It is a scarce item in this condition + scabbard even in Spain.

it is inspired by the classic falcata sword (not unlike the Greek machaira) used by the ancient Iberians.
Sometimes offered as Span-Am weapons, they were manufatured usually after 1916, were stocks of the previous longer, albeit flimsier, pattern 1881 machete were exhausted.
They held on in service until the end of the Spanish Civil War.
Although designed primarily for artillery troops, it was later extended to engineers and medical services (their primary use was as a tool for opening boxes, making improvised wooden items as stretchers and so forth).
It was such a sound design that in 1941 it started to be issued to all troops in the form of a bayonet. The falcata design clinged on until the CETME assault rifle was replaced not long ago.

The <<U>> printed on the guard means that the army demilitarized it and most probably sold it as junk during the sixties