Curious facts about the peseta that will surprise you

June 30 is the last day to change pesetas to euros at the Central Bank of Spain, so it is a good time to learn some of the most curious and interesting facts about the peseta . Its origin dates back to October 19, 1869, when it became the legal tender in Spain and its overseas territories. It was in circulation until December 31, 2001, and then provisionally until February 28, 2002.

Source

There are different theories about the origin of the name. One of the most accepted is the one that dates back to the time of colonization . The Spanish brought from the “New World” silver coins of “good weight and great purity” which they called pesos, which could have derived in the word peseta over the years.

First banknotes

Despite the fact that the peseta was the legal tender in Spain since the end of 1869, the first banknotes were not printed until July 1, 1874. They had the following values: 25, 50, 100, 500 and 1,000 pesetas . Their value was very high at that time, so that they could only be handled by banks. Only two million of the first series were issued.

Fat bitch

Since 1870, the company Oeschger, Mesdach & Cía, based in Barcelona, could manufacture all the copper coins in Spain . The 10-cent coin earned the nickname “fat bitch” for a curious reason to say the least. On the obverse there was a figure of a lion holding the country’s coat of arms, but people believed that it was a dog.

25 pesetas

One of the coins that we remember the most is the 25 pesetas, with its characteristic central hole . It was the way to differentiate them from the old 25 and 50 cent coins. The last one was made in 2000.

Civil war

The country’s economy collapsed during the Civil War, and with it the peseta. The devaluation was staggering, to the point that the Bank of Spain was forced to print 50 cent, 1,2, 5 and 10 pesetas notes .

More than 1,500 million euros not exchanged

According to data from the Bank of Spain, after June 30 there will be more than 1,500 million euros in unchanged pesetas notes and coins . There are those who keep them as collectibles, although experts point out that 99% of the pesetas issued from the first half of the 20th century will have no value in the near future.

Which of the curious facts about the peseta has surprised you the most?