Spanish peseta
Encyclopedia
The peseta was the currency
of Spain
between 1869 and 2002. Along with the French franc
, it was also a de facto currency used in Andorra
(which had no national currency with legal tender).
, a former monetary unit.
s: "Ptas".
Common earlier Spanish models of mechanical typewriter
s had the expression "Pts" on a single type head (₧), as a shorthand intended to fill a single type space (
Later, Spanish models of IBM electric typewriter
s also included the same type in its repertoire.
When the first IBM PC
was designed circa 1980, it included a "peseta symbol" ₧ in the ROM
of the Monochrome Display Adapter
(MDA) and Color Graphics Adapter
(CGA
) video output cards' hardware, with the code number 158. This original character set chart later became the MS-DOS
code page 437
.
Some spreadsheet
software for PC under MS-DOS
, as Lotus 1-2-3
, employed this character as the peseta symbol in their Spanish editions.
Subsequent international MS-DOS
code page
s, like code page 850
and others, deprecated this character in favour of some other national characters, so the "peseta symbol" life was brief.
In order to guarantee the interchange with previous encodings (namely, the code page 437 in this case), the international standard Unicode
includes this character as U+20A7 PESETA SIGN in its Currency Symbols block. Other than that, the use of the "peseta symbol" standalone is extremely rare, and has been outdated since the adoption of the euro
in Spain.
.
The last 25 centimo coin (or real) was minted by the Second Spanish Republic
in 1938. The 1 centimo coin was last minted in 1913 and featured King Alfonso XIII . The half-centimo was last minted in 1868 and featured Queen Isabel II
.
in 1868. The Spanish Law of June 26, 1864 decreed that in preparation for joining the Latin Monetary Union (set up in 1865), the peseta became a subdivision of the peso
with 1 peso duro = 5 pesetas. The peseta replaced the escudo
at a rate of 5 pesetas = 1 peso duro = 2 escudos.
The peseta was equal to 4.5 gram
s of silver
, or 0.290322 grams of gold
, the standard used by all the currencies of the Latin Monetary Union. From 1873, only the gold standard
applied.
The political turbulence of the early twentieth century (especially during the years after the World War I
) caused the monetary union to break up, although it was not until 1927 that it officially ended.
In 1959, Spain became part of the Bretton Woods System
, pegging the peseta at a value of 60 pesetas = 1 U.S. dollar. In 1967, the peseta followed the devaluation of the British pound, maintaining the exchange rate of 168 pesetas = 1 pound and establishing a new rate of 70 pesetas = 1 U.S. dollar.
The peseta was replaced by the euro
in 2002, following the establishment of the euro in 1999. The exchange rate was 1 euro = 166.386 pesetas.
Coin production resumed in 1925 with the introduction of cupro-nickel 25 céntimos. In 1926, a final issue of silver 50 céntimos was made, followed by the introduction of a holed version of the 25 céntimos in 1927.
In 1934, the Second Spanish Republic
issued coins for 25 and 50 céntimos and 1 peseta. The 25 céntimos and silver 1 peseta were the same size and composition as the earlier Royal issues, whilst the 50 céntimos was struck in copper. In 1937, an iron 5 céntimos coins was introduced along with a brass 1 peseta. The last Republican issue was a holed, copper 25 céntimos in 1938.
During the Civil War
, a number of local coinages were issued by both Republican and Nationalist forces. In 1936, the following pieces were issued by the Nationalists:
The following issues were made by Republican forces in 1937:
The Nationalists issued their first national coins in 1937. These were holed, cupro-nickel 25 céntimos minted in Vienna
. Following the end of the Civil War
, the Nationalist government introduced aluminium 5 and 10 céntimos in 1940, followed by aluminium-bronze 1 peseta coins in 1944.
In 1947, the first 1 peseta coins bearing the portrait of Francisco Franco
were issued. Nickel 5 pesetas followed in 1949. In 1949, holed cupro-nickel 50 céntimos were introduced, followed by aluminium-bronze 2½ pesetas in 1954, cupro-nickel 25 & 50 pesetas in 1958 & smaller aluminium 10 céntimos in 1959. Silver 100 pesetas were issued between 1966 & 1969, with aluminium 50 céntimos introduced in 1967.
