1886 1,000 peseta note: what it is and what to do if you have one
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If you have in front of you a banknote on which you can read EL BANCO DE ESPAÑA, 1000 PESETAS, and the date October 1, 1886, this is what you have: the banknote cataloged as Pick-38.
It is part of the October 1, 1886 issue, entirely dedicated to Francisco de Goya: five banknotes, from 25 to 1000 pesetas, with the painter on the obverse.
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: I explain why below.
Francisco de Goya: who is the face on this banknote
Francisco de Goya y Lucientes (Fuendetodos, Zaragoza, 1746 - Bordeaux, 1828), court painter to Charles IV and one of the great masters of Spanish painting. He also had a direct relationship with the issuing bank: he painted the directors of the Banco Nacional de San Carlos, the predecessor of the Banco de España, and those paintings remain in the Bank's collection today.
The obverse features an allegorical woman seated playing the harp with a child and, on the right, a half-body, front-facing portrait of Goya. On the reverse, in brown, two winged mythological animals and allegorical children with a caduceus, a wheel, and an anchor. It is the highest-value banknote of the issue.
Banknote fact sheet
| Face value | 1000 pesetas |
|---|---|
| Date of the banknote | October 1, 1886 |
| Pick Catalog | P-38 |
| Printer | Banco de España workshop, Madrid |
| Dimensions | 165 × 103 mm |
| Issued | March 1895 |
| Signatures | Salvador Albacete, Julián Llorente, and Fernando Pérez Casariego |
| Obverse | Allegorical woman playing the harp with a child, and half-body Goya |
| Reverse | Two winged mythological animals and children with a caduceus, wheel, and anchor, in brown |
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 period circulate: collector plates from the seventies and eighties, catalog facsimiles, and press reprints.
This banknote was engraved and printed in the Banco de España workshop in Madrid, using intaglio technique on quality paper. This leaves specific marks that a modern reproduction does not have:
- Raised ink (tactile). Run your fingertip over the design, the numbers, and the title letters: in an original, you can feel the raised ink. An offset-printed facsimile is completely flat.
- Engraved line, not halftone. 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 within the pulp. When held up to the light, the watermark should appear formed within the paper, not printed on top.
- Banknote paper, not photocopy. The original is a durable paper with body that rustles when shaken. Modern coated paper is smooth and cold.
Specific checks for this banknote
- Measure it. This banknote measures 165 × 103 mm. Photographic copies almost always lose two or three millimeters, so a ruler resolves many doubts in ten seconds.
- Check the exact motif. On the obverse — a woman playing the harp with a child, and a half-body Goya. On the reverse — two winged animals and children with a caduceus, a wheel, and an anchor.
- Look at the date and the issue date. It bears an 1886 date, but it was not put into circulation until March 1895.
I will confirm it 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 obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com
What makes it worth more or less
Preservation rules. One thousand pesetas were a fortune in 1895, and any original copy of this banknote is a serious piece. That is why margins, tears, and the absence of repairs matter a great deal.
I do not publish price ranges, and I explain why: the value depends entirely on the specific specimen, and that does not fit in a table. A generic number from the internet only leads to 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 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
You send me photos via WhatsApp—obverse, reverse, a detail of the numbering, and one held up to the light—and I 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 money the same day I receive and verify the piece; if it does not match the photos, I return it at my own shipping 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.
It does not matter where you live: I buy throughout Spain and the process is the same. If you are in Asturias, I can also go to your home to see it at no cost, or we can look at it calmly in my Gijón shop, at Calle Cabrales 77, by appointment.
Frequently asked questions
Who is on the 1000 pesetas 1886 banknote?
Francisco de Goya, half-body, next to an allegorical woman playing the harp. The reverse features two winged mythological animals and children with a caduceus, a wheel, and an anchor.
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 grid for a copy) and run your finger over the letters looking for raised ink. 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 1886 1000 pesetas banknote worth?
It depends entirely on the specimen: preservation, margins, and any repairs change the price drastically. I do not give numbers blindly because they would not 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, as long as it is original and not restored. For banknotes of this era, honest circulation is not a problem; what truly penalizes is repair.
The other banknotes of this issue
- 25 pesetas 1886 banknote — Goya
- 50 pesetas 1886 banknote — Goya
- 100 pesetas 1886 banknote — Goya
- 500 pesetas 1886 banknote — Goya
Other 1000 pesetas banknotes from the Banco de España
If you are not sure which one is yours, compare it with these: they are all 1000 pesetas but from different issues.
- 1000 pesetas 1874 banknote — Alonso Cano
- 1000 pesetas 1875 banknote — the allegorical medallions
- 1000 pesetas 1876 banknote — Lope de Vega
- 1000 pesetas 1878 banknote — Cervantes
- 1000 pesetas 1880 banknote — Murillo
- 1000 pesetas 1884 banknote (January issue) — Mendizábal
- 1000 pesetas 1884 banknote (July issue) — the Marquis of Ensenada
- 1000 pesetas 1895 banknote — Cabarrús
- 1000 pesetas 1907 banknote (May issue) — "the angel"
- 1000 pesetas 1907 banknote (July issue) — the Royal Palace
- 1000 pesetas 1925 banknote — Charles I
- 1000 pesetas 1928 banknote — Ferdinand III the Saint
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 what you have today.
WhatsApp +34 644 54 98 79