1907 1000-peseta banknote (July issue, Royal Palace): what it is and what to do if you have one

If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 1000 PESETAS, and the date July 15, 1907, this is what you have: the banknote cataloged as Pick-66.

It is part of the July 15, 1907 issue, the second series of allegories printed in London by Bradbury Wilkinson. Each banknote features a Spanish monument on the reverse, and interestingly, the Bank held them in reserve for years: several of these banknotes were not put into circulation until the 1920s.

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 below.

What this banknote represents

The obverse features Neptune with the caduceus and cherubs on the sides. On the reverse is the Royal Palace of Madrid amidst geometric motifs.

It is the highest-value banknote of the July 15, 1907 issue, and it was one of the first in the series to be released: it was put into circulation in January 1909.

Banknote factsheet

Face value 1000 pesetas
Date of issue July 15, 1907
Pick Catalog P-66
Printer Bradbury Wilkinson & Co., London
Dimensions 149 × 109 mm
Released into circulation January 1909
Signatures José Sánchez Guerra, Emilio Rodero and Luis Clemente Fabiani
Obverse Neptune with the caduceus and cherubs on the sides
Reverse Royal Palace of Madrid

How to tell if yours is original

It is best to know this first, because far more reproductions than originals of Spanish banknotes from this period are in circulation: collector plates from the seventies and eighties, catalog facsimiles, and press reprints.

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

  • Relief to the touch. Run your fingertip over the design, the numbers, and the title letters: on an original, you can feel the raised ink. An offset-printed facsimile is completely flat.
  • Engraved line, not dots. With a 10x magnifying glass, the original engraving resolves into fine, continuous lines. If you see a dot matrix, it is a modern print.
  • Watermark in the paper. When held up to the light, the watermark should appear formed within the paper, not printed on top.
  • Banknote paper, not photocopy paper. The original is strong, substantial paper that makes a sound when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

  • Measure it. This banknote measures 149 × 109 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 — Neptune with the caduceus and cherubs. On the reverse — the Royal Palace of Madrid.
  • Look at the top right corner of the obverse. Some specimens bear a dry seal (embossed, without ink): this is the revalidation performed by the Second Republic in 1931 for them to continue circulating. It is noticeable to the touch and sometimes visible to the naked eye. It is not a defect: with or without the seal, these are two different catalog variants (the "a" and "b" of the Pick).
  • Don't confuse it with "the angel". The other 1000 peseta note from 1907, dated May 10, features Mercury with a globe. This one, dated July 15, features the Royal Palace on the reverse.

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

Original or facsimile? I will tell you today, no strings attached
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

What makes it worth more or less

Condition is king. One thousand pesetas was a lot of money in 1909, and yet the ones that appear today often have folds and wear. A clean one without repairs is a different story. The variant with or without the dry seal also counts.

I do not publish price ranges, and I will explain why: the value depends entirely on the specific specimen, and that cannot fit into a table. A generic internet figure only leads to disappointment. Send me photos and I will value your banknote, not "one like yours."

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

You send me photos via WhatsApp—obverse, reverse, a detail of the serial number, 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 shipping, and I will transfer the money 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 postage myself.

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

It doesn't matter where you live: I buy throughout Spain and the process is the same. If you are in Asturias, I can also come see it at your home at no cost, or we can look at it calmly at my store in Gijón, on Calle Cabrales 77, by appointment.

Frequently asked questions

What appears on the 1000 peseta 1907 Royal Palace banknote?
On the obverse, Neptune with the caduceus and cherubs on the sides. On the reverse, the Royal Palace of Madrid.

How do I know if mine is an original or a reproduction?
The quickest 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 any doubts, send me photos and I will tell you for free, even if it turns out to be a facsimile.

How much is the 1000 peseta 1907 banknote worth?
It depends entirely on the specimen: condition, margins, and any repairs change the price drastically. I do not give figures blindly because it 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, provided it is original and has not been restored. For banknotes from this period, honest circulation is not a problem; what really penalizes value is repair.

Are there two 1000 peseta banknotes from 1907?
Yes. The May 10, 1907 one, known as "the angel," with Mercury and the globe, and this July 15, 1907 one, with the Royal Palace on the reverse.

The other banknotes of this issue

Other 1000 peseta banknotes from the Bank of Spain

If you are not sure which one yours is, compare it with these: they are all 1000 pesetas but from different issues.

General guide: selling old Bank of Spain banknotes. If you have more pesetas stored at home, check out which peseta banknotes and coins have value.

Send me a photo of the obverse and another of the reverse and I will 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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