25 pesetas 1936
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This is a 25 pesetas banknote issued by Banco de España on November 21, 1936, during the Spanish Civil War period. The note displays the characteristic dark blue and cream color scheme with ornate geometric borders and decorative scrollwork typical of early 20th-century Spanish currency. Despite showing significant wear including purple stamps, foxing, creases, and discoloration consistent with nearly 90 years of circulation, the VF-graded note retains clear engraved details and remains a historically significant example from a politically turbulent period in Spanish history.
Common. This note appears regularly in the market with consistent eBay sales averaging $10-$18 in VF condition from 2014-2017, and catalog values listed at $90 for VF grade (2016 reference). The recent PMG 65 sale at $84 and consistent supply in the secondary market confirm this is a regularly available issue. The 1936 Burgos series appears to have had a substantial print run for the denomination and period.
This banknote was issued from Burgos on November 21, 1936, just months after the outbreak of the Spanish Civil War in July 1936. Burgos served as the capital of Nationalist-controlled Spain during the conflict, making this note a tangible artifact of the Francoist faction's financial administration. The classical male portrait on the reverse and the formal 'Pagará al Portador' (pay to bearer) inscription reflect the traditional banking conventions being maintained even as Spain descended into civil conflict.
The obverse features the standard layout of Spanish pesetas notes from this era, with prominent denomination numerals '25' in all four corners rendered in ornate script. The center displays the issuer name and the crucial legal text 'Pagará al Portador,' along with the Burgos date and three signature lines for authorized officials (Governor, Intervenor, and Cashier). The reverse is dominated by a classical male profile portrait facing left, presented within a circular medallion surrounded by decorative wreath or laurel elements and an ornate geometric frame. The entire design employs fine line engraving with consistent geometric border patterns throughout both sides. The color scheme combines dark blue with cream and tan underprints, typical of Spanish banknote design of the 1930s.
FRONT: 'EL BANCO DE ESPAÑA' (The Bank of Spain); 'PAGARÁ AL PORTADOR' (Will pay to the bearer); 'VEINTICINCO PESETAS' (Twenty-five pesetas); 'BURGOS, 21 DE NOVIEMBRE, DE 1936' (Burgos, November 21, 1936); 'P. EL GOBERNADOR' (By the Governor); 'P. EL INTERVENTOR' (By the Intervenor); 'P. EL CAJERO' (By the Cashier); Serial numbers 'R 6928059' and 'R p 6928059'. BACK: 'BANCO DE ESPAÑA' (Bank of Spain); 'VEINTICINCO PESETAS' (Twenty-five pesetas); Denomination numerals '25' and text 'PESETAS'.
Intaglio (engraved) printing, characteristic of high-security banknote production. The visual analysis confirms fine line engraving throughout with intricate geometric patterns, circular medallion framing, and detailed portrait work. The note was printed by Giesecke+Devrient (G&D), a leading international security printer, as confirmed by the catalog data indicating production without visible imprint.
This note is cataloged as P-99a (Burgos variety) by Pick standards. The visual analysis confirms the Burgos location and November 21, 1936 date. Serial number 'R 6928059' visible on this specimen. PMG population data indicates this is the primary known variant for this Pick number. The note shows characteristics of regular-issue currency rather than a emergency or commemorative issue.
