Online Banknotes Auction Via Stellae #89

Wednesday, 20 December 2023 | Madrid, 16:00 CET


51 | Spanish Banknotes

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.

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52 | Spanish Banknotes

25 Pesetas Not Issued (only the reverse of this value is known). September 1937. Gijón Branch. Pair without guillotining with edge of the sheet. (Edifil 2021: NE29Pa). Unusual. Uncirculated.
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53 | Spanish Banknotes

100 Pesetas. September 1937. Asturias and León. No serie. (Edifil 2021: 399, Pick: S580). It retains all its original finish. Almost Uncirculated.
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54 | Spanish Banknotes

100 Pesetas. September 1937. Couple without guillotining. Without series, with numbering (applied later, like all known numbered copies) and with a matrix on the left. (Edifil 2021: 399b, Pick: S580r2). Uncirculated. PMG64 encapsulation.
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55 | Spanish Banknotes

Complete series of 8 banknotes (includes the unissued 500 and 1000 Pesetas) from the January 1, 1937 issue of the Bank of Spain in Bilbao, without numbering, with matrix on the left and with various antesignatures. Rare, especially in this quality. Almost Uncirculated/EBC++.
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56 | Spanish Banknotes

50 Cents. 1937. Series C, last series issued. (Edifil 2021: 391a, Pick: 93). It retains all its original finish. Almost Uncirculated.
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57 | Spanish Banknotes

1 Peseta. 1937. Series A. (Edifil 2021: 392). Original sizing, typical dots. Uncirculated.
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58 | Spanish Banknotes

100 Pesetas. March 11, 1938. Not Issued, Numbering 0,000,000, SPECIMEN, diagonally, with the La Rue seal and numbered Nº38, numbered specimens are very rare, normally for high-ranking authorities. (Edifil 2021: NE32M, Pick: 90s). Extremely rare, very few known copies, without a doubt one of the rarest banknotes in the Spanish billet and without a doubt one of the most iconic banknotes. Uncirculated. PMG63 encapsulation ("previously mounted", like most of those known).

The development of the Spanish Civil War produced a totally different economic development on both sides in the conflict. While in the territory dominated by the rebel troops inflation was more or less contained (within what a war context allows), in the republican zone it ran amok. This increase in prices led to the need to produce and issue more and more banknotes in Republican territory, which in turn translated into new orders and extensions from others to Bradbury, despite the large quantities of banknotes that had already been ordered. before the outbreak of war. And how they had already involved Thomas de la Rue in the game months before the war, since they also continued working with said English printing company. The orders followed one another and the action intensified from the second half of 1937 and 1938.
For reasons unknown to us, the order dates and order entries with Thomas de la Rue suggest a design and manufacturing process noticeably slower than those of Bradbury, which generally committed to producing banknotes in terms of about six to eight months, sometimes even less. Thomas de la Rue designed one of the iconic banknotes of Spanish Notafilia of the 20th century, dedicated to the Lady of Elche. The printer produced numerous proofs with various color combinations. The ones we know are always in orange or reddish tones and have handwritten numbering in the lower right, from D701 to D713. Some copies are also known in final colors cut without numbering, others with annotations and very few with numbering.
As for the specimen with the TDLR stamp, it is extraordinarily rare. It is the third copy that we know of this way and it has the particularity of the partial impression of the printing company's archival stamp, which by the way looks like an ink pad compared to the usual intaglio stamp of other copies in later years. A specimen like this has not been seen at auction for more than a decade.

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59 | Spanish Banknotes

100 Pesetas. August 15, 1938. Provisional note for two years not issued from the Bank of Spain, Barcelona. No serie. (Edifil 2021: NE38, Pick: 91). The issuance of this banknote was planned, originating in the Catalan branch of Barcelona, ​​which was printed in the Gráficas Reunidas workshops in Madrid, due to the vicissitudes of the Civil War, it was not issued and was destroyed, only Very few examples are known, the Edifil catalog mentions three color combinations. This combination is the rarest of this issue. Extremely Fine. PMG53 encapsulation (annotation).
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60 | Spanish Banknotes

100 Pesetas. June 30, 1906. Series A and dry stamp SPANISH STATE / BURGOS. (Edifil 2021: 408). Very Fine.
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61 | Spanish Banknotes