Following the accession of King Juan Carlos, the only change to the coinage was the introduction of cupronickel 100 pesetas in 1976. However, more significant changes occurred in 1982. The 50 céntimos was discontinued, with aluminium 1 & 2 pesetas as well as aluminium-bronze 100 pesetas introduced. Cupronickel 10 pesetas were introduced in 1983. Cupronickel 200 pesetas were introduced in 1986, followed by aluminium-bronze 500 pesetas in 1987. In 1989, the size of the 1 peseta coin was significantly reduced (making it the smallest, lightest coin in Europe and perhaps the world) and aluminium-bronze 5 pesetas were introduced. Aluminium-bronze 25 pesetas & smaller 50 pesetas were introduced in 1990, along with larger 200 pesetas.
Until 19 June 2001, the following coin
s were minted by the Spanish Fábrica Nacional de Moneda y Timbre:
The 50 pesetas coins issued between 1990 and 2000 were the first that featured the Spanish flower
shape.
The dates of some Spanish coins can be found on small 6-point stars on either the obverse or reverse. The larger date that appears outside the stars is the design date.
introduced notes for 25, 50, 100, 500 and 1000 pesetas. Except for the 250 pesetas notes only issued in 1878, the denominations produced by the Banco de España did not change until the Civil War, when both the Republicans and Nationalists issued Banco de España notes.
In 1936, the Republicans issued 5 and 10 pesetas notes. The Ministry of Finance (Ministerio de Hacienda) introduced notes for 50 céntimos, 1 and 2 pesetas in 1938, as well as issuing stamp money (consisting of postage
or revenue stamp
s affixed to cardboard disks) in denominations of 5, 10, 15, 20, 25, 30, 40, 45, 50 and 60 céntimos.
The first Nationalist Banco de España issues were made in 1936, in denominations of 5, 10, 25, 50, 100, 500 and 1000 pesetas. 1 and 2 pesetas notes were added in 1937. From the mid 1940s, denominations issued were 1, 5, 25, 50, 100, 500 and 1000 pesetas. The 1, 5, 25 and 50 pesetas were all replaced by coins by the late 1950s.
In 1978, 5000 pesetas notes were introduced. The 100 pesetas note was replaced by a coin in 1982, with 2000 pesetas notes introduced in 1983, 200 pesetas in 1984 and 10,000 pesetas in 1987. The 200 and 500 pesetas notes were replaced by coins in 1986 and 1987.
The penultimate series of banknotes was introduced between 1982 and 1987 and remained legal tender until the introduction of the euro.
The last banknote
s series (1992) was:
pesseta, was a 1:1 peg to the Spanish peseta. As Andorra
used coins and banknotes from Spain, there was no separate Andorran peseta, and they were convertible into normal pesetas.
(€) in 1999 on currency exchange boards. Euro coins
and notes
were introduced in January 2002, and on March 1, 2002, the peseta lost its legal tender status in Spain, and also in Andorra. The exchange rate was 1 euro
= 166.386 ESP. Prices in many Andorran supermarkets and other retail establishments are still shown dual-priced in euros and pesetas or in euros and French francs.
Peseta notes and coins that were legal tender
on December 31, 2001, remain exchangeable indefinitely at any branch of the central bank
. According to this entity, approximately millions of pesetas (with a value estimated in 1.7 billion euros) were never converted to euro.
Huge amounts of pesetas of dubious provenance are believed to have helped to fuel a cash based money laundering real estate boom just prior to, and after, the conversion to the euro. Mafia and criminal holdings of pesetas in the billions were poured into massive real estate projects in Spain and elsewhere, the real estate could then be legally sold into euros.
In 2011, more than 60 shops belonging to the small Galician fishing town of Mugardos
reintroduced the peseta (accepting it alongside the euro), as a result of the economic crisis the country has been living for the past few years.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
between 1869 and 2002. Along with the French franc
French franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money...
, it was also a de facto currency used in Andorra
Andorra
Andorra , officially the Principality of Andorra , also called the Principality of the Valleys of Andorra, , is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe having an area of...
(which had no national currency with legal tender).
Etymology
According to the definition of the Dictionary of the Spanish Language by the Royal Spanish Academy the name of the currency is the diminutive form of the word pesoPeso
The word peso was the name of a coin that originated in Spain and became of immense importance internationally...
, a former monetary unit.
Symbol
Traditionally, there was never a single symbol nor special character for the Spanish peseta. Common abbreviations were "Pt", "Pta", "Pts" and "Ptas", and even using superior letterSuperior letter
In typography and handwriting, a superior letter is a lower-case letter placed above the baseline and made smaller than ordinary script. The style is distinct from superscript. Formerly quite common in abbreviations, the original purpose was to make handwritten abbreviations clearly distinct from...
s: "Ptas".
