Spanish peseta

{{short description|Currency of Spain from 1868 to 2002}} {{Other uses|peseta (disambiguation)}} {{Infobox currency | local_name1 = peseta española | local_name_lang1 = es | name_abbr = Pts | image_1 = 100 pesetas.png | image_title_1 = Pts 100 | image_2 = ESP-2ptas.jpg | image_title_2 = Pts 2 – Map of Spain – 1982 | inflation_rate = 1.4% | inflation_source_date = Cámara Guipúzcoa, 1998 | iso_code = ESP | iso_comment = before 1981: {{ISO 4217|ESA}} | using_countries = None, previously: {{ubl|{{Collapsible list | title = {{nobold|{{ESP}}}} | liststyle=margin-left: 1em | {{flagicon|Spain|1873}} [[First Spanish Republic]] {{small|(1873–1874)}}|{{flagicon|Spain|1931}} [[Second Spanish Republic]] {{small|(1931–1939)}}|{{flagicon|Spain|1945}} [[Francoist Spain]] {{small|(1936–1975)}}| {{flagicon|Spain|1945}} ''[[Spanish Guinea]]'' {{small|(1926–1968)}}|{{flagicon|Spain|1945}} ''[[Spanish Sahara]]'' {{small|(1884–1975)}}}}|{{AND}}}} | ERM_since = 19 June 1989 | ERM_fixed_rate_since = 31 December 1998 | euro_replace_non_cash = 1 January 1999 | euro_replace_cash = 1 March 2002 | ERM_fixed_rate = Pts 166.386 | unit = Peseta | plural = Pesetas | nickname = {{ubl|''[[Spanish real|real]]'' (Pta 0.25)|''pela'' (Pta 1)|''duro'' (Pts 5)|''talego'' (Pts 1,000)|''kilo'' (Pts 1,000,000)}} | subunit_ratio_1 = {{frac|1|100}} | subunit_name_1 = ''[[céntimo]]'' (ctm/cts) | subunit_inline_note_1 = (because of [[inflation]], ''céntimos'' were withdrawn from circulation in 1983) | symbol = Pta/Pts, ₧, or Pt | nickname_subunit_1 = {{ubl|''perra chica'' (5 cts)|''perra gorda'' (10 cts)}} | frequently_used_coins = Pta 1, Pts 5, Pts 10, Pts 25, Pts 50, Pts 100, Pts 200, Pts 500 | rarely_used_coins = 50 Cts, Pts 2 | frequently_used_banknotes = Pts 1,000, Pts 2,000, Pts 5,000, Pts 10,000 | rarely_used_banknotes = Pts 200, Pts 500 | issuing_authority = [[Bank of Spain]] | issuing_authority_website = {{URL|www.bde.es}} | mint = [[Fábrica Nacional de Moneda y Timbre]] | mint_website = {{URL|www.fnmt.es}} | printer = [[Fábrica Nacional de Moneda y Timbre]] | printer_website = {{URL|www.fnmt.es}} | obsolete = yes }} The '''peseta''' ({{IPAc-en|p|ə|ˈ|s|eɪ|t|ə}}, {{IPA|es|peˈseta|lang}}){{efn|Name in other languages of Spain: *[[Aragonese language|Aragonese]], [[Asturian language|Asturian]] and [[Galician language|Galician]]: ''peseta'', {{IPA|an|peˈseta|label=IPA}} *{{langx|eu|pezeta}}, {{IPA|eu|pes̻eta|IPA}} *{{langx|ca|pesseta}}, {{IPA|ca|pəˈsɛtə|IPA}}}} was the [[currency]] of [[Spain]] between 1868 and 2002. Along with the [[French franc]], it was also a [[de facto currency|''de facto'' currency]] used in [[Andorra]] (which had no national currency with [[legal tender]]).<ref>{{cite book |url=https://books.google.com/books?id=OnOwCwAAQBAJ&pg=PA79 |page=79 |title=The Dollar-Mark Axis: On Currency Power |author=Brendan D. Brown |publisher=Springer |year=1979|isbn=9781349042456 }}</ref>

== Etymology ==

The name of the currency derives from ''peceta'', a [[Catalan Language|Catalan]] word meaning ''little piece,'' from of the Catalan word ''peça'' (lit. ''piece'', "coin"). Its etymology has wrongly been attributed to the Spanish ''[[peso]]''.<ref name="Eti">{{cite web |title=Etimología de PESETA |url=http://etimologias.dechile.net/?peseta |website=Etimologías de Chile |access-date=17 June 2019 |language=es |archive-date=10 June 2019 |archive-url=https://web.archive.org/web/20190610014054/http://etimologias.dechile.net/?peseta |url-status=live }}</ref> The word ''peseta'' has been known as early as 1737 to colloquially refer to the coin worth 2 ''reales provincial'' or {{frac|1|5}} of a [[peso]].<ref>{{cite book |editor1-last=Royal Spanish Academy |editor1-link=Royal Spanish Academy |title=Diccionario de autoridades |date=1737 |url=http://web.frl.es/dtSearch/dtisapi6.dll?cmd=getdoc&DocId=61421&Index=C%3a%5cinetpub%5cwwwroot%5cDA%5fINDEX&HitCount=1&hits=1+&SearchForm=%2fDA%5fform%2ehtml |language=es |access-date=2019-05-21 |archive-date=2020-02-14 |archive-url=https://web.archive.org/web/20200214044355/http://web.frl.es/dtSearch/dtisapi6.dll?cmd=getdoc&DocId=61421&Index=C%3a%5cinetpub%5cwwwroot%5cDA%5fINDEX&HitCount=1&hits=1+&SearchForm=%2fDA%5fform%2ehtml |url-status=live }}</ref><ref>''Real provincial'' is 1/10 peso as per [[#History]]</ref> Coins denominated in "pesetas" were briefly issued in 1808 in Barcelona under French occupation; see [[Catalan peseta]].

