T he Spanish peseta was introduced in preparation for Spain joining other European nations in the Latin Currency Union. The peseta was introduced into circulation at the rate of 5 pesos to 1 peseta. This allowed Spain to abandon the Spanish real and escudos currencies. The Spanish peseta was valued at just under 0.3 grams of Gold during the Gold standard. Spain took the peseta off the Gold standard in 1883 which saw the peseta fall below parity with the French Gold Franc

The Gold peseta was struck in 10, 20, 25 and 100 denominations. The first gold peseta coin to be struck was the gold 25 peseta in 1876 with the 10 peseta issued a year later. Production of the Gold 25 peseta was stopped in 1889 to allow for the new Gold 20 peseta coin to take its place. A Gold 100 peseta was released in 1897, making this one of the rarer European Gold one-year types for collectors to source. Production of all Spanish Gold pesetas was stopped in 1904 as the currency was replaced by base metals and paper bank notes