5 pesetas 1954
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66 salesAbout This Note
This 1954 Spanish 5 pesetas banknote features an impressive portrait of King Alfonso X 'The Wise' in military dress on the obverse, rendered in green and black on a light lilac underprint. The reverse displays a detailed architectural engraving of Madrid's Palace of Libraries and Museums. The note shows its age with visible foxing, creasing, and edge wear consistent with circulated handling, though the intricate engraving details remain legible and the color palette is still distinctly visible.
Common. This 1954 issue had a substantial print run and regularly appears in the secondary market. eBay sales data shows consistent availability across all condition grades from Poor to UNC, with UNC examples typically trading between $4-16 USD and lower grades between $1-4 USD. The 2016 catalogue valuation of $35 for UNC reflects collector market prices, but high-volume sales at lower prices indicate this is a standard, readily available banknote rather than scarce or rare.
Issued on July 22, 1954, during the Franco era of Spanish history, this note commemorates King Alfonso X of Castile and León (r. 1252-1284), one of medieval Spain's most celebrated monarchs known for his scholarly and legal contributions. The reverse's depiction of the Palace of Libraries and Museums reflects Spain's mid-20th century investment in cultural institutions, while the formal military portraiture underscores the Spanish state's continuity of historical imagery during the post-Civil War period.
The obverse presents King Alfonso X in right-profile, wearing an ornate military uniform with decorative insignia and a crown positioned above his head. The design employs a classical engraved style with an elaborate ornamental border featuring decorative corner medallions displaying the denomination '5'. The reverse showcases a finely detailed engraved architectural illustration of Madrid's Palacio de Bibliotecas y Museos (Palace of Libraries and Museums), a significant Spanish cultural institution, depicted with classical columned facade and multiple stories. A large circular area on the reverse serves as the watermark region. Fine cross-hatching and guilloche patterns provide depth and security throughout both sides, characteristic of early-to-mid 20th century Spanish banknote production.
FRONT SIDE: 'BANCO DE ESPAÑA' (Bank of Spain), 'CINCO PESETAS' (Five Pesetas), 'DE CURSO LEGAL' (Of legal tender), 'MADRID', '22 de Julio de 1954' (July 22, 1954), 'EL GOBERNADOR' (The Governor), 'EL INTERVENTOR' (The Comptroller), 'EL CAJERO' (The Cashier), 'ALFONSO' (Alfonso). BACK SIDE: 'BANCO DE ESPAÑA' (Bank of Spain), 'CINCO PESETAS' (Five Pesetas), 'MADRID: PALACIO DE BIBLIOTECAS Y MUSEOS' (Madrid: Palace of Libraries and Museums), Serial number: 8786046.
Intaglio engraving (copperplate), executed by the Fábrica Nacional de Moneda y Timbre (National Mint and Stamp Factory) in Madrid. The intricate cross-hatching patterns, fine line details, elaborate guilloche borders, and the three-dimensional quality of the portrait and architectural imagery are all hallmarks of traditional intaglio printing. The use of red ink for the serial number indicates multi-pass printing with color separation.
Pick catalog lists two variants: P-146a and P-146s. Based on the serial number format (8786046 in red) and standard Madrid printing, this appears to be the regular Madrid issue (P-146a). The 's' variant may denote specimen notes or a variant with different signature combinations. Further examination of signature blocks and any overprint characteristics would be necessary to definitively determine which variant this specific note represents.