== Symbol == Traditionally, there was never a single symbol or special character for the Spanish peseta. Common abbreviations were "Pta" (plural: "Pts), "Pt", and "Ptas". A common way of representing amounts of pesetas in print was using [[superior letter]]s: "Pta" and "Pts".

[[File:AEG Olympia - Traveller de Luxe - Spanish keyboard layout-9620.jpg|left|thumb|A 1970s [[AEG (German company)|AEG]] Olympia Traveller de Luxe [[typing machine]] with the ₧ symbol]]

Common Spanish models of [[typewriter|mechanical typewriter]]s had the expression "Pts" on a single type head, as a shorthand intended to fill a single type space ({{key press|Pts}}) in tables instead of three ({{key press|P|t|s}}).

Later, Spanish models of [[IBM Electric typewriter|IBM electric typewriter]]s also included the same type in its repertoire.

When the first [[IBM PC]] was designed in 1980, it included a "peseta symbol" "Pt" in the [[Read-only memory|ROM]] of the [[IBM Monochrome Display Adapter|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.

In order to guarantee the interchange with previous encodings such as code page 437, 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.{{citation needed|date=March 2017}}

In the version 1.0 of Unicode the character ₧ U+20A7 PESETA SIGN had two reference glyphs: a "Pts" ligature glyph as in IBM code page 437 and an erroneous P with stroke. In Unicode 2.0 the reference glyph P with stroke was erroneously displayed as the only symbol for peseta<ref>{{cite web |url=https://www.unicode.org/L2/L2000/00013-n2156.pdf |title=Peso sign and Peseta sign (U-20A7) |last1=Sato |first1=Takayuki K. |date=2000-01-06 |access-date=2015-12-26 |archive-date=2016-03-04 |archive-url=https://web.archive.org/web/20160304105657/http://www.unicode.org/L2/L2000/00013-n2156.pdf |url-status=live }}</ref> and was later corrected to the Pts ligature and a separate character code was added for the peso sign.

==Subdivision== The peseta was subdivided into 100 ''[[céntimo]]s'' and, informally, into 4 ''[[Spanish real|reales]],'' which are the origin of the American [[Quarter (United States coin)|quarter]]. The last coin of any value under one peseta was a 50 cts coin issued in 1980 to celebrate Spain's hosting of the [[1982 FIFA World Cup]].<ref>[http://worldcoingallery.com/countries/display.php?image=img9/164-815&desc=Spain 50 céntimos (1980).] {{Webarchive|url=https://web.archive.org/web/20120728074240/http://worldcoingallery.com/countries/display.php?image=img9%2F164-815&desc=Spain |date=2012-07-28 }} World Coin Gallery.</ref> The last 25-céntimo coin (or real) was dated 1959, the ten céntimos also dated 1959; both coins bore the portrait of [[Francisco Franco|Franco]]. The 1-céntimo coin was last minted in 1913 and featured King [[Alfonso XIII]].<ref>[http://worldcoingallery.com/countries/display.php?image=nmc2/164-731&desc=Spain 1 céntimo (1911–1913).] {{Webarchive|url=https://web.archive.org/web/20120727162131/http://worldcoingallery.com/countries/display.php?image=nmc2%2F164-731&desc=Spain |date=2012-07-27 }} World Coin Gallery.</ref> The {{frac|1|2}}-céntimo coin was last minted in 1868 and featured Queen [[Isabella II of Spain|Isabel II]].<ref>[http://worldcoingallery.com/countries/display.php?image=img12/164-632&desc=Spain 1/2 céntimo (1866–1868).] {{Webarchive|url=https://web.archive.org/web/20120728075221/http://worldcoingallery.com/countries/display.php?image=img12%2F164-632&desc=Spain |date=2012-07-28 }} World Coin Gallery.</ref>

== History == {{anchor|peso duro}} Currencies used in Spain before the peseta's introduction in 1868 include: * The ''[[maravedí]]'' from the 11th to 15th centuries. * The original ''[[Spanish real]]'' (later, ''real nacional'') introduced in the mid-14th century, which from 1497 was fixed at 34 maravedíes. Eight of these ''reales nacional'' were equal to the [[Spanish dollar]], or ''peso'', or ''duro''. * The ''real provincial'', used only in [[Peninsular Spain]] and not its colonies, and valued at {{frac|1|10}} dollar.<ref>{{Cite journal |last=Sumner |first=W. G. |date=1898 |title=The Spanish Dollar and the Colonial Shilling |url=https://www.jstor.org/stable/1834139 |journal=The American Historical Review |volume=3 |issue=4 |pages=607–619 |doi=10.2307/1834139 |jstor=1834139 |issn=0002-8762|url-access=subscription }}</ref> * The ''real de vellón'', another version of the ''real'' also exclusive to Peninsular Spain, issued prolifically in the 17th and 18th centuries, and valued much less than the above-mentioned ''reales''. In 1737 it was finally fixed at {{frac|1|20}}th dollar. In 1850 it was divided decimally into 10 ''décimos'' or 100 ''céntimos''. * The short-lived ''[[Spanish escudo#Silver escudo|silver escudo]]'' from 1864 to 1869, worth {{frac|1|2}} dollar and divided into 10 ''reales de vellón'' or 100 ''céntimos de escudo''.