Common earlier Spanish models of mechanical typewriter
Typewriter
A typewriter is a mechanical or electromechanical device with keys that, when pressed, cause characters to be printed on a medium, usually paper. Typically one character is printed per keypress, and the machine prints the characters by making ink impressions of type elements similar to the pieces...
s had the expression "Pts" on a single type head (₧), as a shorthand intended to fill a single type space (
₧) in tables instead of three (Pts).Later, Spanish models of IBM electric typewriter
IBM Electric typewriter
The IBM Electric typewriters were a series of electric typewriters that IBM manufactured, starting in the mid-1930s. They used the conventional moving carriage and typebar mechanism, as opposed to the fixed carriage and type ball used in the IBM Selectric, introduced in 1961...
s also included the same type in its repertoire.
When the first IBM PC
IBM PC
The IBM Personal Computer, commonly known as the IBM PC, is the original version and progenitor of the IBM PC compatible hardware platform. It is IBM model number 5150, and was introduced on August 12, 1981...
was designed circa 1980, it included a "peseta symbol" ₧ in the ROM
Read-only memory
Read-only memory is a class of storage medium used in computers and other electronic devices. Data stored in ROM cannot be modified, or can be modified only slowly or with difficulty, so it is mainly used to distribute firmware .In its strictest sense, ROM refers only...
of the Monochrome Display Adapter
Monochrome Display Adapter
The Monochrome Display Adapter introduced in 1981 was IBM's standard video display card and computer display standard for the PC. The MDA did not have any pixel-addressable graphics modes...
(MDA) and Color Graphics Adapter
Color Graphics Adapter
The Color Graphics Adapter , originally also called the Color/Graphics Adapter or IBM Color/Graphics Monitor Adapter, introduced in 1981, was IBM's first color graphics card, and the first color computer display standard for the IBM PC....
(CGA
Color Graphics Adapter
The Color Graphics Adapter , originally also called the Color/Graphics Adapter or IBM Color/Graphics Monitor Adapter, introduced in 1981, was IBM's first color graphics card, and the first color computer display standard for the IBM PC....
) video output cards' hardware, with the code number 158. This original character set chart later became the MS-DOS
MS-DOS
MS-DOS is an operating system for x86-based personal computers. It was the most commonly used member of the DOS family of operating systems, and was the main operating system for IBM PC compatible personal computers during the 1980s to the mid 1990s, until it was gradually superseded by operating...
code page 437
Code page 437
IBM PC or MS-DOS code page 437 is the character set of the original IBM PC. It is also known as CP 437, OEM 437, PC-8, MS-DOS Latin US or sometimes misleadingly referred to as the OEM font, High ASCII or Extended ASCII....
.
Some spreadsheet
Spreadsheet
A spreadsheet is a computer application that simulates a paper accounting worksheet. It displays multiple cells usually in a two-dimensional matrix or grid consisting of rows and columns. Each cell contains alphanumeric text, numeric values or formulas...
software for PC under MS-DOS
MS-DOS
MS-DOS is an operating system for x86-based personal computers. It was the most commonly used member of the DOS family of operating systems, and was the main operating system for IBM PC compatible personal computers during the 1980s to the mid 1990s, until it was gradually superseded by operating...
, as Lotus 1-2-3
Lotus 1-2-3
Lotus 1-2-3 is a spreadsheet program from Lotus Software . It was the IBM PC's first "killer application"; its huge popularity in the mid-1980s contributed significantly to the success of the IBM PC in the corporate environment.-Beginnings:...
, employed this character as the peseta symbol in their Spanish editions.
Subsequent international MS-DOS
MS-DOS
MS-DOS is an operating system for x86-based personal computers. It was the most commonly used member of the DOS family of operating systems, and was the main operating system for IBM PC compatible personal computers during the 1980s to the mid 1990s, until it was gradually superseded by operating...
code page
Code page
Code page is another term for character encoding. It consists of a table of values that describes the character set for a particular language. The term code page originated from IBM's EBCDIC-based mainframe systems, but many vendors use this term including Microsoft, SAP, and Oracle Corporation...
s, like code page 850
Code page 850
Code page 850 is a code page used under MS-DOS in Western Europe. It is the code page commonly used by the version of MS-DOS underlying Windows ME...
and others, deprecated this character in favour of some other national characters, so the "peseta symbol" life was brief.
