1 peseta 1937
Market Prices
10 salesAbout This Note
This is a 1937 Spanish Republic 1 peseta banknote issued by the Ministerio de Hacienda during the Spanish Civil War period, classified as a Provisional Certificate of Divisional Currency. The note features classical allegorical imagery—Nike of Samothraki on the obverse and Cibeles on the reverse—rendered in fine line engraving with cream and maroon color tones. Despite the UNC grade designation in the catalog, the visual analysis reveals significant aging characteristics including foxing, creasing, yellowing, and surface wear consistent with historical circulation, suggesting the actual condition is considerably lower than typical UNC standards.
Common. This is a regular issue 1 peseta from 1937 with no indicators of restricted print run or short-lived circulation. eBay market data shows consistent sales in the $5–$25 range for various condition grades, with UNC examples selling between $5.65 and $10.50 during 2010–2018. The catalog 2016 values ($25 UNC) align with typical common banknote pricing for this denomination and period. No evidence of scarcity in the numismatic market.
Issued during 1937 in the midst of the Spanish Civil War, this provisional currency certificate represents the Spanish Republic's emergency monetary response to wartime conditions. The classical allegorical imagery—Nike representing victory and Cibeles symbolizing Madrid and national identity—reflects Republican iconography and aspirations during this turbulent period. The designation as a 'Certificado Provisional de Moneda Divisionaria' indicates this was an emergency issue to address fractional currency shortages during the conflict.
The obverse features the Nike of Samothraki, the classical Greek winged victory goddess, depicted as a standing female allegorical figure in flowing robes on the left side of the note. The reverse displays an allegorical representation of Cibeles (or the Cibeles fountain of Madrid), shown as a woman in classical drapery standing on a chariot drawn by two lions—a direct reference to the famous Fuente de Cibeles monument in Madrid's Plaza de Cibeles. Both sides incorporate ornate decorative borders with fine line engraving, heraldic elements including a coat of arms on the obverse, and baroque-style scrollwork and corner ornaments. The color scheme consists primarily of cream and beige backgrounds with maroon, burgundy, golden yellow, and multicolored accents.
Front side: 'REPÚBLICA ESPAÑOLA' (Spanish Republic), 'MINISTERIO DE HACIENDA' (Ministry of Finance), 'CERTIFICADO PROVISIONAL DE MONEDA DIVISIONARIA' (Provisional Certificate of Divisional Currency), 'UNA PESETA' (One Peseta), 'EMISIÓN 1937' (Issue 1937), 'EL DIR. GRAL. DEL TESORO Y DE SEGUROS' (The General Director of Treasury and Insurance), 'EL INTERVENTOR GRAL. DE LA ADMIN. DEL ESTADO' (The General Comptroller of State Administration), 'A 4241039' (Serial number), '1pta.' (1 peseta abbreviation). Back side: No legible inscriptions visible in the visual analysis, with the design dominated by the allegorical chariot scene.
Intaglio/line engraving, produced by Fábrica Nacional de Moneda y Timbre, Madrid. The visual analysis confirms detailed fine line work, careful shading, and the precision characteristic of intaglio printing methods used for high-security banknote production. The ornate decorative patterns and classical portraiture are typical of Spanish Republic-era banknote engraving standards.
The observed serial number is 'A 4241039', indicating the 'A' prefix series. This note represents the standard 1937 emission (EMISIÓN 1937) with no additional overprints or special markings visible. No major varieties have been documented for Pick 94 beyond standard serial number variations. The note represents the common circulation type of this provisional currency certificate issue.