25 Pesetas. September 24, 1906. Series C and with the SPANISH STATE / BURGOS seal. (Edifil 2021: 400). Very Fine.
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62 | Spanish Banknotes

500 Pesetas. July 15, 1907. Without series and dry stamp SPANISH STATE / BURGOS. (Edifil 2021: 412). Very Fine.
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63 | Spanish Banknotes

1000 Pesetas. July 15, 1907. Without series and dry stamp SPANISH STATE / BURGOS. (Edifil 2021: 415). Rare. Very Fine.
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64 | Spanish Banknotes

1000 Pesetas. May 10, 1907. Without series and dry seal PROVISIONAL GOVERNMENT OF THE REPUBLIC / APRIL 14, 1931 and SPANISH STATE / BURGOS. (Edifil 2021: 414A, Pick: 61b). Very rare, small repair at the ends of the central axis of the bill. Very Fine.
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65 | Spanish Banknotes

500 Pesetas. July 15, 1907. Without series and dry seal PROVISIONAL GOVERNMENT OF THE REPUBLIC / APRIL 14, 1931 and SPANISH STATE / BURGOS. (Edifil 2021: 412A, Pick 66b). Very Fine.
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66 | Spanish Banknotes

100 Pesetas. July 1, 1925. Series A and dry seal PROVISIONAL GOVERNMENT OF THE REPUBLIC / APRIL 14, 1931 and SPANISH STATE / BURGOS. (Edifil 2021: 410A). Natural breakage caused by the seal itself. Very Fine.
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67 | Spanish Banknotes

Set of 4 banknotes of 25 pesetas (1), 50 Pesetas (3) issued September 24, 1906, July 15, 1907 and August 15, 1928, respectively and all of them with the ESPAÑOL STATE / BURGOS dry stamp. (Edifil 2021: 404, 405, 407, 403). TO EXAMINE.
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68 | Spanish Banknotes

Set of 4 Bank of Spain banknotes, all of them issued between 1925 and 1936 and with various dry or rubber stamps, in different qualities. TO EXAMINE.
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69 | Spanish Banknotes

5 Pesetas. November 21, 1936. No series. (Edifil 2021: 417, Pick: 97a). Very rare in this conservation. EBC++. PMG58 encapsulation.
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70 | Spanish Banknotes

25 Pesetas. November 21, 1936. Series A. (Edifil 2021: 419, Pick: 99a). It retains part of its original finish. Extremely Fine.
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71 | Spanish Banknotes

100 Pesetas. November 21, 1936. Series A, very low numbering. (Edifil 2021: 421, Pick: 101a). Ripple that does not break the fiber, preserving all its original size. EBC+++.
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72 | Spanish Banknotes

100 Pesetas. July 18, 1937. Color proof of front and back (adhered together) of the Not Issued and Numbering 0,000,227 (posthumous as usual). (Edifil 2021: NE42P, Pick: 106C). Extremely rare, very few known copies, without a doubt one of the rarest banknotes in the Spanish billet, it coincides with the one photographed in the Filabo catalog and with the one sold at the Caja Madrid auction. Uncirculated.

In 1937, after a year of civil war, the Franco side decided that it was time to produce more elaborate banknotes than the simple lithographic ones of November 1936. To do so, they turned to the Italian company C&C Banconote, which, despite not Having experience in the production of banknotes, he accepted the assignment, even though it meant having to learn a new printing technique, intaglio.
The order involved the manufacturing of millions of banknotes in the classic Spanish denominations: 25, 50, 100, 500 and 1,000 pesetas. After having paid tribute to the cities that rose up in favor of the rebels, the idea was to turn to a fairly recurring theme: national deeds. In this way, the 25 peseta bill would be dedicated to the Conquest of America (Columbus, caravels and Martín Alonso Pinzón), the 50 peseta bill would be dedicated to the Reconquest (Alfonso VIII, battle of Navas de Tolosa and Arab standard), the 100 pesetas to the War of Independence (General Castaños, battle of Bailén and coat of arms), that of 500 pesetas to the War against the Turks (Juan of Austria, battle of Lepanto and Álvaro de Bazán) and that of 1,000 pesetas to the War for the Duchy of Milan against the Valois (Charles V, battle of Pavia and Isabel of Portugal).
After what happened due to the scandal of the leak of stolen banknotes (25 and 1,000 pesetas) in Bilbao, Hendaye and Tetouan, the Bank of Spain decided to destroy the banknotes that had already been received. This burning took place, according to what is said, in the Soria branch (despite the fact that we have evidence that there were banknotes in Sevilla, which is curious). One million 1,000 peseta banknotes, eleven million 100 peseta banknotes and eight million 25 peseta banknotes were destroyed in this way, that is, 2.3 billion pesetas in banknotes, at a cost of more than 6.5 million Italian lire.
The story goes that a 100 peseta bill was saved from burning when it flew away almost intact and that it was rescued by a local shepherd. This bill allows us to determine the color combination that was finally chosen, Prussian blue for the obverse, with the shield in light green, and purple for the reverse. However, the note offered for auction here features a very different combination, reddish brown with a blue shield. It is identified as 000227. It is the only preserved sample of a different color. There is another one in the adopted colors marked S 0210. It is almost unnecessary to say that it is a unique and extraordinarily attractive specimen worthy of the best collections.

