1884 1000-peseta banknote (January issue): what it is and what to do if you have one
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If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 1000 PESETAS, and the date January 1, 1884, this is what you have: the banknote cataloged as Pick-28.
It is part of the January 1, 1884 issue: the Mendizábal issue, four of whose five banknotes bear the portrait of the minister of the ecclesiastical confiscations.
Here you have 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: I'll explain why below.
Juan Álvarez de Mendizábal: who is the face on this banknote
Juan Álvarez de Mendizábal (Cádiz, 1790 - Madrid, 1853) was Minister of Finance and President of the Council of Ministers, and his name is linked to the confiscation of 1836: the expropriation and sale at public auction of the property of religious orders, with which he intended to settle the State's debt and finance the Carlist War.
He is one of the most debated figures of the 19th-century Spain, and the Bank of Spain dedicated four of the five banknotes of the January 1884 issue to him. It was not a neutral decision: almost fifty years later, the issuing bank was reclaiming a certain idea of liberal finance.
It is worth stating clearly because false information is circulating: this issue is from the reign of Alfonso XII, not Alfonso XIII, and there is no "boy king" or any child portrait in it.
Banknote fact sheet
| Face value | 1000 pesetas |
|---|---|
| Date of issue | January 1, 1884 |
| Pick Catalog | P-28 |
| Edifil Catalog | to be confirmed |
| Printer | American Bank Note Company, New York |
| Print run | to be confirmed |
| Dimensions | to be confirmed |
| Put into circulation | — |
| Obverse | Portrait of Juan Álvarez de Mendizábal |
| Reverse | Geometric designs with the value |
A note on this specific banknote. Known copies are dated January 19, 1884. When Heritage Auctions sold one in January 2021, from the Cid-Pulido collection, it was the only graded specimen in the entire PMG Population Report and the first offered at public auction.
How to tell if yours is original
It is worth knowing this first and foremost, because far more reproductions than originals of Spanish banknotes from this era circulate: collector plates from the seventies and eighties, catalog facsimiles, and press reprints.
This banknote was engraved by the American Bank Note Company, the New York firm that printed a good part of the world's paper money at the time. Its work is the easiest to distinguish in the whole series because its quality is far superior:
- Engraved in very fine line steel. With a magnifying glass, the portrait lines are sharp and continuous, never a dot pattern.
- Guilloche backgrounds with continuous tracing, generated by a geometric machine. They are practically impossible to reproduce well in a photographic copy: in a facsimile, they appear blurred or with moiré.
- Printer's imprint of the American Bank Note Company, usually on the bottom edge. Photograph it: it is one of the first things I look at.
- Intaglio relief perceptible to the touch in the portrait, figures, and letters.
Specific checks for this banknote
- Check the exact design. On the obverse — portrait of Juan Álvarez de Mendizábal. On the reverse — geometric designs with the value.
I will confirm it for you for free. If it turns out to be a reproduction, I'll tell you just the same: 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
What makes it worth more or less
For this banknote, as in the entire 19th-century series, preservation reigns supreme, and just behind it, repairs: a washed, pressed specimen, with taped tears or trimmed margins loses a lot, even if it "looks better."
I do not publish price ranges, and here's 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 value your banknote, not "one like yours."
And before showing it to anyone: don't iron it, don't wash it, don't stick anything with scotch tape, and don't put it in soft PVC. All four things are irreversible. I explain this in detail in the guide to selling antique banknotes.
How I buy them from you
You send me photos via WhatsApp —obverse, reverse, a detail of the serial number, and one backlit— 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 funds on the same day I receive and verify the item; if it does not match the photos, I return it at my own expense.
I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also appraise it just for insurance or inheritance, 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 for the visit, or we can see it at my shop in Gijón, on Calle Cabrales 77, by appointment.
Frequently asked questions
Who is on the 1000 pesetas banknote of 1884?
Juan Álvarez de Mendizábal. On the obverse — portrait of Juan Álvarez de Mendizábal.
How do I know if mine is original or a reproduction?
The quickest way: look at the portrait with a magnifying glass (continuous engraved line in an original, dot pattern in a copy) and run your finger over the letters looking for relief. If you have doubts, send me photos and I'll tell you for free, even if it turns out to be a facsimile.
How much is the 1000 pesetas banknote of 1884 worth?
It depends entirely on the specimen: preservation, margins, and any repairs move the price drastically. I don't give figures blindly because they wouldn't be honest. With photos, I can tell you what yours is worth in less than 24 hours.
Do you buy it even if it is circulated or has defects?
Yes, provided it is original and not restored. For banknotes of this era, honest circulation is not a problem; what really penalizes is the repair.
The other banknotes of this issue
- 25 pesetas banknote of 1884 (January issue) — the geography lesson
- 50 pesetas banknote of 1884 (January issue) — Mendizábal
- 100 pesetas banknote of 1884 (January issue) — Mendizábal
- 500 pesetas banknote of 1884 (January issue) — Mendizábal
Other 1000 pesetas banknotes from the Bank of Spain
If you aren't sure which one is yours, compare it with these: they are all 1000 pesetas but from different issues.
- 1000 pesetas banknote of 1874 — Alonso Cano
- 1000 pesetas banknote of 1875 — the allegorical medallions
- 1000 pesetas banknote of 1876 — Lope de Vega
- 1000 pesetas banknote of 1878 — Cervantes
- 1000 pesetas banknote of 1880 — Murillo
- 1000 pesetas banknote of 1884 (July issue) — the Marquis of Ensenada
- 1000 pesetas banknote of 1886 — Goya
- 1000 pesetas banknote of 1895 — Cabarrús
- 1000 pesetas banknote of 1907 (May issue) — "the angel"
- 1000 pesetas banknote of 1907 (July issue) — the Royal Palace
- 1000 pesetas banknote of 1925 — Charles I
- 1000 pesetas banknote of 1928 — Ferdinand III the Saint
General guide: selling antique Bank of Spain banknotes. If you have more pesetas stored around the house, check which peseta banknotes and coins have value.
Send me a photo of the obverse and one of the reverse and I'll tell you today what you have.
WhatsApp +34 644 54 98 79