In order to guarantee the interchange with previous encodings (namely, the code page 437 in this case), the international standard Unicode
Unicode
Unicode is a computing industry standard for the consistent encoding, representation and handling of text expressed in most of the world's writing systems...
includes this character as U+20A7 PESETA SIGN in its Currency Symbols block. Other than that, the use of the "peseta symbol" standalone is extremely rare, and has been outdated since the adoption of the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
in Spain.
Subdivision
The peseta was subdivided into 100 céntimos or, informally, 4 reales. The last coin of any value under one peseta was a 50 centimo coin in 1980, made to celebrate that Spain would host the 1982 FIFA World Cup1982 FIFA World Cup
The 1982 FIFA World Cup, the 12th FIFA World Cup, was held in Spain from 13 June to 11 July. The tournament was won by Italy, after defeating West Germany 3–1 in the final.-Host selection:...
.
The last 25 centimo coin (or real) was minted by the Second Spanish Republic
Second Spanish Republic
The Second Spanish Republic was the government of Spain between April 14 1931, and its destruction by a military rebellion, led by General Francisco Franco....
in 1938. The 1 centimo coin was last minted in 1913 and featured King Alfonso XIII . The half-centimo was last minted in 1868 and featured Queen Isabel II
Isabel II
Isabel II can refer to:*Queen Isabella II of Spain*Isabel II, a Spanish cruiser that fought in the Spanish-American War.*Queen Elizabeth II of the United Kingdom...
.
History
The peseta was introduced in 1869 after Spain joined the Latin Monetary UnionLatin Monetary Union
The Latin Monetary Union was a 19th century attempt to unify several European currencies, at a time when most circulating coins were still made of gold and silver...
in 1868. The Spanish Law of June 26, 1864 decreed that in preparation for joining the Latin Monetary Union (set up in 1865), the peseta became a subdivision of the peso
Peso
The word peso was the name of a coin that originated in Spain and became of immense importance internationally...
with 1 peso duro = 5 pesetas. The peseta replaced the escudo
Spanish escudo
-Gold escudo:The first escudo was a gold coin introduced in 1535/1537, with coins denominated in escudos issued until 1833. It was initially worth 16 reales...
at a rate of 5 pesetas = 1 peso duro = 2 escudos.
The peseta was equal to 4.5 gram
Gram
The gram is a metric system unit of mass....
s of silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
, or 0.290322 grams of gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
, the standard used by all the currencies of the Latin Monetary Union. From 1873, only the gold standard
Gold standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...
applied.
The political turbulence of the early twentieth century (especially during the years after the World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
) caused the monetary union to break up, although it was not until 1927 that it officially ended.
In 1959, Spain became part of the Bretton Woods System
Bretton Woods system
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century...
, pegging the peseta at a value of 60 pesetas = 1 U.S. dollar. In 1967, the peseta followed the devaluation of the British pound, maintaining the exchange rate of 168 pesetas = 1 pound and establishing a new rate of 70 pesetas = 1 U.S. dollar.
The peseta was replaced by the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
in 2002, following the establishment of the euro in 1999. The exchange rate was 1 euro = 166.386 pesetas.
Coins
In 1869 and 1870, coins were introduced in denominations of 1, 2, 5, 10 & 50 céntimos, 1, 2 and 5 pesetas. The lowest 4 denominations were struck in copper (replaced by bronze from 1877), with the 50 céntimos, 1 & 2 pesetas struck in .835 silver & the 5 pesetas struck in .900 silver. Gold 25 pesetas coins were introduced in 1876, followed by 20 pesetas in 1878. In 1889, 20 pesetas coins were introduced, with production of the 25 pesetas ceasing. In 1897, a single issue of gold 100 pesetas was made. Production of gold coins ceased in 1904, followed by that of silver coins in 1910. The last bronze coins were issued in 1912.Coin production resumed in 1925 with the introduction of cupro-nickel 25 céntimos. In 1926, a final issue of silver 50 céntimos was made, followed by the introduction of a holed version of the 25 céntimos in 1927.
In 1934, the Second Spanish Republic
Second Spanish Republic
The Second Spanish Republic was the government of Spain between April 14 1931, and its destruction by a military rebellion, led by General Francisco Franco....
issued coins for 25 and 50 céntimos and 1 peseta. The 25 céntimos and silver 1 peseta were the same size and composition as the earlier Royal issues, whilst the 50 céntimos was struck in copper. In 1937, an iron 5 céntimos coins was introduced along with a brass 1 peseta. The last Republican issue was a holed, copper 25 céntimos in 1938.
