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25 Pesetas replica

Issuer Banco de España
Year 1946
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Size 125 x 80 mm
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Obverse description Intaglio portrait of economist Álvaro Flórez Estrada (1766–1853) at left center, within a purple guilloche border with laurel branch underprint. Denomination numeral "25" appears in all four corners; central text block carries the date and three signature lines over an orange rosette underprint.
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Reverse lettering BANCO DE ESPAÑA
25 PESETAS
REPRODUCCIÓN AUTORIZADA
(Translation: BANK OF SPAIN
25 PESETAS
AUTHORIZED REPRODUCTION)
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Comments

The 1946 25 Pesetas is a late Francoist-era issue from a period when the FNMT was producing essentially all Spanish paper currency under strict state control, the private printing contracts of the Republican period having been decisively closed off. What makes this particular entry notable is the designation "replica" — the FNMT produced authorized facsimile copies of certain notes for educational and archival purposes, a practice distinct from the commemorative restrikes sometimes encountered in other European contexts.

Collectors should treat the replica status as the primary variable here. Originals of P#130 are not especially rare, which makes the existence of an authorized copy more curious than urgent.

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