22 | Spanish Banknotes

Automatically generated translation

500 Pesetas. January 23, 1925. Not Issued. No numbering. (Edifil 2021: NE22, Pick: 69A). Very rare especially in this quality. Uncirculated. PMG64 encapsulation.

After several attempts to produce banknotes again in the workshops of the Bank of Spain during the first two decades of the 20th century, with little success (issue of 1903-1905) or practically none during the time of Bradbury's dominance (notes not issued from 1908, 1914, 1915), the Bank's engravers made a last attempt to demonstrate their capabilities. The 1,000 peseta banknote of May 1907, despite formally fitting with the 1906-1907 issue and not with the 1907 reserve issue, was put into circulation as late as January 30, 1925. Barely a week Before that, the proof of 500 pesetas from 1925 appears dated with the image of Cardinal Cisneros. It is possible that the engravers' idea was to take advantage of the launch of a “national” banknote after two decades of English rule to give one last push to the original project of producing the banknotes in the Bank's workshops. But the reality is that on the same date, January 30, 1925, the 500 peseta bill of July 1907 also entered circulation, which would ruin the idea that Cisneros' bill would be successful. Perhaps they thought of using it as a reserve issue in anticipation of the acceptance of the famous “Angel”. The circumstances of this frustrated broadcast, which did not pass the testing phase, are therefore unclear. What does seem evident is that a few years later the same idea of ​​dedicating a bill to Cardinal Cisneros did have a happy ending. These 500 peseta proofs are quite rare and there are quite a few variants, with or without backgrounds and in different colors. Complete front and back color proofs like the one offered are much rarer.