51 | Spanish Banknotes

Automatically generated translation

100 Pesetas. NOT ISSUED. January 1, 1937. Bank of Spain, Gijón. Without series and with the matrix on the left. (Edifil 2021: NE31P, Pick: unlisted). Very rare. Good Extremely Fine. Encapsulated PMG55 (counterfoil attached) (to give us an idea of ​​the rarity, as of November 1, 2023, this bill is the highest rated along with another bill in PMG and the only ones listed in PMG).

When the Interprovincial Council of Asturias and León had just been created in December 1936, its councilors immediately decided to put new banknotes into circulation that would serve to collect the deteriorated stubs that had been circulating through Asturias territory for a few weeks. Furthermore, these bills were to be used to return the seized funds to the private banks.
To proceed with this issue, an account was created in the Bank of Spain worth 60 million pesetas from the Treasury of the Ministry of Finance. This issue, dated January 1, 1937, was scheduled to circulate from February 8 of that same year. In the meantime, the checks were stamped to extend their validity. When the Ministry of Finance found out about the provincial issues in northern Spain, it published an order on January 14, 1937 that prohibited the issuance of documents intended to circulate as banknotes. However, Asturias continued with its manufacturing, although finally on February 8 they bowed to the ministry's wishes. Those banknotes dated January 1, 1937 were never finished, although the image of the 100 peseta banknote was published in the press (“Avance” newspaper, February 6, 1937). The designs on the reverses were reused in the subsequent Gijón issue of September 1937.
The Gijón 100 peseta banknotes from January 1937 are extraordinarily rare. The very few that are preserved usually do so with a matrix and printed back, like this specimen of extraordinary conservation.