The peseta, previously not a monetary unit but a colloquial name for the coin worth {{frac|1|5}} of a [[peso]], was formally introduced as a currency unit in 1868, at a time when Spain considered joining the [[Latin Monetary Union]] (LMU).<ref name="Brit">{{cite encyclopedia |url=https://www.britannica.com/topic/peseta |title=Peseta |encyclopedia=Encyclopaedia Britannica |access-date=2018-12-17 |archive-date=2018-12-18 |archive-url=https://web.archive.org/web/20181218054955/https://www.britannica.com/topic/peseta |url-status=live }}</ref> Spain eventually decided not to formally join the LMU, although it did achieve alignment with the bloc.<ref>{{cite book |url=https://books.google.com/books?id=s8hiamcsiFQC&pg=PA150 |page=150 |title=A Financial History of Western Europe |author=Charles P. Kindleberger |publisher=Taylor & Francis |year=2005|isbn=9780415378673 }}</ref> 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 [[Spanish peso]] with 1 ''peso duro'' = 5 ''pesetas''. The peseta replaced all previous currencies denominated in ''[[Spanish escudo|silver escudos]]'' and ''[[Spanish real|reales de vellón]]'' at a rate of 5 ''pesetas'' = 1 ''peso duro'' = 2 ''silver escudos'' = 20 ''reales de vellón''.

The peseta was initially 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.

In 1883 the peseta went off the gold standard and traded below parity with the gold [[French franc]]. However, as the free minting of silver was suspended to the general public, the peseta had a floating exchange rate between the value of the gold franc and the silver franc. The Spanish government captured all profits from minting ''duros'' (5-peseta coins) out of silver bought for less than Pts 5. While total issuance was limited to prevent the peseta from falling below the silver franc, the abundance of ''duros'' in circulation prevented the peseta from returning to par with the gold franc. Spain's system where the silver ''duro'' trades at a premium above its metallic value due to relative scarcity is called the ''fiduciary standard''.<ref>{{Cite web|url=https://books.google.com/books?id=6pzT6Rbb9eQC&pg=RA2-PA223|title=European Currency and Finance, ..., Pursuant to S. Res. 469, 67-4, ... Foreign Currency and Exchange Investigation|year=1925|access-date=2022-03-19|archive-date=2023-01-15|archive-url=https://web.archive.org/web/20230115102819/https://books.google.com/books?id=6pzT6Rbb9eQC&pg=RA2-PA223|url-status=live}}</ref>

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.<ref>{{cite news |work=BBC News |url=https://www.bbc.co.uk/news/magazine-17140379 |title=A Point of View: Making friends the shared currency way |date=2 March 2012 |access-date=17 December 2018 |archive-date=19 December 2018 |archive-url=https://web.archive.org/web/20181219234535/https://www.bbc.co.uk/news/magazine-17140379 |url-status=live }}</ref>

During the [[Spanish Civil War|Civil War]] (1936–1939), gold and silver coinage was withdrawn and copper-nickel coins were introduced. In 1959, Spain became part of the [[Bretton Woods System]], pegging the peseta at a value of Pts 60 = [[United States dollar|US$]]1. In 1967, the peseta followed the devaluation of [[pound sterling|sterling]], maintaining the exchange rate of Pts 168 = £1 stg. and establishing a new rate of Pts 70 = US$1.

High [[inflation]] was constant in Spain from the Civil War until the 1990s. After one century with the Pts 1,000 being the largest note, the Pts 5,000 note was introduced in 1976. A series of coins was issued to commemorate the [[1982 FIFA World Cup]] held in Spain. All the fractional coinage was withdrawn in 1983; at the same time, Pts 2,000 and Pts 10,000 notes were introduced.

Pts 200 and Pts 500 notes were withdrawn in 1992 and replaced by coins, leaving Pts 1,000 as the smallest note. Coins ranged from Pta 1 to Pts 500. In that year, a series of coins commemorating [[1992 Summer Olympics]] in [[Barcelona]] and [[Seville Expo '92|Expo '92]] in [[Seville]] were issued. Spain was hit heavily by the [[early 1990s recession]] and the peseta was devalued three times, the first of them being just after [[Black Wednesday]], plummeting from Pts 100 to Pts 130 per US$1.<ref>[https://elpais.com/diario/1993/05/14/portada/737330404_850215.html El paro y la devaluación de la peseta le explotan al PSOE en plena campaña] {{Webarchive|url=https://web.archive.org/web/20210513064455/https://elpais.com/diario/1993/05/14/portada/737330404_850215.html |date=2021-05-13 }}. [[El País (Spain)|El País]]</ref>

