Currency of Spain: from real and peseta to euro

Spain, once the greatest Empire of not only Europe but the whole world, knew in its history both dizzying ups and periods of deep economic depression. But for many centuries the national currency of Spain has demonstrated tremendous stability, secured by the gold of overseas colonies (mainly South American).

The beginning of Spanish rule on the seas and on land was put by the Reconquista, which ended in 1492. It was she who proclaimed the birth of the new political force of Europe, which was destined to become the main protagonist of the sixteenth-century European history, when the new Empire grew and consolidated at the expense of its overseas possessions, relentlessly increasing its economic and military potential, and also gaining great political weight.

During this period, the Spanish currency - real, which remained the main monetary unit of the country from the middle of the fourteenth century to the year 1864, was valued in the expanses of the Old World, just as the dollar is now. The military and political might of the Spanish crown maintained the real rate at the proper level. During this long historical period, the various currencies of Spain were minted. The most famous at that time was the so-called "real 8" - a coin worth eight realties, which appeared in the late fifteenth century.

Due to its wide distribution in the American continent and even in Europe, this coin can rightfully be considered the world's first real international (convertible) currency. Curious and the fact that on the Iberian Peninsula, in the heart of the empire, the real for several centuries peacefully coexisted with other Iberian currencies. For example, with the gold escudo, which was circulated between 1535 and 1833, or with the Moorish coin of Moravedi adopted by various Christian kingdoms.

In 1864, Spain's centuries-old currency was replaced by a new silver escudo. True, this monetary unit did not last long. Already in 1868 the new currency of Spain, which joined the Latin Currency Union, under the terms of which free circulation of European monetary units was provided in the territory of the member countries, was peseta.

And until January 1, 2002, any resident of the country, responding to a question about what currency in Spain, could safely call the peset - with the accession to the Spanish financial throne pesetas, other currencies were abolished. The last series of minted metal pesetas were coins with the nominal value of 1, 5, 10, 25, 50, 100, 200 and 500. As for paper banknotes, they were issued in the following dignity: 200, 500, 1000, 2000, 5000, 10000 pesetas.

The currency exchange rate in Spain today differs little from the other states of the Eurozone. This is not surprising - this Pyrenean state is an integral part of the European Community, each member of which has the right to print the unified currency for their own needs. In this case, before the serial number, you must specify your own letter, according to which the notes differ. Spain is given the letter V. Euromoney is also highly individual for each state. The smallest Spanish coins are made of steel, covered with a copper shell.

A coin with a denomination of two euro cents has a special rib on the rib, and the rest are made of a special copper alloy containing aluminum, zinc and tin. Externally, the coins of these denominations can be distinguished by the presence of a transverse relief strip. At large denominations of one and two euros, individual patterns are minted, and they also have special small corrugations.