During the Civil War
Spanish Civil War
The Spanish Civil WarAlso known as The Crusade among Nationalists, the Fourth Carlist War among Carlists, and The Rebellion or Uprising among Republicans. was a major conflict fought in Spain from 17 July 1936 to 1 April 1939...
, a number of local coinages were issued by both Republican and Nationalist forces. In 1936, the following pieces were issued by the Nationalists:
| District | Denominations |
| Cazalla de Sierra | 10 céntimos |
| Arahal Arahal Arahal is a municipality in Seville, Spain. It is situated 117 meters above sea level and is southwest of Seville. It had a population of 19,150 in 2008.-History:The city was founded before the Roman Empire, and during Roman rule it had the name of Calúcula... |
50 céntimos, 1 & 2 pesetas |
| Lora del Rio Lora del Río Lora del Río is a city located in the province of Seville, Spain. According to the 2006 census by INE, it has a population of 19,077 inhabitants.-Geography:... |
25 céntimos |
| Marchena | 25 céntimos |
| La Puebla de Cazalla | 10 & 25 céntimos |
The following issues were made by Republican forces in 1937:
| District | Denominations |
| Arenys de Mar Arenys de Mar Arenys de Mar , and de mar for by the sea as opposed to Arenys de Munt town inland) is one of the main municipalities of the comarca of Maresme, Barcelona Province, Catalonia, Spain. It is situated on the coast between Sant Vicenç de Montalt and Canet de Mar... |
50 céntimos, 1 peseta |
| Asturias Asturias The Principality of Asturias is an autonomous community of the Kingdom of Spain, coextensive with the former Kingdom of Asturias in the Middle Ages... and Leon León (province) León is a province of northwestern Spain, in the northwestern part of the autonomous community of Castile and León.About one quarter of its population of 500,200 lives in the capital, León. The weather is cold and dry during the winter.... |
50 céntimos, 1 & 2 pesetas |
| Euskadi Basque Country (autonomous community) The Basque Country is an autonomous community of northern Spain. It includes the Basque provinces of Álava, Biscay and Gipuzkoa, also called Historical Territories.... |
1 & 2 pesetas |
| Ibi | 25 céntimos, 1 peseta |
| L'Ametlla del Vallès | 25 & 50 céntimos, 1 peseta |
| Menorca | 5, 10 & 25 céntimos, 1 & 2½ pesetas |
| Nulles | 5, 10, 25 & 50 céntimos, 1 peseta |
| Olot Olot Olot is the capital of the comarca of the Garrotxa, in the province of Girona, Catalonia, Spain.- Etymology :The etymology of Olot is not clear and there are several hypotheses... |
10 céntimos |
| Santander Cantabria Cantabria is a Spanish historical region and autonomous community with Santander as its capital city. It is bordered on the east by the Basque Autonomous Community , on the south by Castile and León , on the west by the Principality of Asturias, and on the north by the Cantabrian Sea.Cantabria... , Palencia Palencia Palencia is a city south of Tierra de Campos, in north-northwest Spain, the capital of the province of Palencia in the autonomous community of Castile-Leon... and Burgos Burgos Burgos is a city of northern Spain, historic capital of Castile. It is situated at the edge of the central plateau, with about 178,966 inhabitants in the city proper and another 20,000 in its suburbs. It is the capital of the province of Burgos, in the autonomous community of Castile and León... |
50 céntimos, 1 peseta |
| Segarra de Gaià | 1 peseta |
The Nationalists issued their first national coins in 1937. These were holed, cupro-nickel 25 céntimos minted in Vienna
Vienna
Vienna is the capital and largest city of the Republic of Austria and one of the nine states of Austria. Vienna is Austria's primary city, with a population of about 1.723 million , and is by far the largest city in Austria, as well as its cultural, economic, and political centre...
. Following the end of the Civil War
Spanish Civil War
The Spanish Civil WarAlso known as The Crusade among Nationalists, the Fourth Carlist War among Carlists, and The Rebellion or Uprising among Republicans. was a major conflict fought in Spain from 17 July 1936 to 1 April 1939...
, the Nationalist government introduced aluminium 5 and 10 céntimos in 1940, followed by aluminium-bronze 1 peseta coins in 1944.
In 1947, the first 1 peseta coins bearing the portrait of Francisco Franco
Francisco Franco
Francisco Franco y Bahamonde was a Spanish general, dictator and head of state of Spain from October 1936 , and de facto regent of the nominally restored Kingdom of Spain from 1947 until his death in November, 1975...
were issued. Nickel 5 pesetas followed in 1949. In 1949, holed cupro-nickel 50 céntimos were introduced, followed by aluminium-bronze 2½ pesetas in 1954, cupro-nickel 25 & 50 pesetas in 1958 & smaller aluminium 10 céntimos in 1959. Silver 100 pesetas were issued between 1966 & 1969, with aluminium 50 céntimos introduced in 1967.
