesetas

Issuer Banco de España
Year 1937
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Value 5 Pesetas (5 ESP)
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Obverse lettering 5 BANCO DE ESPAÑA CINCO PESETAS DE CURSO LEGAL BURGOS, 18 DE JULIO DE 1937 EL GOBERNADOR. EL INTERVENTOR. EL CAJERO LIT. M. PORTABELLA - ZARAGOZA
(Translation: Bank of Spain Five Pesetas legal tender Burgos, July 18, 1937 The Governor. The Comptroller. The Cashier)
Reverse description Printed entirely in red, the reverse is centered on the coat of arms of the city of Toledo rendered within a circular vignette, flanked by floral and geometric ornamental designs. The series designation appears in red and the serial number in black. A cautionary anti-counterfeiting legend runs along the lower portion of the note.
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Comments

Issued during the Spanish Civil War under Nationalist-held territory, this note was produced in Zaragoza while the city functioned as a key administrative center for Franco's forces. Portabella was a local commercial printer, not a specialized security press — the lithographic production reflects what was available under wartime conditions, and the technical quality shows it.

Republican-zone and Nationalist-zone currencies circulated in parallel but were mutually non-convertible, a division that hardened as the war progressed. Notes from either side became worthless across the front line.

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