13 | Spanish Banknotes

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100 Pesetas. August 21, 1905. Without numbering, without cashier's signature and "VOID" hole (as is usual on this bill). (Edifil 2021: NE12, Pick: Not catalogued). Very rare, especially in this quality. Good Extremely Fine. PMG55 encapsulation (previously mounted).

In an attempt to regain control of the issuance of banknotes according to the General Plan established by the engineer Luis Marín, it was decided around 1905 to put into issue more 100 peseta banknotes with the 1903 model, that of Fogonero, but changing the date of broadcast and making some engraving adjustments to improve sharpness. The banknote was approved by the Bank Council in a session on March 5, 1906, although it was requested that the obverse be Prussian blue. Given that these banknotes were easily counterfeited due to their not too complex and monochromatic design, it is assumed that, despite the approval, this effort was finally discarded in favor of testing the international market in search of prestigious suppliers that provided greater security measures. . In fact, the contract with Bradbury was only a few months later, which led to Marín's resignation weeks later.

Finding a complete copy of this bill, coming from a 2 x 2 sheet cut by manual tearing, is something extraordinary. Very few complete proofs are known, probably less than five, some of them in black. This copy offered at auction seems to be a color test, since the obverse uses bistre tones and the reverse uses Prussian blue on a yellow background, resulting in a quite successful combination. We do not know the color approved by the Bank for the reverse, but it is conceivable that the color of this specimen would be very similar to the one chosen for the obverse.