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5 Pesetas

Issuer Banco de España
Year 1938
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Size 112 × 60 mm
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Obverse lettering 5 PESETAS. CINCO PESETAS BANCO DE ESPAÑA CINCO PESETAS DE CURSO LEGAL BURGOS, 10 DE AGOSTO DE 1938 EL GOBERNADOR. EL INTERVENTOR. EL CAJERO
(Translation: 5 Pesetas. Five Pesetas Bank of Spain Five Pesetas legal tender Burgos, August 10, 1938 The Governor. The Comptroller. The Cashier)
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Reverse lettering BANCO DE ESPAÑA PESETAS 5 PESETAS CINCO PESETAS
(Translation: Bank of Spain Pesetas 5 Pesetas Five Pesetas)
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Comments

Giesecke & Devrient produced this note for the Nationalist-controlled Banco de España during the Civil War, when Franco's administration was working to establish financial credibility for its provisional government. The Republican zone had its own parallel currency apparatus, so both sides were issuing competing pesetas simultaneously — a situation that created lasting confusion during the post-war consolidation.

Leipzig was an unusual production site for a Spanish wartime note, but G&D had the capacity and the Nationalists had the foreign connections. The series was introduced before the war concluded, anticipating the monetary unification that would follow a Nationalist victory.

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