Following the accession of King Juan Carlos, the only change to the coinage was the introduction of cupronickel 100 pesetas in 1976. However, more significant changes occurred in 1982. The 50 céntimos was discontinued, with aluminium 1 & 2 pesetas as well as aluminium-bronze 100 pesetas introduced. Cupronickel 10 pesetas were introduced in 1983. Cupronickel 200 pesetas were introduced in 1986, followed by aluminium-bronze 500 pesetas in 1987. In 1989, the size of the 1 peseta coin was significantly reduced (making it the smallest, lightest coin in Europe and perhaps the world) and aluminium-bronze 5 pesetas were introduced. Aluminium-bronze 25 pesetas & smaller 50 pesetas were introduced in 1990, along with larger 200 pesetas.
Until 19 June 2001, the following coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s were minted by the Spanish Fábrica Nacional de Moneda y Timbre:
| Value | € equiv. | Diameter | Weight | Composition |
|---|---|---|---|---|
| 1 ₧ | 0.006 (0.01) | 14 mm | 0.55 g | Aluminium Aluminium Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances.... |
| 5 ₧ | 0.03 | 17.5 mm | 3 g | Aluminium bronze Aluminium bronze Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper, in contrast to standard bronze or brass... |
| 10 ₧ | 0.06 | 18.5 mm | 3 g | Cupronickel Cupronickel Cupronickel or copper-nickel or "cupernickel" is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. Cupronickel is highly resistant to corrosion in seawater, because its electrode potential is adjusted to be neutral with regard to seawater... |
| 25 ₧ | 0.15 | 19.5 mm | 4.25 g | Aluminium bronze Aluminium bronze Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper, in contrast to standard bronze or brass... |
| 50 ₧ | 0.30 | 20.5 mm | 5.60 g | Cupronickel Cupronickel Cupronickel or copper-nickel or "cupernickel" is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. Cupronickel is highly resistant to corrosion in seawater, because its electrode potential is adjusted to be neutral with regard to seawater... |
| 100 ₧ | 0.60 | 24.5 mm | 9.25 g | Aluminium bronze Aluminium bronze Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper, in contrast to standard bronze or brass... |
| 200 ₧ | 1.20 | 25.5 mm | 10.5 g | Cupronickel Cupronickel Cupronickel or copper-nickel or "cupernickel" is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. Cupronickel is highly resistant to corrosion in seawater, because its electrode potential is adjusted to be neutral with regard to seawater... |
| 500 ₧ | 3.01 | 28 mm | 12 gr | Aluminium bronze Aluminium bronze Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper, in contrast to standard bronze or brass... |
The 50 pesetas coins issued between 1990 and 2000 were the first that featured the Spanish flower
Spanish flower
The Spanish flower is a type of coin edging. It consists of a smooth edge separated into equal sections by seven indents.-Origin:The 50 Spanish peseta coin issued between 1990 and 2000 were the first that featured the Spanish flower....
shape.
| Spanish flower | |
|---|---|
 |
 |
The dates of some Spanish coins can be found on small 6-point stars on either the obverse or reverse. The larger date that appears outside the stars is the design date.
Banknotes
In 1874, the Banco de EspañaBanco de España
The Bank of Spain , is the national central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks.-History:...
introduced notes for 25, 50, 100, 500 and 1000 pesetas. Except for the 250 pesetas notes only issued in 1878, the denominations produced by the Banco de España did not change until the Civil War, when both the Republicans and Nationalists issued Banco de España notes.
In 1936, the Republicans issued 5 and 10 pesetas notes. The Ministry of Finance (Ministerio de Hacienda) introduced notes for 50 céntimos, 1 and 2 pesetas in 1938, as well as issuing stamp money (consisting of postage
Postage stamp
A postage stamp is a small piece of paper that is purchased and displayed on an item of mail as evidence of payment of postage. Typically, stamps are made from special paper, with a national designation and denomination on the face, and a gum adhesive on the reverse side...
or revenue stamp
Revenue stamp
A revenue stamp, tax stamp or fiscal stamp is a adhesive label used to collect taxes or fees on documents, tobacco, alcoholic drinks, drugs and medicines, playing cards, hunting licenses, firearm registration, and many other things...
s affixed to cardboard disks) in denominations of 5, 10, 15, 20, 25, 30, 40, 45, 50 and 60 céntimos.
