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50 Pesetas

Issuer Banco de España
Year 1951
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Value 50 Pesetas (50 ESP)
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Reverse lettering 50 BANCO DE ESPAÑA JARDINES DE ARANJUEZ (RUSIÑOL)
(Translation: Bank of Spain Gardens of Aranjuez (Rusiñol))
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Protection type Watermark
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Comments

The 1951 series was issued under the Franco regime during a period of severe economic autarky, when Spain remained largely cut off from postwar European recovery. The Banco de España's reliance on the Fábrica Nacional de Moneda y Timbre for all domestic currency production was itself a political choice — keeping the entire printing chain inside Spanish borders was consistent with the regime's self-sufficiency doctrine, regardless of whether foreign printers might have delivered superior technical results.

López Sánchez-Toda was among the more accomplished engravers working at FNMT in this period. The watermark remains the primary security feature — modest by contemporary European standards.