1928 100-peseta banknote (Cervantes): 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 August 15, 1928, this is what you have: the banknote cataloged as Pick-76.

It is part of the August 15, 1928 issue, the last major series dated from the reign of Alfonso XIII: five banknotes printed by Bradbury Wilkinson and dedicated to great figures of Spanish history and culture (Calderón, Velázquez, Cervantes, Cisneros, and Ferdinand III). Several did not reach circulation with the King: they were released onto the streets during the Second Republic, and in enormous quantities.

Here you will find who or what appears on it, how to distinguish it from similar ones, how to check if yours is an original, and what to do if you want to sell it. You will not find prices here: I explain why further down.

Miguel de Cervantes: who is the face on this banknote

Miguel de Cervantes (Alcalá de Henares, 1547 - Madrid, 1616), the author of Don Quixote. His portrait appears on the obverse, next to the Cervantes monument in the Plaza de España in Madrid.

The reverse reproduces the painting Don Quixote's Meeting with the Duke and Duchess, by Luis Menéndez Pidal.

Banknote Fact Sheet

Face value 100 pesetas
Banknote date August 15, 1928
Pick catalog P-76
Printer Bradbury Wilkinson & Co., New Malden (England)
Series No series and series A
Signatures Carlos Vergara Cailleaux, Adolfo Castaño Orejón, and Bonifacio Burgos Delgado
Obverse Miguel de Cervantes and his monument in the Plaza de España in Madrid
Reverse "Don Quixote's Meeting with the Duke and Duchess", painting by Luis Menéndez Pidal

How to tell if yours is original

Many originals 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 worth ruling this out first and foremost.

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

  • Relief to the touch. Run your fingertip over the drawing, the numbers, and the letters of the title: on an original, you can feel the raised ink. An offset-printed facsimile is completely flat.
  • Engraved line, not dot matrix. With a ten-power magnifying glass, the original engraving resolves into fine, continuous lines. If you see a grid of dots, it is a modern print.
  • Watermark in the paper. When held up to the light, the watermark should appear to be formed within the paper, not printed on top.
  • Banknote paper, not photocopy paper. The original is resistant, substantial paper that makes a sound when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

  • Check the exact design. On the obverse — Cervantes and his monument in the Plaza de España. On the reverse — Don Quixote with the Duke and Duchess.
  • Although it is dated 1928, it circulated during the Republic. This is normal: this banknote only entered circulation during the Second Republic.
  • Do not confuse it with the 1925 one. The 100 pesetas banknote from 1925 features Philip II and El Escorial. This one, from August 15, 1928, features Cervantes.

I will confirm it for you for free. If it turns out to be a reproduction, I will tell you 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

Is your banknote worth anything? Most likely not

I am being direct, because it is what I am asked most often: there are tons of these banknotes. They were printed by the millions, circulated for years, and many families kept one in a drawer. Except for rare exceptions, only those in perfect condition have value: no stains, no folds, no tears, and no worn corners. The most common scenario is that yours, if it has circulated, is worth nothing or almost nothing.

To find out if it is truly perfect, look at it under tangential light: turn off the ceiling light, place a lamp or light from a window to the side, almost grazing the banknote, and tilt it slowly. This reveals the folds, the marks of having been folded, and pressed-out areas that cannot be seen from the front. A banknote that looks new at first glance often has a fold in the center.

It is one of the most common old banknotes found in homes. It is very affordable: examples in good condition can be obtained for very little. Only one that is truly perfect, without a single fold, holds interest for a collector.

I do not publish price ranges, and I will explain why: the value depends entirely on the specific specimen, and that does not fit in a table. A generic figure from the internet only leads to disappointment. Send me photos and I will value 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 detail of the serial number, 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 the 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 expense.

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

You don't need to live nearby: I buy all over Spain using this same system. And if you are from Asturias, I can come to your home without charging for the visit, or we can see it at my shop in Gijón, at Calle Cabrales 77, by appointment.

Frequently Asked Questions

Who is featured on the 100 pesetas banknote from 1928?
Miguel de Cervantes, next to his monument in the Plaza de España in Madrid. The reverse shows the painting "Don Quixote's Meeting with the Duke and Duchess", by Luis Menéndez Pidal.

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

How much is the 100 pesetas banknote from 1928 worth?
Most likely little or nothing. Very many of these have been preserved and, except for rare exceptions, only perfect specimens have value: no 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 will tell you what it is worth.

Do you buy it even if it has circulated?
Usually no. There are so many of these banknotes that a specimen with folds, stains, or tears has no market among collectors. I am only interested in those that are perfect or rare variants. If in doubt, send me photos and I will tell you with no strings attached.

The other banknotes in this issue

Other 100 pesetas banknotes from the Bank of Spain

If you aren't sure which one you have, 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 periods, 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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Además de comprártelo, puedo venderlo por ti en consignación. Es la forma de sacar más dinero por tu colección: la ofrezco a los compradores que más pagan por cada pieza, porque llevo diez años construyendo una base de datos de compradores segmentada y sé a quién ofrecer cada billete o moneda.

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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