All remaining [[Francoist Spain|Franco era]] coinage was withdrawn in 1997. The peseta linked its value with the euro coin on 1 January 1999, and hit rock bottom that year when Pts 200 were required to buy US$1.<ref>[http://www.elpais.com/articulo/economia/SOLBES/_PEDRO_/PSOE_/_COMISARIO_EUROPEO/GURRIA/_JOSE_ANGEL_/MINISTRO_DE_ECONOMIA_MEXICANO/dolar/supera/200/pesetas/elpepieco/20001026elpepieco_12/Tes El dólar supera las 200 pesetas] {{Webarchive|url=https://web.archive.org/web/20230115102825/https://elpais.com/diario/2000/10/26/economia/972511212_850215.html |date=2023-01-15 }}. [[El País (Spain)|El País]]</ref> At the time Euro became a material coin, Pts 185.29 were needed to buy US$1, that is, 1.1743 euros.<ref>{{cite web| url = http://www.ecb.int/euro/changeover/2002/html/index.en.html| title = Initial changeover (2002)| publisher = European Central Bank| access-date = 5 March 2011| archive-date = 27 May 2013| archive-url = https://web.archive.org/web/20130527210932/http://www.ecb.int/euro/changeover/2002/html/index.en.html| url-status = live}}</ref>

The peseta was replaced by the [[euro]] in 2002,<ref>{{cite news |url=http://news.bbc.co.uk/1/hi/business/1736935.stm |title=Euro becomes a reality |date=1 January 2002 |work=BBC News |access-date=17 December 2018 |archive-date=10 June 2003 |archive-url=https://web.archive.org/web/20030610004142/http://news.bbc.co.uk/1/hi/business/1736935.stm |url-status=live }}</ref> following the establishment of the euro in 1999. The exchange rate was €1 = Pts 166.386.<ref>{{cite news |url=http://news.bbc.co.uk/1/hi/events/the_launch_of_emu/euro_latest/245679.stm |title=E-Day: The euro is born |date=1 January 1999 |work=BBC News |access-date=17 December 2018 |archive-date=13 October 2011 |archive-url=https://web.archive.org/web/20111013194412/http://news.bbc.co.uk/2/hi/events/the_launch_of_emu/euro_latest/245679.stm |url-status=live }}</ref>

== Coins == {{See also|es:Anexo:Monedas de peseta de España{{!}}Appendix: Peseta coins from Spain}} From 1868 to 1982, a unique dating system for Spanish coins was employed. This would be adopted and sometimes abandoned intermittently during various times, and continued through to be used through the first years of [[Juan Carlos I]]'s reign. Although a common "authorization date" will be found on virtually all coins of this period on the obverse (front) of each coin, the actual date for many coins can be found inside a small six pointed star, typically on the reverse (back) of each coin, but sometimes the front. Therefore, the obverse date does not always reflect the actual date of mintage but rather a restriking of older obverse coin die designs. So, if the coin date shows 1959 up front but a tiny "64" is depicted in the six pointed star on the back, then the actual date of issue is in fact 1964 rather than the date depicted in front. This dating system would be abandoned in the early 1980s anticipating a one-by-one redesign of each coin denomination.

[[File:Pesetas fin siglo XX.jpg|thumb|Last editions of peseta coins (lacks Pts 500 coin) and [[1 euro coins|1-euro coin]] for size reference.]]

=== Decimal coinage of the monarchy ===

*No coins were issued by the short lived First Republic (1873–1874).

In 1869 and 1870, coins were introduced in denominations of 1, 2, 5, 10, 20, and 50 céntimos, and Pta 1, Pts 2, and Pts 5. The lowest four denominations were struck in copper (replaced by bronze from 1877), with the 20 cts, 50 cts, Pta 1 and Pts 2 struck in .835 silver and the Pts 5 struck in .900 silver. 5 cts and 10 cts coins were quickly nicknamed ''perra chica'' (small dog) and ''perra gorda'' (fat dog) respectively, as people then were unable to recognize the shape of the [[lion]] in them, mistaking it for a dog.<ref>[http://www.juntadeandalucia.es/averroes/colegiojabalquinto/expo5b.htm Jabalquinto School] {{Webarchive|url=https://web.archive.org/web/20131202221855/http://www.juntadeandalucia.es/averroes/colegiojabalquinto/expo5b.htm |date=2013-12-02 }}. [[Regional Government of Andalusia]].</ref> The Pts 5 coin was nicknamed ''duro'' (hard), referencing the old ''peso duro''. Pts 5 coins were called ''duros'' by every generation until the withdrawal of the peseta in 2002, and Spaniards would often informally account in that unit (e.g. using '20 duros' for Pts 100).

Gold Pts 25 coins were introduced in 1876, followed by Pts 10 in 1878. In 1889, Pts 20 coins were introduced, with production of the Pts 25 ceasing. In 1897, a single issue of gold Pts 100 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.

Starting in 1906 a new series of 1 ctm and 2 cts coins were issued in bronze. Due to a number of economic issues these were the only two coins from this series.

Coin production resumed in 1925 with the introduction of [[cupronickel]] 25 cts. In 1926, a final issue of silver 50 cts was made, followed by the introduction of a holed version of the 25 cts in 1927.