The first Nationalist Banco de España issues were made in 1936, in denominations of 5, 10, 25, 50, 100, 500 and 1000 pesetas. 1 and 2 pesetas notes were added in 1937. From the mid 1940s, denominations issued were 1, 5, 25, 50, 100, 500 and 1000 pesetas. The 1, 5, 25 and 50 pesetas were all replaced by coins by the late 1950s.
In 1978, 5000 pesetas notes were introduced. The 100 pesetas note was replaced by a coin in 1982, with 2000 pesetas notes introduced in 1983, 200 pesetas in 1984 and 10,000 pesetas in 1987. The 200 and 500 pesetas notes were replaced by coins in 1986 and 1987.
The penultimate series of banknotes was introduced between 1982 and 1987 and remained legal tender until the introduction of the euro.
| Value | € equiv. | Dimensions | Colour | Portrait |
|---|---|---|---|---|
| 200 ₧ | 1.20 | 120 × 65 mm | Orange | Leopoldo Alas |
| 500 ₧ | 3.01 | 129 × 70 mm | Dark blue | Rosalía de Castro Rosalía de Castro María Rosalía Rita de Castro , was a Galician romanticist writer and poet.Writing in the Galician language, after the Séculos Escuros , she became an important figure of the Galician romantic movement, known today as the Rexurdimento , along with Manuel Curros Enríquez and Eduardo Pondal... |
| 1 000 ₧ | 6.01 | 138 × 75 mm | Green | Benito Pérez Galdós Benito Pérez Galdós Benito Pérez Galdós was a Spanish realist novelist. Considered second only to Cervantes in stature, he was the leading Spanish realist novelist.... |
| 2 000 ₧ | 12.02 | 147 × 80 mm | Red | Juan Ramón Jiménez Juan Ramón Jiménez Juan Ramón Jiménez Mantecón was a Spanish poet, a prolific writer who received the Nobel Prize in Literature in 1956. One of Jiménez's most important contributions to modern poetry was his advocacy of the French concept of "pure poetry."-Biography:Jiménez was born in Moguer, near Huelva, in... |
| 5 000 ₧ | 30.05 | 156 × 85 mm | Brown | Juan Carlos I of Spain Juan Carlos I of Spain Juan Carlos I |Italy]]) is the reigning King of Spain.On 22 November 1975, two days after the death of General Francisco Franco, Juan Carlos was designated king according to the law of succession promulgated by Franco. Spain had no monarch for 38 years in 1969 when Franco named Juan Carlos as the... |
| 10 000 ₧ | 60.10 | 165 × 85 mm | Gray | Juan Carlos I of Spain Juan Carlos I of Spain Juan Carlos I |Italy]]) is the reigning King of Spain.On 22 November 1975, two days after the death of General Francisco Franco, Juan Carlos was designated king according to the law of succession promulgated by Franco. Spain had no monarch for 38 years in 1969 when Franco named Juan Carlos as the... and Felipe, Prince of Asturias Felipe, Prince of Asturias Felipe, Prince of Asturias de Borbón y de Grecia; born 30 January 1968), is the third child and only son of King Juan Carlos and Queen Sofía of Spain.... |
The last banknote
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s series (1992) was:
| Value | € equiv. | Dimensions | Colour | Portrait |
|---|---|---|---|---|
| 1 000 ₧ | 6.01 | 130 × 65 mm | Green | Hernán Cortés Hernán Cortés Hernán Cortés de Monroy y Pizarro, 1st Marquis of the Valley of Oaxaca was a Spanish Conquistador who led an expedition that caused the fall of the Aztec Empire and brought large portions of mainland Mexico under the rule of the King of Castile in the early 16th century... and Francisco Pizarro Francisco Pizarro Francisco Pizarro González, Marquess was a Spanish conquistador, conqueror of the Incan Empire, and founder of Lima, the modern-day capital of the Republic of Peru.-Early life:... |
| 2 000 ₧ | 12.02 | 138 × 68 mm | Red | José Celestino Mutis José Celestino Mutis -External links:*** at The Catholic Encyclopedia official site... |
| 5 000 ₧ | 30.05 | 146 × 71 mm | Brown | Christopher Columbus Christopher Columbus Christopher Columbus was an explorer, colonizer, and navigator, born in the Republic of Genoa, in northwestern Italy. Under the auspices of the Catholic Monarchs of Spain, he completed four voyages across the Atlantic Ocean that led to general European awareness of the American continents in the... |
| 10 000 ₧ | 60.10 | 154 × 74 mm | Gray | Juan Carlos I of Spain Juan Carlos I of Spain Juan Carlos I |Italy]]) is the reigning King of Spain.On 22 November 1975, two days after the death of General Francisco Franco, Juan Carlos was designated king according to the law of succession promulgated by Franco. Spain had no monarch for 38 years in 1969 when Franco named Juan Carlos as the... and Jorge Juan y Santacilia Jorge Juan y Santacilia Jorge Juan y Santacilia was a Spanish mathematician, scientist, naval officer, and mariner.-Family and Education:... |
Andorran peseta
The Andorran peseta (ADP), in CatalanCatalan language
Catalan is a Romance language, the national and only official language of Andorra and a co-official language in the Spanish autonomous communities of Catalonia, the Balearic Islands and Valencian Community, where it is known as Valencian , as well as in the city of Alghero, on the Italian island...