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73 | Spanish Banknotes

Proof of the reverse of 1000 Pesetas Not Issued, dated 1937 and with the Cartevalori numbering, added in a later process. (Filabo: NE24pb, Ne24pv). Rare. Almost Extremely Fine.
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74 | Spanish Banknotes

1 Peseta. October 12, 1937. Series E. (Edifil 2021: 425a, Pick: 104a). It retains all its original finish. Uncirculated.
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75 | Spanish Banknotes

2 Pesetas. October 12, 1937. Series A. (Edifil 2021: 426, Pick: 105a). Very rare in this exceptional quality, original sizing. Uncirculated.
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76 | Spanish Banknotes

1 Peseta. February 28, 1938. Series B. (Edifil 2021: 427a, Pick: 107a). Original sizing. Uncirculated.
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77 | Spanish Banknotes

1 Peseta. April 30, 1938. Series D. (Edifil 2021: 428a, Pick: 108a). Original sizing. Almost Uncirculated.
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78 | Spanish Banknotes

50 Pesetas. May 20, 1938. Series A. (Edifil 2021: 431, Pick: 112a). Unusual, natural tear caused by the disposition of the security paper. EBC++. PMG58 (small tear) encapsulation.
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79 | Spanish Banknotes

100 Pesetas. May 20, 1938. Series A. (Edifil 2021: 432, Pick: 113a). Original sizing. EBC++. PMG55EPQ package.
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80 | Spanish Banknotes

5 Pesetas. August 10, 1938. Series C. (Edifil 2021: 435a, Pick: 110a). Original sizing. Uncirculated.
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81 | Spanish Banknotes

2 Pesetas. April 30, 1938. Series M. (Edifil 2021: 429A). AFRICA typographic overload, in red. Extremely rare, it retains all its original finish. Almost Uncirculated. It matches the one photographed in the Edifil catalog and the one auctioned at the Caja Madrid Auction.

The differentiation of money in circulation in some territories of a country is a mechanism originally designed to prevent capital flight and maintain sufficient cash in that area. A simple mechanism to accomplish this task is the use of stamps, wet or dry. A Ministerial Order of April 22, 1939 urged the stamping of the word “AFRICA” on the Francoist emissions of 1938, in theory with the justification of preventing smuggling in the Protectorate of Morocco, estimated at about 300 million pesetas. Only those could circulate in the region, preventing their illegal entry into the rest of Spanish territory. The idea for this project came from Juan Beigbeder Atienza, then High Commissioner of Spain in Morocco.
There was never any official regulation on the matter, only two proposals from the Ministry of Finance, and they were never put into circulation for fear of the drop in the price of the peseta in the Tangier area. Yes, some dies were engraved with the stamp and typographic stamping was carried out diagonally on the obverse of a series of banknotes. It is not clear if they limited themselves to creating a sample series or if millions of pesetas were actually stamped, because the survivors are minimal.
There are also forgeries of these stamps made using wet stamps in modern times. The original plates, as mentioned for letterpress printing, have a subtle pattern inside each letter precisely to make counterfeiting difficult; modern tampons cannot reproduce it.
Needless to say, these authentic bills are extraordinarily rare, if not unique.

