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50 Pesetas Banco de España - Bilbao

Issuer Banco de España, Bilbao
Year 1937
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Printer Huecograbado Arte y Editorial Vasca S.A., Bilbao, Spain
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Obverse description The obverse is framed by a geometric guilloche border with repeated lettering 'BANCO DE ESPAÑA' forming the underprint across the entire field. At centre, the Spanish royal coat of arms appears within a circular vignette, surrounded by further decorative geometric patterning. Denomination numerals and the full text of the payment promise appear in letterpress above and below the central device.
Obverse lettering 50 EL BANCO DE ESPAÑA / BILBAO El Banco de España Pagará al portador CINCUENTA pesetas BILBAO 1 de Enero de 1937
(Translation: The Bank of Spain / Bilbao The Bank of Spain Will pay the bearer Fifty Pesetas Bilbao January 1, 1937)
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Comments

Bilbao's Republican currency during the Spanish Civil War had a short window of relevance. The city fell to Nationalist forces in June 1937, and the notes issued by the Basque regional government's banking apparatus — operating under the Banco de España name but functionally autonomous — became worthless almost immediately. This series was printed locally by Arte y Editorial Vasca, an arrangement born of necessity rather than preference, as access to Spain's conventional printing infrastructure had been severed by the war.

The brevity of circulation means heavily used examples are actually harder to explain than uncirculated ones.

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