Circulating Coins
Crowned M

Peseta(s): 1, 5, 10, 25, 50, 100, 200, 500
On January 1, 1999, the European Monetary Union introduced the euro as a common currency to be used by the financial institutions of member countries; Three years later, on 1 January 2002, the euro became the sole currency for everyday transactions with the member countries

Spain's powerful world empire of the 16th and 17th centuries ultimately yielded command of the seas to England. Subsequent failure to embrace the mercantile and industrial revolutions caused the country to fall behind Britain, France, and Germany in economic and political power. Spain remained neutral in World Wars I and II, but suffered through a devastating civil war (1936-39). In the second half of the 20th century, Spain has played a catch-up role in the western international community; it joined the EU in 1986. Continuing challenges include Basque Fatherland and Liberty (ETA) terrorism and further reductions in unemployment.

Borders Andorra 63.7 km, France 623 km, Gibraltar 1.2 km, Portugal 1,214 km, Morocco (Ceuta) 6.3 km, Morocco (Melilla) 9.6 km
Economy Population: 40,341,462 (July 2004 est.)
GDP per capita: $ 23300

The Fabricia Nacional de Moneda y Timbre was created on the 29th of August of 1893, when the Royal Mint and the Government-operated enterprise for stamp manufacturing were united into one organization. Today, the FNMT is a legally autonomous institution governed by a Board of Directors. The Board is made up of General Directors from the Treasury Department and from related institutions such as the Banco de Espana, the Home Office and the General Post Office. The chairman of the board is also the General Director of the FNMT.

The FNMT produces banknotes, coins, passports, identity cards, postage stamps, drafts, game tickets (football, pools, bingo, etc.), government publications, medals and securities. The Fabrica, headquartered in Madrid, also operates the Paper Mill in Burgos. The mill produces superior quality papers with advanced security features that have earned it a worldwide reputation for excellence.

The FNMT also operates a world renowned Numismatic Museum which traces its origins to the didactic collections of the Engravers School of the XVIII century. The Museum, with its collection of coins, medals, bank-notes, stamps, dies, machinery, engravings, sketches, sealed paper and book, is a fascinating experience for both amateurs and specialists.

1996 Uncirculated collection: obverse and reverse

For further information, contact the Fabrica Nacional de Moneda y Timbre, Calle de Jorge Juan, 106-28009 Madrid, Espana. Web: Telephone: 4096343, telex: 46707 FNMYT E, telefax: 5042943