=== The Second Republic and Civil War period === [[File:1 peseta, 1937.jpg|thumb|''La Rubia'', Pta 1 coin from 1937]] In 1934, the [[Second Spanish Republic]] issued its first coins in the denomination of 25 cts and 50 cts and Pta 1. The 25 cts and silver Pta 1 were the same size and composition as the earlier Royal issues, whilst the 50 cts was struck in copper. In 1937 a 5 cts coin was struck in iron and a new Pta 1 in brass. An iron 10 cts coin was also produced in 1938 but never issued into circulation, unknown whether due to its close resemblance to the  5cts or because the government of issue fell before it could be released. All of these replaced symbols and images related to the monarchy. The brass Pta 1 was sometimes nicknamed ''La Rubia'' (The Blonde), as it featured a woman's face in a gold-coloured alloy.<ref>[http://www.muyinteresante.es/historia/articulo/diez-anos-sin-la-peseta Ten years without the Peseta] {{Webarchive|url=https://web.archive.org/web/20131031075607/http://www.muyinteresante.es/historia/articulo/diez-anos-sin-la-peseta |date=2013-10-31 }}, Muy Interesante magazine.</ref>

=== Coins of the Nationalist State and World War II periods ===

The Nationalists issued their first official coins in 1937. These were holed 25 cts featuring a rising sun and a clutch of arrows. These coins were minted in [[Vienna]]. A smaller copper 25 cts followed in 1938. Following the end of the [[Spanish Civil War|Civil War]] in 1939, the victorious Nationalist government introduced aluminium 5 cts and 10 cts in 1940 featuring a [[conquistador]], followed by reduced size aluminium-bronze Pta 1 coins in 1944 featuring the state crest and national symbols.

During the [[Spanish Civil War|Civil War]], a number of local coinages were also issued by both Republican and Nationalist forces. In 1936, the following pieces were issued by the Nationalists:

:{|class="wikitable" !District !Denominations |- |Cazalla de Sierra |10 cts |- |[[Arahal]] |50 cts, Pta 1, Pts 2 |- |[[Lora del Río]] |25 cts |- |Marchena |25 cts |- |La Puebla de Cazalla |10 cts, 25 cts |}

The following issues were made by Republican forces in 1937:

:{|class="wikitable" !District !Denominations |- |[[Arenys de Mar]] |50 cts, Pta 1 |- |[[Asturias]] and [[León (province)|León]] |50 cts, Pts 1, Pts 2 |- |[[Basque Country (autonomous community)|Euskadi]] (Basque Country) |Pta 1, Pts 2 |- |[[Ibi, Spain|Ibi]] |25 cts, Pta 1 |- |[[L'Ametlla del Vallès]] |25, 50 cts, Pta 1 |- |[[Menorca]] |5, 10, 25 cts, Pta 1, Pts {{frac|2|1|2}} |- |[[Nulles]] |5 cts, 10 cts, 25 cts, 50 cts, Pta 1 |- |[[Olot]] |10 cts |- |[[Cantabria|Santander]], [[Palencia]] and [[Burgos]] |50 cts, Pta 1 |- |Segarra de Gaià (currently [[Santa Coloma de Queralt]]<ref>{{cite web |url=http://www.stacqueralt.altanet.org/municipi/historia.php |title=Una mica d'història |author=Ajuntament de Santa Coloma de Queralt |access-date=25 April 2013 |archive-date=11 May 2013 |archive-url=https://web.archive.org/web/20130511042019/http://www.stacqueralt.altanet.org/municipi/historia.php |url-status=dead }}</ref>) |Pta 1 |}

=== Franco-era coinage ===

[[File:1000 Spanish pesetas.jpg|thumb|A Pts 1,000 banknote from 1957. The obverse shows [[Catholic Monarchs]] while the reverse shows the coat of arms of Spain under the Catholic Monarchs' rule.]]

The first Pta 1 coins bearing the portrait of [[Francisco Franco]] were issued in 1947. Cupro-nickel Pts 5 followed in 1949. In 1949, holed cupro-nickel 50 cts were introduced, followed by aluminium-bronze Pts {{frac|2|1|2}} in 1954, cupro-nickel Pts 25 and Pts 50 in 1958 and smaller aluminium 10 and 25 céntimos in 1959. Silver Pts 100 were issued between 1966 and 1969, with aluminium 50 céntimos introduced in 1967. In 1966 Franco's profile was redesigned to depict a more recent representation of the dictator.

In the sport of [[43-Man Squamish|43-man squamish]], developed in 1965 during the Francoist era and well before Spain's transition to the euro, gameplay commences with the toss of "a new Spanish peseta."<ref>''MAD'' #95 (June 1965), p. 21.</ref>

=== Restoration of democracy ===

When [[Juan Carlos I of Spain|Juan Carlos]] became king, there were a few changes: the replacement of Franco's portrait with that of Juan Carlos on the 50 cts and Pta 1 in 1975 and the addition of a cupro-nickel Pts 100 in 1976. 10 cts coins were discontinued. But there were bigger changes to each coin in 1982. Following this redesign the 50 cts was discontinued, and aluminium replaced [[aluminium bronze]] in the Pta 1. A Pts 2 coin was also introduced, featuring a map of Spain, though this denomination never became popular. More importantly, nickel-brass Pts 100 were introduced. The redesign centered around the [[1982 FIFA World Cup]] and depicted [[association football|football]]-related themes on the Pta 1, Pts 5, Pts 25, Pts 50, and Pts 100. Shortly afterwards, the large cupronickel Pts 100 was replaced by a smaller aluminium bronze coin, which also replaced the 100 ₧ banknote. A cupronickel Pts 10 was introduced in 1983, a denomination that had not been issued for many decades. This preceded a wholesale redesign in all circulating Spanish coins and abandonment of the "star" dating system. Cupronickel Pts 200 coins were introduced in 1986, followed by aluminium bronze Pts 500 in 1987.

