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500 Pesetas replica

Issuer Banco de España
Year 1954
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Value 500 Pesetas 500 ESP = TRY 160
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Obverse lettering EL BANCO DE ESPAÑA
PAGARÁ
AL PORTADOR
QUINIENTAS
PESETAS
MADRID, 22 de Julio de 1954
EL GOBERNADOR
EL INTERVENTOR
EL CAJERO
REPRODUCCIÓN AUTORIZADA
(Translation: THE BANK OF SPAIN
WILL PAY
THE CARRIER
FIVE HUNDRED
PESETAS
MADRID, July 22, 1954
THE GOVERNOR (signature)
THE AUDITOR (signature)
THE CASHIER (signature)
AUTHORIZED REPRODUCTION)
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Reverse lettering 500
PESETAS
BANCO DE ESPAÑA
REPRODUCCIÓN AUTORIZADA
(Translation: 500
PESETAS
BANK OF SPAIN
AUTHORIZED REPRODUCTION)
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Comments

Pick 148 is the 500 Pesetas issue of 22 July 1954, a FNMT-printed note from a period when the Franco regime was still operating a largely autarkic economy — two years before the Stabilization Plan of 1959 began dismantling it. The "replica" designation here is significant: Spanish law prohibits the sale of genuine Banco de España notes withdrawn from circulation without specific authorization, so period-accurate facsimiles were produced for collector and educational markets, typically overprinted or punched to comply with reproduction regulations.

Genuine examples of P148 are not rare, but distinguishing an authorized replica from an unaltered specimen matters for any serious collection.

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