1 | Spanish Banknotes

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500 Pesetas. April 1, 1880. No series. (Edifil 2023: 280, Pick: 22). Extraordinarily rare, minimally repaired, and with some normal erosion for this type of note, which in no way detracts from its rarity and importance. VF-. Encapsulated PMG15NET (repaired). (To give an idea of the rarity, as of November 1, 2024, only two notes are listed in the PMG register.)

The world of classic Spanish banknotes is a collector's dream. It's a collection of very rare and exclusive banknotes of remarkable beauty and appeal. Among all the banknotes produced in the 19th century, it's difficult to single out one for its rarity and beauty, as several share the throne of the rarest and most expensive. Given their low production and high denomination, the 500 and 1,000 peseta banknotes are always the most sought-after by advanced collectors of classic banknotes. Very few were produced, and even fewer have survived.

One of these rare examples is the 500-peseta banknote from 1880 dedicated to the painter Claudio Coello, extraordinarily rare and difficult to find in any quality. The chosen image of the painter is far from the supposed self-portrait of 1680. The hair and mustache are noticeably different. However, we don't really know what Claudio Coello looked like because the authorship and subject of that painting are disputed. The image on the banknote was taken from another work, and its attribution as a portrait of Claudio Coello is based on expert opinion and its similarity to another image in the frescoes of the Mantería Church in Zaragoza.

The reverse of this banknote is a mystery. The choice of mauve tones in the printing is certainly puzzling, as the design, which otherwise depicts a scene of what appear to be washerwomen in a stable or in the presence of horses, is not easily discernible. The origin of the painting is unknown and has nothing to do with the artist. Another curious fact about this issue is that the engravings were printed on the tarlatan, while on others it was left out.