1936 100-peseta banknote (Burgos, the cathedral): what it is and if yours is worth anything

If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 100 PESETAS, and the date Burgos, November 21, 1936, this is what you have: the banknote cataloged as Pick-101.

Obverse of the 100 pesetas banknote from the Banco de España dated November 21, 1936, the Burgos Cathedral Reverse of the 100 pesetas banknote from the Banco de España dated November 21, 1936
Obverse and reverse of the 100 pesetas banknote dated November 21, 1936. Image from the Banknote Mate (Catamates) catalog, used with permission.

It is one of the first banknotes from the Banco de España de Burgos, which operated in the Nationalist zone during the Civil War. That bank did not have its own banknotes because the reserves had remained in Madrid, and the English printing presses did not supply it. So, it commissioned a provisional series from the German firm Giesecke & Devrient, of Leipzig: the order was placed on the very same November 21, 1936, which appears on the banknote, and this 100-peseta note was put into circulation on March 15, 1937.

Here you will find who or what appears on it, how to distinguish it from similar ones, 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.

Burgos Cathedral: what appears on this banknote

This banknote does not feature a portrait. The obverse, in green, is almost entirely text and borders: "El Banco de España," "Pagará al portador cien pesetas" (Will pay the bearer one hundred pesetas), a large "100" inside a rosette, and the date of Burgos. Above each signature, it reads "P. El Gobernador," "P. El Interventor," and "P. El Cajero," which means "for" each of them.

On the reverse, framed under an arch, appears the Cathedral of Santa María of Burgos, the city where the Bank had its headquarters at that time.

Banknote Fact Sheet

Face value 100 pesetas
Date of issue Burgos, November 21, 1936
Pick Catalog P-101
Printer Giesecke & Devrient, Leipzig (Germany)
Dimensions 160 × 85 mm
Series A to X (no series I)
Print run 28,350,000 copies in series B to W
Put into circulation March 15, 1937
Signatures Ramón Artigas Gracia, Antonio García Victoria and Juan Villarroya Masfarner
Obverse Text, borders and the number "100", without portrait
Reverse Burgos Cathedral under an arch

How to know if yours is original

Many originals of this banknote remain, but there are also reproductions in circulation: collector's prints, catalog facsimiles, and press reprints. It is worth ruling that out first.

It is a war-time banknote, printed quickly using typography and lithography, without the relief engraving of previous banknotes. Pay attention to the following:

  • Do not look for relief. This banknote is flat to the touch. The lack of relief does not mean it is a fake.
  • Sharpness of the background. With a ten-power magnifying glass, the background of borders is made up of fine, continuous lines. In a scanned copy, you can see dot patterns and blurred lines.
  • The serial number is in ink. It is in red, with the series letter in front, appearing twice on the obverse. All digits are the same size and are well aligned.
  • Banknote paper, not photocopier paper. The original is paper with body, which makes a sound when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

  • Read the date. It must say "Burgos, 21 de noviembre de 1936." If it says another date, it is a different banknote.
  • Measure it. It measures about 160 × 85 mm, significantly larger than the 100-peseta banknotes from after the war. Photocopied reproductions almost never respect the exact dimensions.
  • Look at the series letter. It goes from A to X, without I. The Edifil catalog separates series A and series X from the rest; if yours is one of those two, mention it in your message.
  • Do not confuse it with other Burgos banknotes. The Bank of Burgos issued other 100-peseta banknotes during the war with different designs. This is the green one, without a portrait, with the cathedral on the back.

I will confirm it for you for free. If it turns out to be a reproduction, I will tell you regardless: I gain nothing 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, no

I’m telling you clearly, because it’s what I’m asked most often: there are tons of these banknotes. Millions were printed, and many families kept some in a drawer. Except for rare exceptions, only those in perfect condition have value: no stains, no folds, no tears, and no worn corners. Most likely, if yours has circulated, it 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 use window light from the side, almost skimming the banknote, and tilt it slowly. This is how folds, creases, and ironed areas—which are not visible when looking at it straight on—appear. A banknote that looks new at first glance often has a fold in the center.

It is also a banknote that was used heavily during the war and the post-war period, printed on paper that does not hold up well: the majority are folded, dirty, or torn. A genuine uncirculated one, with firm paper and not a single fold, is worth showing me.

I do not publish price ranges, and I explain why: the 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 value your banknote, not "one like yours."

And before showing it to anyone: do not iron it, do not wash it, do not tape anything with adhesive, 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 them from you

If yours is perfect, the process is simple.

You send me photos via WhatsApp—obverse, reverse, a close-up of the serial number, and one backlit—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 shipping, and I transfer the money the same day I receive and verify the item; if it does not match the photos, I will return it to you at my own expense.

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

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

Frequently Asked Questions

What appears on the 100-peseta banknote of 1936?
It does not feature a portrait. On the obverse, in green, the number "100" and the date of Burgos, November 21, 1936, appear. On the reverse, the Burgos Cathedral under an arch.

Why does it say Burgos?
Because during the Civil War, there were two "Bancos de España": one in the Republican zone and another in Burgos, in the Nationalist zone. This banknote is from the Bank of Burgos, which commissioned it from a German printer.

Can I exchange it at the Banco de España?
No. Since 2021, the Banco de España no longer exchanges pesetas for euros. Today, this banknote only has collector's value.

How do I know if mine is original or a reproduction?
This banknote has no relief, so don't rely on touch alone. Look at the background with a magnifying glass: in an original, the fine lines are continuous and sharp; in a scanned copy, you will see dots and blurred lines. Also check the red numbering and the paper. If you have doubts, send me photos and I'll check it for free.

How much is the 100-peseta banknote of 1936 worth?
Most likely, little or nothing. Many of these banknotes remain, and except for rare exceptions, only perfect specimens—without stains, folds, or tears—have value. Look at it under tangential light, a side light skimming 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 demand among collectors. I am only interested in those that are perfect or rare variants. If you are unsure, send me photos and I will tell you, no commitment necessary.

The other banknotes from this issue

With the same date, November 21, 1936, the Bank of Burgos also commissioned 25, 50, 500, and 1000 peseta banknotes from the same German printer. If you have any of these, send me photos just like with this one.

Other 100-peseta 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.

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'll tell you today what you have.
WhatsApp +34 644 54 98 79

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