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500 Pesetas replica

Issuer Banco de España
Year 1935
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Value 500 Pesetas 500 ESP = USD 3.54
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Obverse description Left vignette bears an intaglio portrait of Hernán Cortés; at lower right, a vignette of the Palacio de Cortés in Cuernavaca, Mexico. The face is framed by fine guilloche underprint with issuer legends and dated Madrid, 7 January 1935, with spaces for three manuscript signatures below.
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Reverse lettering BANCO DE ESPAÑA
500

Real Casa de la Moneda
Fábrica Nacional
de Moneda y Timbre
(Translation: BANK OF SPAIN
500
(On the right)
Real Casa de la Moneda
Fábrica Nacional
de Moneda y Timbre)
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Comments

The 1935 500 Pesetas is one of the more politically loaded notes in Spanish numismatic history — issued under the Second Republic and printed before the July 1936 coup, it circulated simultaneously on both sides of the Civil War as Franco's Nationalist forces initially lacked the infrastructure to produce their own currency. The Republic continued issuing from Madrid while Nationalist-controlled territories accepted the same notes, creating the absurd early situation where enemies shared a common paper currency.

This is a replica. Collector interest in the original remains high precisely because genuine circulated examples absorbed that conflict directly.

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