pesseta, was a 1:1 peg to the Spanish peseta. As Andorra
Andorra
Andorra , officially the Principality of Andorra , also called the Principality of the Valleys of Andorra, , is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe having an area of...
used coins and banknotes from Spain, there was no separate Andorran peseta, and they were convertible into normal pesetas.
Replacement by the euro
The peseta was replaced by the euroEuro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
(€) in 1999 on currency exchange boards. Euro coins
Euro coins
There are eight euro coin denominations, ranging from one cent to two euros . The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone has its own design on the obverse, which means that each coin has a variety of different...
and notes
Euro banknotes
Euro banknotes are the banknotes of the euro, the currency of the eurozone and have been in circulation since 2002. They are issued by the national central banks of the euro area or the European Central Bank...
were introduced in January 2002, and on March 1, 2002, the peseta lost its legal tender status in Spain, and also in Andorra. The exchange rate was 1 euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
= 166.386 ESP. Prices in many Andorran supermarkets and other retail establishments are still shown dual-priced in euros and pesetas or in euros and French francs.
Peseta notes and coins that were legal tender
Legal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
on December 31, 2001, remain exchangeable indefinitely at any branch of the central bank
Banco de España
The Bank of Spain , is the national central bank of Spain. Established in Madrid in 1782 by Charles III, today the bank is a member of the European System of Central Banks.-History:...
. According to this entity, approximately millions of pesetas (with a value estimated in 1.7 billion euros) were never converted to euro.
Huge amounts of pesetas of dubious provenance are believed to have helped to fuel a cash based money laundering real estate boom just prior to, and after, the conversion to the euro. Mafia and criminal holdings of pesetas in the billions were poured into massive real estate projects in Spain and elsewhere, the real estate could then be legally sold into euros.
In 2011, more than 60 shops belonging to the small Galician fishing town of Mugardos
Mugardos
Mugardos is a small fishing borough and municipality in Ferrolterra, located in the province of A Coruña in Galicia, northwestern Spain.-Climate:...
reintroduced the peseta (accepting it alongside the euro), as a result of the economic crisis the country has been living for the past few years.
See also
- Commemorative coins of SpainCommemorative coins of SpainThe commemorative coins of Spain are minted by the Real Casa de la Moneda*10 euros : Silver 8-réales - weight : 27 g - diameter : 40 mm*12 euros : Silver - weight : 18 g - diameter : 33 mm...
- Spanish euro coinsSpanish euro coinsSpanish euro coins feature three different designs for each of the three series of coins. The minor series of 1, 2 and 5 cent coins were designed by Garcilaso Rollán, the middle series of 10, 20, and 50 cent coins by Begoña Castellanos and the two major coins feature the portrait or effigy of King...
- Latin Monetary UnionLatin Monetary UnionThe Latin Monetary Union was a 19th century attempt to unify several European currencies, at a time when most circulating coins were still made of gold and silver...
(1865–1927) - Latin UnionLatin UnionThe Latin Union is an international organization of nations that use Romance languages, with the aim of protecting, projecting, and promoting the common cultural heritage and unifying identities of the Latin, and Latin-influenced, world. It was created in 1954 in Madrid, Spain, and has existed as a...
(since 1954) - European UnionEuropean UnionThe European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
(since 1957) - EuroEuroThe euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
(from 1999/2002) - Economy of SpainEconomy of SpainThe economy of Spain is the twelfth-largest economy in the world, based on nominal GDP comparisons, and the fifth-largest in Europe. It is regarded as the world's 20th most developed country....