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82 | Spanish Banknotes

25 Pesetas. May 20, 1938. Series E. (Edifil 2021: 430A). AFRICA typographic overload, in red. Extremely rare, it retains all its original finish. Good Extremely Fine. It matches the one photographed in the Edifil catalog and the one auctioned at the Caja Madrid Auction.

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83 | Spanish Banknotes

25 Pesetas. January 9, 1940. Series A. (Edifil 2021: 436, Pick: 116a). Unusual in this quality. Uncirculated. PMG64 encapsulation.
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84 | Spanish Banknotes

25 Pesetas. January 9, 1940. NOT ISSUED. Proof of the obverse in a non-definitive color and without numbering. (Edifil 2021: NE49P). Extraordinarily rare, previously mounted on cardboard. Almost Uncirculated.
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85 | Spanish Banknotes

25 Pesetas. January 9, 1940. Proof of the front and back in a non-definitive color and with the numbering A1234567 (consecutive numbers). (Edifil 2021: 438P, 438Pa). Extraordinarily rare, previously mounted on cardboard. Almost Uncirculated-.
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86 | Spanish Banknotes

25 Pesetas. January 9, 1940. Proof of the front and back in a non-definitive color and with the numbering A1234567 (consecutive numbers). (Edifil 2021: 438P, 438Pa). Extraordinarily rare, previously mounted on cardboard. Almost Uncirculated-.
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87 | Spanish Banknotes

100 Pesetas. January 9, 1940. Series A. (Edifil 2021: 438, Pick: 118a). Unusual in this exceptional quality, original sizing. Uncirculated. PMG65EPQ package.
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88 | Spanish Banknotes

100 Pesetas. January 9, 1940. Proof of the obverse without the bust of Columbus. (Edifil 2021: 438P). Extraordinarily rare, it matches the one photographed in the Filabo catalog (we understand that it is the only one known), staple points. Good Extremely Fine.
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89 | Spanish Banknotes

Proof of the obverse of the 500 Pesetas bill issued on January 9, 1940, without numbering, without the cashier's signature and with a lithographic background. (Edifil 2021: 439Pa). Very rare and spectacular. Almost Uncirculated.
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90 | Spanish Banknotes

Proof of the obverse of the 500 Pesetas bill issued on January 9, 1940, without numbering, without the cashier's signature and without a lithographic background. (Edifil 2021: 439Pa). Very rare and spectacular. Almost Uncirculated.
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91 | Spanish Banknotes

1000 Pesetas. January 9, 1940. Series A. (Edifil 2021: 440, Pick: 120a). EBC++. PMG58 encapsulation.
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92 | Spanish Banknotes

1 Peseta. September 4, 1940. No series. (Edifil 2021: 442, Pick: 122a). It retains all its original finish. Uncirculated.
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93 | Spanish Banknotes

5 Pesetas. February 13, 1943. No series. (Edifil 2021: 446, Pick: 127a). Original sizing. Uncirculated.
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94 | Spanish Banknotes

1 Peseta. June 15, 1945. No series. (Edifil 2021: 448, Pick: 128a). Original sizing and clarity in the upper right corner. Almost Uncirculated-.
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95 | Spanish Banknotes

25 Pesetas. February 19, 1946. No series. (Edifil 2021: 450, Pick: 130a). Unusual in this quality. Uncirculated. PMG64 encapsulation.
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96 | Spanish Banknotes

500 Pesetas. February 19, 1946. No series. (Edifil 2021: 452, Pick: 132a). Rare in this quality. EBC++. PMG55 encapsulation.
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97 | Spanish Banknotes

5 Pesetas. March 5, 1948. Series E. (Edifil 2021: 455a, Pick: 136a). Original sizing. Uncirculated.
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98 | Spanish Banknotes

1 Peseta. June 19, 1948. No series. (Edifil 2021: 457, Pick: 135a). Original sizing. Uncirculated.
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99 | Spanish Banknotes

5 Pesetas. April 12, 1947. Series N. (Edifil 2021: 459a). Original sizing. Almost Uncirculated.
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100 | Spanish Banknotes

500 Pesetas. November 15, 1951. Series C. (Edifil 2021: 460a, Pick: 142a). Original sizing. Good Extremely Fine.
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