Spanish currency: from real to euro. Coins of Spain

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Spain is a large state in Southern Europe, within the Iberian Peninsula. The country can be proud of its history and rich cultural heritage. No less interesting are the money and coins of Spain, as well as the history of the development of the national currency of this ancient state.

Spanish currency: from real to peseta

In 2002, the country joined the so-called Eurozone. But not everyone knows the name of the Spanish currency before the euro…

In general, the evolution of the Spanish monetary currency went through the following chain: real - escudo - peseta - euro. Real was put into circulation in the XIV century by King Pedro the First. This monetary unit has been in the status of the main currency of the Spanish kingdom for five centuries in a row. The real was equal to three maravedis (older Iberian coins).

Real was replaced by escudo in 1864 (in Spanish, escudo means “shield”). These coins were minted in both gold and silver. Over the years, one escudo corresponded to a certain amount of reais.

From 1869 to 2002 throughoutSpain used pesetas. They were made of various metals and alloys (aluminum, bronze, copper, nickel and others). The word peseta itself is translated from Spanish as "a piece of something." One Spanish peseta was divided into 100 centimos.

In the summer of 1874, the first paper banknotes were printed in Spain. These were denominations of 25, 50, 100, 500 and 1000 pesetas. At first, the number of paper banknotes was limited, so only banks and some financial institutions were allowed to use them.

Euro is the modern currency of Spain

In 2002, the peseta ceased to exist officially. The euro was introduced in the country. The reverse of all these coins is traditionally the same for all countries of the Eurozone. But the obverse in each state is drawn up in its own way. On modern coins of Spain you can see the face of King Felipe VI, the Cathedral of Santiago de Compostella, revered by thousands of pilgrims, as well as the image of the writer Miguel Cervantes.

By the way, if one of the inhabitants of this beautiful sunny country still has pesetas in his hands, he can freely exchange them in a bank and get running euros.

It should be noted that not all Spaniards agreed with the transition to the euro. They are still very kind to their old currency. For example, in the town of Estepona in the south of the country, they even erected such a monument in honor of the peseta.

Coins of Spain

Starting from 1869, pesetas and centimos were minted centrally in the state. Some coins of Spain from this period are of great value.among numismatists.

For example, many collectors are interested in coins from the Civil War (late 1930s). During this historical period in Spain, each of the armies issued its own money (there were 15 types in total). Of interest to numismatists are coins depicting the Spanish dictator Francisco Franco from the 1940s and 1950s.

Spanish coins are distinguished by a rather interesting and diverse set of drawings and images. On their "body" you can see armorial shields, sailboats and anchors, olive branches, gears and grapes.

The football theme did not bypass the coins of this country. Still would! After all, the Spanish national football team is one of the strongest in the modern world. So, on the coins of 1982, you can see images of balls and football goal nets. It was this year that Spain hosted the World Cup.

In closing

Real, escudo, peseta, euro… That was the historical evolution of the Spanish national currency. The very first coin in this country was minted 2.5 thousand years ago. The first paper money in Spain was printed in 1874. Many coins of Spain are objects of interest for numismatists.