1925 100-peseta banknote (Philip II): what it is and whether yours is worth anything

If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 100 PESETAS and the date July 1, 1925, this is what you have: the banknote cataloged as Pick-69.

It is part of the 1925 issue, printed in England by Bradbury Wilkinson during the reign of Alfonso XIII. Two banknotes were released: the 100 pesetas note, featuring Philip II, and the 1000 pesetas note, featuring Charles I. A third one was planned, a 500 pesetas note featuring Cardinal Cisneros, which was never issued: only printing proofs of it exist.

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

Philip II: who is the face on this banknote?

Philip II (Valladolid, 1527 - San Lorenzo de El Escorial, 1598), son of Charles I and King of Spain for more than forty years. The obverse features his portrait alongside the Monastery of El Escorial, the great building he ordered to be erected.

The reverse reproduces the painting The Chair of Philip II, by Luis Álvarez Catalá: the scene of the king contemplating the construction of El Escorial from the site that bears that name today.

Banknote fact sheet

Face value 100 pesetas
Banknote date July 1, 1925
Pick catalog P-69
Printer Bradbury Wilkinson & Co., New Malden (England)
Series No series and series A to G
Signatures Carlos Vergara Cailleaux, Adolfo Castaño Orejón and Bonifacio Burgos Delgado
Obverse Philip II and the Monastery of El Escorial
Reverse "The Chair of Philip II", painting by Luis Álvarez Catalá

How to tell if yours is an original

Many original copies of this banknote have been preserved, but there are also reproductions in circulation: collector's prints from the seventies and eighties, catalog facsimiles, and press reprints. It is best to rule this out first.

This banknote was printed in England by the house of Bradbury Wilkinson, one of the world's great banknote printers, using intaglio (steel engraving) technique. This leaves specific marks that a modern reproduction does not have:

  • Raised ink. Run your fingertip over the drawing, the figures, and the letters of the title: on an original, you can feel the raised texture of the ink. An offset-printed facsimile is completely flat.
  • Engraved line, not a dot matrix. With a ten-power magnifying glass, the original engraving is resolved into 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, the watermark should appear formed within the paper, not printed on top.
  • Banknote paper, not photocopier paper. The original is a durable, substantive paper that makes a sound when shaken. Modern coated paper is smooth and cool to the touch.

Specific checks for this banknote

  • Check the exact motif. On the obverse — Philip II and El Escorial. On the reverse — the painting "The Chair of Philip II".
  • Look for the dry seal. Some specimens have an embossed, inkless seal in the upper left corner: this is the validation performed by the Second Republic in 1931 so that they could continue to circulate. It can be seen with the naked eye and felt when you gently run your fingers over it. With and without the seal are distinct catalog variants.
  • Beware of added seals. Republican dry seals on banknotes from series after B are considered forgeries: someone added them later to make the banknote appear to be the more sought-after variant.
  • Check the series and numbering. Those from series A to C, and those from series D up to number 2,000,000, are from before the war; those from series D from 2,000,001 onwards up to series F were put into circulation afterward. Of series G, 5 million were printed, but they never circulated and none are known to exist.

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

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

Is your banknote worth anything? Most likely not

I'm telling you clearly, because it's what I'm asked the most: there are tons of these banknotes. They were printed by the millions, they circulated for years, and many, many families kept one in a drawer. With rare exceptions, only those in perfect condition have value: no stains, no folds, no tears, and no worn corners. Most likely, yours, if it has circulated, is worth nothing or almost nothing.

To know if it is truly perfect, look at it under tangential light: turn off the ceiling light, place a lamp or a window light from the side, almost grazing the banknote, and tilt it slowly. This is how creases, fold marks, and ironed areas—which you can't see from the front—appear. A banknote that looks new to the naked eye often has a fold in the center.

What can change things for this banknote is the variant: with or without a dry seal (and whether the seal is authentic), and the series. But even in the good variants, a folded or stained specimen is worth very little.

I do not publish price ranges, and I'll explain why: the value depends entirely on the specific specimen, and that cannot fit in 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 stick anything on it with tape, and do not put it in soft PVC. All four things are irreversible. I explain this in detail in the guide to selling old banknotes.

How I buy them from you

If yours is perfect, or is one of those exceptions, the process is simple.

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

I'm 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.

You don't need to live nearby: I buy throughout Spain using this same system. And if you are from Asturias, I can come to your house without charging you for the visit, or we can meet at my store in Gijón, on Calle Cabrales 77, by appointment.

Frequently asked questions

Who is featured on the 100 pesetas banknote of 1925?
Philip II, alongside the Monastery of El Escorial. The reverse features the painting "The Chair of Philip II", by Luis Álvarez Catalá.

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

How much is the 100 pesetas banknote of 1925 worth?
Most likely, little or nothing. Many of these banknotes have been preserved and, with rare exceptions, only perfect specimens have value: without stains, folds, or tears. Look at it under tangential light, a light from the side that grazes the banknote, to see if it has folds. If it is perfect, send me photos and I'll tell you what it's worth.

Do you buy it even if it has been in circulation?
Usually no. There are so many of these banknotes that a specimen with folds, stains, or tears has no outlet among collectors. I am only interested in those that are perfect or rare variants. If you are in doubt, send me photos and I will tell you without any obligation.

The other banknotes in this issue

Other 100 pesetas banknotes from the Bank of Spain

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

General guide: selling old Bank of Spain 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'll tell you today what you have.
WhatsApp +34 644 54 98 79

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Yo cobro un porcentaje de la venta, así que cuanto mejor la vendo, más ganas tú. La contrapartida es el tiempo: encontrar al comprador que más paga lleva más que una compra directa. Por eso es ideal si no tienes prisa por vender.

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