In 1989 the biggest changes came. The size of the Pta 1 coin was significantly reduced. The Pts 2 coin was discontinued. Smaller aluminium bronze Pts 5 were introduced, and reduced aluminium bronze Pts 25 were also introduced which had a hole in the centre. Smaller Pts 50 coins were also issued the same year in cupronickel with the distinct [[Spanish flower]] shape that would eventually be used by many countries, most notably the 20-cent coin of the euro. At the same time, the Pts 200 coin was made larger and included an identifiable edge with [[incuse]] lettering. In 1999, a laser-etched hologram was added to the Pts 500 coin as a security feature to help discourage counterfeiting. During this period, all coins except the Pta 1 and Pts 500 went through a commemorative redesign each year, in a similar vein to the U.S. State commemorative quarters program, until they were discontinued in 2001 before the introduction of the [[euro]] common currency.

Until 19 June 2001, the following coins were minted by the Spanish [[Fábrica Nacional de Moneda y Timbre]]: :{|class="wikitable" ! Value !! Equivalent in [[Euro|euros (€)]] !! Diameter !! Weight !! Composition |-{{Coin-silver-color}} | Pta 1 || 0.006 (0.01) || 14 mm || 0.55 g || Aluminium |-{{Coin-yellow-color}} | Pts 5 || 0.03 || 17.5 mm || 3 g || Aluminum-bronze |-{{Coin-silver-color}} | Pts 10 || 0.06 || 18.5 mm || 4 g || Copper-nickel |-{{Coin-yellow-color}} | Pts 25 || 0.15 || 19.5 mm || 4.25 g || Aluminum-bronze |-{{Coin-silver-color}} | Pts 50 || 0.30 || 20.5 mm || 5.60 g || Copper-nickel |-{{Coin-yellow-color}} | Pts 100 || 0.60 || 24.5 mm || 9.25 g || Aluminum-bronze |-{{Coin-silver-color}} | Pts 200 || 1.20 || 25.5 mm || 10.5 g || Copper-nickel |-{{Coin-yellow-color}} | Pts 500 || 3.01 || 28 mm || 12 g || Aluminum-bronze |}

The Pts 50 coins issued between 1990 and 2000 were the first{{Citation needed|date=February 2007}} that featured the [[Spanish flower]] shape. {|class="wikitable" |+Spanish flower | [[File:50 pesetas 1992 barcelona 92 pedrera.png|200px]] | [[File:50 pesetas 1992 barcelona 92 sagrada familia.png|200px]] |}

=== Spanish euro coins === {{main|Spanish euro coins}}

Like all member nations, these coins come in denominations of 1, 2, and 5 cents in copper plated brass, 10, 20, and 50 cents in [[Nordic gold]], and bimetallic 1 and 2 euros with a common reverse design. The obverse of the first three denominations feature [[Cathedral of Santiago de Compostela]], the 10, 20, and 50 cents depict Spanish poet-writer [[Miguel de Cervantes]], and the 1 and 2 euros depict the effigy of King Juan Carlos I or King Felipe VI.

== Banknotes == {{main|Banknotes of the Spanish peseta}} [[File:100 pesetas of Spain 1953.jpg|thumb|''[[La Fuensanta]]'' on the reverse of Pts 100, 1953]] In 1874, the [[Bank of Spain]] (''Banco de España'' in Spanish) introduced notes for Pts 25, Pts 50, Pts 100, Pts 500 and Pts 1,000. Except for the Pts 250 notes only issued in 1878, the denominations produced by the Central Bank of Spain did not change until the Civil War, when both the Republicans and Nationalists issued Bank of Spain notes.

In 1936, the Republicans issued Pts 5 and Pts 10 notes. The Ministry of Finance (''Ministerio de Hacienda'') introduced notes for 50 cts, Pta 1 and Pts 2 in 1938, as well as issuing stamp money (consisting of [[postage stamp|postage]] or [[revenue stamp]]s affixed to cardboard discs) in denominations of 5 cts, 10 cts, 15 cts, 20 cts, 25 cts, 30 cts, 40 cts, 45 cts, 50 cts and 60 cts.

The first Nationalist Bank of Spain issues were made in 1936, in denominations of Pts 5, Pts 10, Pts 25, Pts 50, Pts 100, Pts 500, and Pts 1,000. Pta 1 and Pts 2 notes were added in 1937. From the mid-1940s, denominations issued were Pta 1, Pts 5, Pts 25, Pts 50, Pts 100, Pts 500, and Pts 1,000. The Pta 1, Pts 5, Pts 25, and Pts 50 were all replaced by coins by the late 1950s.

In 1978, Pts 5,000 notes were introduced. The Pts 100 note was replaced by a coin in 1982, with Pts 1,000 notes introduced in 1983, Pts 200 in 1984 and Pts 10,000 in 1987. The Pts 200 and Pts 500 notes were replaced by coins in 1986 and 1987.

The penultimate series of banknotes were introduced between 1982 and 1987 and the last series, dedicated to Spanish figures from the exploration of the Americas and introduced in 1992, remained legal tender until the introduction of the Euro.

