1886 25-peseta banknote: 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, 25 PESETAS, and the date October 1, 1886, this is what you have: the banknote cataloged as Pick-34.

It is part of the issue of October 1, 1886, dedicated entirely to Francisco de Goya: five banknotes, from 25 to 1000 pesetas, featuring 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 original, and what to do if you want to sell it. You won't find prices here: 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 to the Bank of Spain, and those paintings remain in the Bank's collection today.

The obverse shows a bust of Goya facing forward, flanked by a classic male bust and a capital, along with a painter's palette, a fruit basket, a book, a harp, and laurel leaves. The reverse is simple: the value, "25 PESETAS", set among geometric motifs in a purplish-red tone.

Banknote fact sheet

Face value	25 pesetas
Date of issue	October 1, 1886
Pick catalog	P-34
Print run	2,959,000 copies
Dimensions	100 × 75 mm
Put into circulation	July 1891
Watermark	Two windows, each with a profile head looking to the right
Signatures	Salvador Albacete, Julián Llorente, and Fernando Pérez Casariego
Obverse	Bust of Goya facing forward, with a classic bust, capital, palette, fruit basket, book, harp, and laurel
Reverse	Value "25 PESETAS" among geometric motifs, in purplish-red

How to know if yours is original

It is worth knowing this first and foremost, because there are far more reproductions than originals of Spanish banknotes from this period in circulation: collector's prints from the seventies and eighties, catalog facsimiles, and press reprints.

This banknote was intaglio-printed (calcography), a technique that leaves specific marks that a modern reproduction does not have:

• Raised ink. Run your fingertip over the design, the figures, and the letters of the title: on an original, you can feel the raised texture of the ink. An offset-printed facsimile is completely flat.
• Engraved lines, not a screen. With a 10x magnifying glass, the original engraving is resolved into fine, continuous lines. If you see a grid of dots, it is a modern print.
• Watermark within the pulp. 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 a durable, substantial paper that makes a sound when flicked. Modern coated paper is smooth and cold.

Specific checks for this banknote

• Measure it. This banknote measures 100 × 75 mm. Photographic copies almost always lose two or three millimeters, so a ruler can resolve many doubts in ten seconds.
• Check the exact design. On the obverse — the bust of Goya facing forward with a palette, a harp, and a book. On the reverse — only the value between geometric motifs, in purplish-red.
• Look for the double window watermark. This banknote and its twin from 1889 have two windows for the watermark, which is unusual for Spanish banknotes. Held up to the light, you should see two profile heads formed within the paper.
• Do not confuse it with the 1889 issue. The 25 peseta banknote of 1889 has the same obverse, but the reverse features the bust of King Croesus. Here, the reverse only shows the value.
• The original paper is thick. If yours is very thin and soft, it may be due to wear, but also due to washing or "repairing." This is something to check carefully.
• Keep the print run in mind. 2,959,000 copies were printed, but that was over 130 years ago and the vast majority were withdrawn and destroyed.

I can confirm it for free. If it turns out to be a reproduction, I will tell you the same: I gain nothing by having 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

Condition is the most important factor, followed by repairs: as it is a thick paper, many specimens have been washed or flattened to "improve" them, and that significantly reduces their value. An honestly circulated note is worth more than a repaired one.

I do not publish price ranges, and here is why: the value depends entirely on the specific specimen, and that cannot fit into a table. A generic figure from the internet is only good for leading 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 tape anything with scotch 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 close-up of the numbering, 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 transfer the payment the same day I receive and verify the item; if it does not match the photos, I will return it to you and pay the return shipping costs.

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

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

Frequently asked questions

Who is featured on the 1886 25 peseta banknote?
Francisco de Goya. The obverse shows his bust facing forward, with a palette, a harp, and a book; the reverse shows the value "25 PESETAS" among geometric motifs.

How many were printed?
2,959,000 copies were printed, but that was over 130 years ago and the vast majority were withdrawn and destroyed.

How do I know if mine is original or a reproduction?
The quickest way: look at the design with a magnifying glass (continuous engraved line on an original, dot screen on a copy) and run your finger over the letters looking for raised texture. 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 25 peseta banknote worth?
It depends entirely on the specimen: condition, margins, and any repairs change the price drastically. I do not provide blind figures 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, provided it is original and not restored. For banknotes of this era, honest circulation is not a problem; what really penalizes the value is repair.

How do I distinguish it from the 1889 issue?
They have the same obverse. Check the reverse: the 1886 issue only shows the value between geometric motifs, and the 1889 one features the bust of King Croesus. And check the date: October 1, 1886.

The other banknotes in this issue

• 50 pesetas banknote of 1886 — Goya
• 100 pesetas banknote of 1886 — Goya
• 500 pesetas banknote of 1886 — Goya
• 1000 pesetas banknote of 1886 — Goya

Other 25 peseta banknotes from the Bank of Spain

If you aren't sure which one you have, compare it with these: they are all 25 pesetas but from different issues.

• 25 pesetas banknote of 1874 — children carrying baskets
• 25 pesetas banknote of 1875 — the farm girl and Mercury
• 25 pesetas banknote of 1884 (January issue) — the geography lesson
• 25 pesetas banknote of 1884 (July issue) — Santillán
• 25 pesetas banknote of 1889 — Goya (second issue)
• 25 pesetas banknote of 1893 — Jovellanos
• 25 pesetas banknote of 1899 — Quevedo
• 25 pesetas banknote of 1904 — the banknote that did not circulate
• 25 pesetas banknote of 1906 — the seated allegory
• 25 pesetas banknote of 1907 — the Alhambra
• 25 pesetas banknote of 1908 — Quintana (the one that never circulated)
• 25 pesetas banknote of 1926 — Saint Francis Xavier
• 25 pesetas banknote of 1928 — Calderón de la Barca
• 25 pesetas banknote of 1936 — Joaquín Sorolla
• 25 pesetas banknote of 1937 — Columbus (the one that never circulated)
• 25 pesetas banknote of 1938 — the Giralda (Burgos)
• 25 pesetas banknote of 1940 — Juan de Herrera

General guide: selling old Bank of Spain banknotes. And if more pesetas have appeared in the same drawer, I'll tell you 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