Spanish 500 Pesetas Coin, 1987-1990 Series
Coin/Bullion · Fábrica Nacional de Moneda y Timbre (FNMT - Royal Mint of Spain), Madrid. Established in 1893, this mint is the official national producer of Spanish currency.
Pattern: Standard Circulation Spanish Peseta (Modern Series); Features the Spanish Coat of Arms and King Juan Carlos I (obverse).
Type
Coin/Bullion
Maker
Fábrica Nacional de Moneda y Timbre (FNMT - Royal Mint of Spain), Madrid. Established in 1893, this mint is the official national producer of Spanish currency.
Material
Aluminum-Bronze (CuAl6Ni2); This coin contains no silver. Traditionally, higher-denomination Spanish coins like the 2,000 Pesetas were silver, but the 500 Pesetas circulation coin was always a base metal alloy.
Dimensions
Diameter: 28.00 mm; Thickness: 2.80 mm; Weight: 12.00 grams. This is a large, thick 'chunky' coin compared to US or UK denominations.
Description
A high-denomination circulation coin from the pre-Euro Spanish era. It features a golden-hued aluminum-bronze alloy, giving it a substantial weight and appearance of value despite its lack of precious metal content. The reverse displays the sophisticated architectural elements of the Spanish Coat of Arms.
Key Features
Interrupted reeded edge, crowned 'M' mint mark, '500 Pesetas' denomination, and the distinct 'Plus Ultra' banner on the Pillars of Hercules.
Material & Composition
Aluminum-Bronze (CuAl6Ni2); This coin contains no silver. Traditionally, higher-denomination Spanish coins like the 2,000 Pesetas were silver, but the 500 Pesetas circulation coin was always a base metal alloy.
Finish & Decoration
Die-struck matte finish with raised relief. Features the Spanish Royal Coat of Arms (crowned shield flanked by the Pillars of Hercules) and the word 'ESPAÑA'. Ornamental border with vertical milling.
Hallmarks & Stamps
Mint mark 'M' with a crown (the symbol for the Madrid Mint). No silver purity hallmarks are present because the item is a base metal alloy.
Construction Details
Industrial die-struck production. The planchet is mechanically punched from a sheet of alloy and then pressed with high-tonnage dies.
Functional Features
Standard currency; Replaced by the Euro in 2002. Features a unique interrupted-milling edge (reeded sections split by smooth sections) to aid the visually impaired.
Handle & Grip Details
None; Circular numismatic form intended for handheld exchange.
Craftsmanship Details
High-quality industrial minting. The alignment of the dies is centered, and the striking pressure was sufficient to render the intricate details of the shield and crown.
Authentication Indicators
The 'M' crown mint mark is consistent with authentic FNMT production. The relief height and Font style for 'ESPAÑA' are correct for the period.
Origin & Manufacturing
Madrid, Spain; Manufactured by the state mint following national monetary standards.
Era & Period
Modern Spain (Constitutional Monarchy); Part of the final currency series before the adoption of the Euro.
Age Estimate
Circa 1987-1990. While the specific date is on the obverse (not pictured), this design was minted starting in 1987.
Cultural Significance
Represents the economic stability of Spain after the Transition to Democracy and its integration into the European economic community.
Condition Notes
Good to Very Good circulation wear. Visible surface scratches (bag marks) and edge nicks. Notable tarnish/patina typical of aluminum-bronze which darkens to a duller brown-gold over time.
Value Estimate
Face value is roughly equivalent to €3.01 (historical exchange), but it is no longer legal tender since the exchange deadline passed. Numismatic value is $1.00 - $3.00 USD.
Care & Maintenance
For base metal coins, avoid acidic cleaners. Light soap and water are sufficient. Do not use silver polish as this is not silver and the chemicals may cause spotting on the bronze alloy.
Similar Pieces
1990s 2,000 Pesetas (which is .925 Sterling Silver), 100 Pesetas (smaller aluminum-bronze), and the current 2-Euro coin.
Interesting Facts
The 500 Pesetas coin was a high-value coin at the time of its release, roughly equivalent to 3-5 USD in the late 1980s. It was colloquially replaced by banknotes in certain regions because of its weight.