{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;" ! colspan=11 | Penultimate series (1979–1985)<ref name=boec>{{Cite web|url=https://www.bde.es/bde/en/areas/billemone/Publico_general/Billetes_y_moned/ |title=Banco de España - Billetes de peseta canjeables |language=es |access-date=2025-04-15 |archive-date=2020-09-12|archive-url=https://web.archive.org/web/20200912034551/https://www.bde.es/bde/en/areas/billemone/Publico_general/Billetes_y_moned/|url-status=live}}</ref> |- ! rowspan=2 | Image ! rowspan=2 | Value ! rowspan=2 | Euro equivalent ! rowspan=2 | Dimensions (mm) ! rowspan=2 colspan=2 | Main colour ! colspan=2 | Description ! rowspan=2 | Issued from ! rowspan=2 | Lapse |- ! Obverse ! Reverse |- | style="background:#000; text-align:center;"|[[File:200pelas.JPG|75px]] | align="center"| 200 Pts | align="center"| €1.20 | align="center"| 120 × 65 | style="background:#FFC080;"| | Orange | [[Leopoldo Alas]] | ''[[Quercus orocantabrica]]'' | 16 Sep 1980 | rowspan=6 | 30 Jun 2021 |- | style="background:#000; text-align:center;"|[[File:500pelas.JPG|80px]] | align="center"| 500 Pts | align="center"| €3.00 | align="center"| 129 × 70 | style="background:#80C0FF;"| | Blue | [[Rosalía de Castro]] | de Castro's house | rowspan=2 | 23 Oct 1979 |- | style="background:#000; text-align:center;"|[[File:1000 pesetas del 79.jpg|85px]] | align="center"| 1000 Pts | align="center"| €6.01 | align="center"| 138 × 75 | style="background:#80C080;"| | Green | [[Benito Pérez Galdós]] | [[Roque Cinchado]] |- | style="background:#000; text-align:center;"|[[File:2000pelas.JPG|90px]] | align="center"| 2000 Pts | align="center"| €12.02 | align="center"| 147 × 80 | style="background:#FF8080;"| | Red | [[Juan Ramón Jiménez]] | Ayuntamiento, [[Moguer]] | 22 Jul 1980 |- | style="background:#000; text-align:center;"|[[File:5000pelas.JPG|95px]] | align="center"| 5000 Pts | align="center"| €30.05 | align="center"| 156 × 85 | style="background:#C0A080;"| | Brown | rowspan=2 | [[Juan Carlos I]] | [[Royal Palace of Madrid]] | 23 Oct 1979 |- | style="background:#000; text-align:center;"|[[File:10000pelas.JPG|100px]] | align="center"| 10000 Pts | align="center"| €60.10 | align="center"| 165 × 85 | style="background:#C0C0C0;"| | Grey | [[Felipe VI|Prince Felipe]]; [[El Escorial]] | 24 Sep 1985 |- ! colspan=11 | ''Spanish Discoveries'' series (1992) {{small|Designer: Reinhold Gerstetter}}{{r|boec}} |- | style="background:#000; text-align:center;"|[[File:1000pesetas.JPG|88px]] | align="center"| 1000 Pts | align="center"| €6.01 | align="center"| 130 × 65 | style="background:#80C080;"| | Green | [[Hernán Cortés]] | [[Francisco Pizzaro]] | 12 Oct 1992 | rowspan="4"| 30 Jun 2021 |- | style="background:#000; text-align:center;"|[[File:2000pesetas.JPG|92px]] | align="center"| 2000 Pts | align="center"| €12.02 | align="center"| 138 × 68 | style="background:#FF8080;"| | Red | [[José Celestino Mutis]] | [[Real Jardín Botánico de Madrid|Real Jardín Botánico de Madrid]] | 24 Apr 1992 |- | style="background:#000; text-align:center;"|[[File:5000pesetas.JPG|96px]] | align="center"| 5000 Pts | align="center"| €30.05 | align="center"| 146 × 71 | style="background:#C0A080;"| | Brown | [[Christopher Colombus]] | [[Armillary sphere]] | rowspan=2 | 12 Oct 1992 |- | style="background:#000; text-align:center;"|[[File:10000pesetas.JPG|100px]] | align="center"| 10000 Pts | align="center"| €60.10 | align="center"| 154 × 74 | style="background:#C0C0C0;"| | Grey | [[Juan Carlos I]] | [[Jorge Juan y Santacilla]] |- |colspan=12|{{Standard banknote table notice|AmE=yes}} |}

== Andorran peseta == [[File:Spagna 200 pesetas Madrid Capitale Europea della Cultura.JPG|thumb|Pts 200 – Madrid European Capital of Culture – 1992]] The Andorran peseta (ADP) (''pesseta'' in [[Catalan language|Catalan]]) was pegged at 1:1 to the Spanish peseta. Following the outbreak of the Spanish Civil War on 17 July 1936, the [[General Council (Andorra)|Andorran General Council]] issued Decree No. 112 of 19 December 1936, authorizing the issuance of paper money backed by Spanish banknotes.<ref name=":0">{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Andorra | edition = 1 | date = 20 January 2012 | location = San Francisco, CA | pages = 10 | url = http://www.banknotebook.com/ | access-date = 2012-04-27 | archive-date = 2015-09-23 | archive-url = https://web.archive.org/web/20150923031410/http://www.banknotebook.com/ | url-status = live }}</ref>

There are two issues of Andorran pesetas, known as the Blue issues and the Brown issues. Both issues are dated 19 December 1936 though the Brown issues were not issued until 19 December 1937. Both issues were withdrawn from circulation by 31 December 1938 and replaced with Spanish pesetas. None of the notes are signed.

