500 Pesetas replica

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.