1878 100-peseta banknote: what it is and what to do if you have one

If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 100 PESETAS and the date January 1, 1878, this is what you have: the banknote cataloged as Pick-15.

It is part of the January 1, 1878 issue: the Golden Age issue, and the only one in Spanish history to include a 250 peseta denomination.

Here you will find who or what appears on it, how to distinguish it from those that look like it, how to check if yours is original, and what to do if you want to sell it. You won't find prices here; I explain why below.

Garcilaso de la Vega: who is the face on this banknote

Garcilaso de la Vega (Toledo, c. 1501 - Nice, 1536) was a soldier for Emperor Charles V and, in the moments spare from war, the poet who introduced the Italian hendecasyllable into the Spanish language. He died at thirty-five from wounds received while storming a tower in Provence.

He wrote little—about forty sonnets, three eclogues—and with that, he changed Spanish metrics forever. On the banknote, he shares the obverse with a female allegory, in line with the entire 1878 issue: a real face from the Golden Age set against an ideal figure.

Banknote fact sheet

Face value	100 pesetas
Date of banknote	January 1, 1878
Pick catalog	P-15
Edifil catalog	to be confirmed
Printer	Banco de España workshop, Madrid
Mintage	400,000 copies
Dimensions	173 × 82 mm
Put into circulation	May 1882
Obverse	Bust of Garcilaso de la Vega facing left and an allegorical female portrait on the right
Reverse	Floral and geometric designs in violet, blue, and red

How to tell if yours is original

It is important to know this first of all, because far more reproductions than originals of Spanish banknotes from this era are in circulation: collector prints from the 1970s and 1980s, catalog facsimiles, and press reprints.

This banknote was engraved and printed at the Banco de España workshop in Madrid, using intaglio technique on linen paper. This leaves specific marks that a modern reproduction does not have:

• Relief to the touch. Run your fingertip over the portrait, the numbers, and the letters of the title: on an original, you can feel the raised ink. A facsimile printed in offset is completely flat.
• Engraved lines, not a dot pattern. With a 10x magnifying glass, the original portrait is rendered in fine, continuous lines. If you see a grid of dots, it is a modern print.
• Watermark in the pulp. When held up to the light, it should appear formed within the paper, not printed on top.
• Cotton linen paper, rough and crisp when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

• Measure it. This banknote measures 173 × 82 mm. Photographic copies almost always lose two or three millimeters, so a ruler settles many doubts in ten seconds.
• Check the exact motif. On the obverse — bust of Garcilaso de la Vega facing left and an allegorical female portrait on the right. On the reverse — floral and geometric designs in violet, blue, and red.
• Keep the mintage in mind. 400,000 copies were printed, but that was over 140 years ago and the vast majority were withdrawn and destroyed.

I will confirm it for you for free. If it turns out to be a reproduction, I will tell you just the same: I gain nothing by making you believe otherwise.

Original or facsimile? I'll tell you today, no strings attached
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

What makes it worth more or less

For this banknote, as with the entire 19th-century series, preservation is key, followed closely by repairs: a specimen that has been washed, pressed, has taped tears, or trimmed margins loses a great deal of value, even if it "looks better."

I do not publish price ranges, and here is why: value depends entirely on the specific specimen, and that cannot fit into a table. A generic figure from the internet only serves to cause disappointment. Send me photos and I will appraise your banknote, not "one like yours."

And before showing it to anyone: do not iron it, do not wash it, do not tape anything, and do not put it in soft PVC. All four things are irreversible. I explain this in detail in my guide to selling old banknotes.

How I buy it from you

You send me photos via WhatsApp—obverse, reverse, a detail of the numbering, and one held up to the light—and I will reply in less than 24 hours telling you what you have and, if I am interested, with a firm offer. I pay for shipping, and I transfer the payment the same day I receive and verify the piece; if it does not match the photos, I will return it to you at my own shipping expense.

I am Fran, from Iberoamericana Banknotes, a PMG authorized dealer. I can also appraise it just for insurance or inheritance purposes, without selling anything, and I can manage the PMG grading or consignment for you.

I buy throughout Spain, wherever you live, and the process is always this. If you are nearby, in any council in Asturias, I will come to your house to see it at no cost, and you can also bring it to my shop in Gijón, at Calle Cabrales 77, by appointment.

Frequently asked questions

Who is on the 100 pesetas banknote of 1878?
Garcilaso de la Vega. On the obverse — bust of Garcilaso de la Vega facing left and an allegorical female portrait on the right.

How many were printed?
The mintage was 400,000 copies. Be careful with a common confusion: a high mintage in the 19th century does not mean that many remain today. These banknotes were systematically withdrawn and destroyed, and what counts is how many survive, not how many were made.

How do I know if mine is an original or a reproduction?
The quickest way: look at the portrait with a magnifying glass (continuous engraved line on an original, dot pattern on a copy) and run your finger over the letters looking for relief. If you have any doubts, send me photos and I will tell you for free, even if it turns out to be a facsimile.

How much is the 1878 100 pesetas banknote worth?
It depends entirely on the specimen: preservation, margins, and any repairs change the price drastically. I do not give figures blindly because it would not be honest. With photos, I will tell you what yours is worth in less than 24 hours.

Do you buy it even if it is circulated or has defects?
Yes, as long as it is an original and has not been restored. For banknotes from this era, honest circulation is not a problem; what truly penalizes the value is repairs.

The other banknotes from this issue

• 50 pesetas banknote of 1878 — Calderón de la Barca
• 250 pesetas banknote of 1878 — Fernando de Herrera
• 500 pesetas banknote of 1878 — Pablo de Céspedes
• 1000 pesetas banknote of 1878 — Cervantes

Other 100 pesetas banknotes from the Banco de España

If you aren't sure which one you have, compare it with these: they are all 100 pesetas but from different issues.

• 100 pesetas banknote of 1874 — Juan de Herrera
• 100 pesetas banknote of 1875 — Athena
• 100 pesetas banknote of 1876 — Lope de Vega
• 100 pesetas banknote of 1880 — Quevedo
• 100 pesetas banknote of 1884 (January issue) — Mendizábal
• 100 pesetas banknote of 1884 (July issue) — Alejandro Mon
• 100 pesetas banknote of 1886 — Goya
• 100 pesetas banknote of 1889 — Goya (second issue)
• 100 pesetas banknote of 1893 — Jovellanos
• 100 pesetas banknote of 1898 — Jovellanos
• 100 pesetas banknote of 1900 — Quevedo
• 100 pesetas banknote of 1903 — "the stoker"
• 100 pesetas banknote of 1906 — the allegories with the lyre
• 100 pesetas banknote of 1907 — the Cathedral of Seville
• 100 pesetas banknote of 1925 — Philip II
• 100 pesetas banknote of 1928 — Cervantes
• 100 pesetas banknote of 1936 — the cathedral of Burgos
• 100 pesetas banknote of 1937 — General Castaños (the one that never circulated)
• 100 pesetas banknote of 1938 — the Lady of Elche
• 100 pesetas banknote of 1946 — Goya

General guide: selling old Banco de España banknotes. If you also have pesetas from other eras, here is which peseta banknotes and coins have value.

Send me a photo of the obverse and another of the reverse and I will tell you today what you have.
WhatsApp +34 644 54 98 79