All notes feature the coat of arms of Andorra on the front, along with text in Catalan indicating the value and issuer. On the back is the serial number and the issuing Decree in Catalan, in full on the Blue issues and in an abbreviated form on the Brown issues. Also on the back of the Brown issues is the coat of arms. {| class="wikitable" |+ ! colspan="5" |Consell General de les Valls d'Andorra<ref name=":0" /> |- !Issue !Denomination !Description !Size (mm) !# of notes |- | rowspan="4" |Blue issue |1 pesseta |Blue and purple |89 x 70 |10,000 |- |2 pessetes |Blue and orange |100 x 75 |5,000 |- |5 pessetes | rowspan="2" |Blue and green |122 x 80 |4,000 |- |10 pessetes |145 x 80 |1,000 |- | rowspan="5" |Brown issue |50 cèntims |Brown and olive |83 x 63 |20,000 |- |1 pesseta |Brown and orange |89 x 70 |15,000 |- |2 pessetes |Brown and blue |100 x 75 |5,000 |- |5 pessetes | rowspan="2" |Brown and green |122 x 80 |4,000 |- |10 pessetes |145 x 80 |2,000 |}

== Replacement by the euro == [[File:Última_2000_pesetas.JPG|thumb|Última peseta - Pts 2,000 circulating commemorative coin]] The peseta was replaced by the [[euro]] on 1 January 1999 on currency exchange boards. [[Euro coins]] and [[euro banknotes|notes]] were introduced on 1 January 2002, and on 1 March 2002 the peseta lost its legal tender status in Spain, and also in Andorra. The conversion rate was [[euro|€]]1 = Pts 166.386.

Peseta notes issued since 1939 and coins that were [[legal tender]] on 31 December 2001 remained exchangeable at any branch of the [[Bank of Spain|Spanish Central Bank]] until 30 June 2021.<ref>[http://www.bde.es/bde/en/secciones/servicios/Particulares_y_e/Canje_de_pesetas/ Peseta Exchanges.] {{webarchive|url=https://web.archive.org/web/20140221173920/http://www.bde.es/bde/en/secciones/servicios/Particulares_y_e/Canje_de_pesetas/ |date=2014-02-21 }} ''Banco de España'' (Bank of Spain).</ref><ref>{{Cite web|url=https://www.bde.es/bde/en/areas/billemone/Publico_general/Billetes_y_moned/|title=Banco de España - Banknotes and coins - Public - History of peseta coins and notes|access-date=2021-02-06|archive-date=2020-09-12|archive-url=https://web.archive.org/web/20200912034551/https://www.bde.es/bde/en/areas/billemone/Publico_general/Billetes_y_moned/|url-status=live}}</ref> According to that entity, as of March 2011 pesetas to a value estimated at €1.7 billion had not been converted to euros.<ref name="town">{{cite web |url=https://www.bbc.co.uk/news/world-europe-12657225 |title=Spain town reintroduces peseta to boost economy |author=Rainsford, Sarah |date=March 5, 2011 |work=[[BBC News]] |access-date=March 5, 2011 |archive-date=March 6, 2011 |archive-url=https://web.archive.org/web/20110306131029/http://www.bbc.co.uk/news/world-europe-12657225 |url-status=live }}</ref>

== See also == * [[Commemorative coins of Spain]] * [[Currency of Spanish America]] * [[Economy of Spain]] * [[Adoption of the euro in Spain]] * [[Spanish euro coins]] * [[Euro]] (since 1999) * [[European Union]] (since 1957) * [[Equatorial Guinean peseta]] * [[Latin Monetary Union]] (1865–1927) * [[Latin Union]] (since 1954) * [[Philippine real]] * [[Sahrawi peseta]]

== Notes == {{Notelist}} # {{note|1999}} 1999 by law (on financial markets and business transactions only), two currency units were used (the Spanish peseta still had legal tender on all banknotes, coins and personal bank accounts) until 2002.

== References == {{Reflist}}

==Bibliography== {{Refbegin}} * {{numis cite SCWC|date=1991}} * {{numis cite SCWPM|date=1994}} {{Refend}}

== External links == {{Commons category|Peseta}} * [http://news.bbc.co.uk/hi/english/static/in_depth/business/2001/euro_cash/spent_currencies/peseta.stm Overview of the peseta from the BBC] * [http://www.bde.es/billemone/peseta/ultemisioe.htm ''Banco de España'' (Bank of Spain): last peseta issues] * [http://www.bis-ans-ende-der-welt.net/Spanien-B-En.htm Historical banknotes of Spain] {{in lang|en|de}}

{{s-start}} {{succession box | before = [[Spanish escudo]] | title = Spanish currency | years = 1868–1999/2002{{ref|1999|1}} | after = [[Euro]] }} {{s-end}}

{{Currency signs}} {{Euro topics}}

[[Category:1868 establishments in Spain]] [[Category:2002 disestablishments in Spain]] [[Category:Currencies of Spain]] [[Category:Currencies of Andorra]] [[Category:Currencies replaced by the euro]] [[Category:Economic history of Spain]] [[Category:Economic history of Andorra]] [[Category:Coins of Spain]] [[Category:Currency symbols]]