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The peseta was introduced in 1869 after Spain joined the Latin Monetary Union in 1868. The Spanish Law of June 26, 1864 decreed that in preparation for joining the Latin Monetary Union , the peseta became a subdivision of the peso with 1 peso duro = 5 pesetas. The peseta replaced the escudo at a rate of 5 pesetas = 1 peso duro = 2 escudos. Was the currency of Spain between 1869 and 2002. The Banco de España started issuing these 1 Spanish Peseta banknotes in 1953. They were removal from circulation in 2002. The banknote of 1 una peseta shows the image of Marques de Santa Cruz, Spanish admiral.
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