The last 1 peseta banknote printed in 1953, featuring the Marquis of Santa Cruz and a galleon, is causing a frenzy among collectors who are paying thousands on digital platforms.
The 1 peseta banknote issued by the Bank of Spain in 1953 has gone from being an everyday means of payment to becoming a highly sought-after asset on the numismatic market. Its presence on trading platforms and auction houses has sparked growing interest, with prices in some cases reaching €20,000.
The determining factor in this revaluation is scarcity. Its withdrawal from circulation and the lack of well-preserved examples have made this banknote a unique item for collectors. What was once of little value is now considered an alternative investment with the potential to far exceed its face value.
A design steeped in history
The front of the note features a portrait of the Marquis of Santa Cruz, Álvaro de Bazán, a 16th-century sailor who represented Spanish naval greatness. The reverse shows a galleon, symbol of the Armada in the age of discovery and transoceanic trade.
Beyond its economic value, many collectors seek in this banknote the symbolic significance of a historical period. To hold it in your hands is to hold a fragment of Spain’s memory.
From the peseta to the coin
The 1953 print run was the last low-value paper issue before the peseta became solely a coin. With this change, the banknotes began to disappear from everyday life and were stored in drawers, collectors’ albums or, in many cases, lost over time.
This transition from banknote to coin explains, in part, why the few examples preserved in good condition arouse so much interest among numismatics enthusiasts.
A booming market
Today, on specialised websites, the estimated value of this banknote is around €225, provided it is in average condition. However, the fever is heating up on sites such as eBay, where some sellers have set prices as high as €20,000.
Not all pieces reach such exorbitant figures, but the mere possibility that a seemingly insignificant banknote could multiply its value by thousands makes this market fertile ground for surprises.
Highly sought-after rarities and errors
Numismatic experts insist that banknotes with printing defects or manufacturing peculiarities become real magnets for collectors. A tiny detail can make the difference between an ordinary banknote and an exclusive gem. Such rare characteristics mean that some banknotes far exceed their average market price. Rarity, in this sector, is always in high demand.
The digitisation of payments has relegated cash to an increasingly marginal role. Most consumers have become accustomed to contactless payments, online banking and instant transfers. However, at the same time, there has been a growing interest in hoarding old banknotes, as if they were tangible souvenirs of a disappearing world. This phenomenon explains why old banknotes are finding new admirers beyond traditional collectors. For many, they have become objects of nostalgia and an alternative store of value.
Checking drawers can lead to a surprise
The experts’ recommendation is clear: it is a good idea to check family drawers, albums and storage rooms. You never know when a valuable specimen might turn up among old papers or forgotten boxes.
If you find a banknote of this type, the best option is to go to a numismatic specialist to have it valued. This appraisal will allow you to know its real condition, estimate its value and decide whether it is worth keeping or putting it on the market.
The appeal of the unexpected
The magic of this 1953 banknote lies in its ability to transform an object that once barely bought a cup of coffee into a collector’s item that today can fetch unimaginable sums. It is a reminder of how time, history and scarcity can turn the everyday into the extraordinary.
In short, this banknote is not only of economic value. It represents the memory of a country, the fascination of those who seek relics of the past and the thrill of discovering a treasure hidden in the most unexpected corner of the house.
From a simple coin to a luxury item
The numismatic market does not only thrive on interest in old banknotes. There are also coins that have become highly valuable items. One example is the 1 euro coin minted in Slovakia in 2009, which is different from the 1953 1 peseta banknote but equally attractive to collectors. Some examples, in perfect condition and with special characteristics, have been sold at auction for more than €40,000, multiplying their face value enormously.
Beyond the price, the fascination of collectors can be explained by the context in which the coin appeared: the introduction of the euro in Slovakia after abandoning the Slovak koruna. This change marked a turning point in the country’s history and made this coin a material testimony to its full integration into the European Union.
A design full of symbolism
The coin is bimetallic, with a nickel-brass ring and a cupronickel core. It weighs 7.5 grams and measures 23.25 millimetres in diameter, identical in size to any standard euro coin. However, what distinguishes it and attracts collectors is its obverse: the national coat of arms of Slovakia, with the double cross standing on three hills representing the Tatra, Fatra and Mátra mountains. It is the work of engraver Ivan Řehák, whose initials appear discreetly on the coin.
According to the specialist website Foronum, the usual price of this coin is just over €7, depending on its condition. But the figures skyrocket at auctions and on trading platforms, where certain examples have reached €45,000. The rarity of the minting, the impeccable condition and possible minting errors are factors that multiply its value to unimaginable figures.
Key points
- The 1953 1 peseta banknote was the last low-value paper issue in Spain.
- Its design features the Marquis of Santa Cruz on the front and a galleon on the back.
- On specialised websites, it is valued at around €225, but on eBay, copies are offered for up to €20,000.
- Its rarity and printing errors have sparked the interest of collectors.
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