1889 25-peseta banknote: what it is and what to do if you have one

If you have a banknote in front of you that reads EL BANCO DE ESPAÑA, 25 PESETAS and the date June 1, 1889, this is what you have: the banknote cataloged as Pick-39.

It is part of the June 1, 1889 issue, the second one dedicated to Goya. It reused the obverse of the 1886 banknotes and premiered new reverses engraved by Bartolomé Maura, the Bank's chief engraver. That is why the 1886 and 1889 notes are so often confused.

Here you will find 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 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 is the same as the 1886 banknote: the bust of Goya facing forward with a palette, a harp, a book, and a basket of fruit. The novelty is on the reverse, engraved by Bartolomé Maura: the bust of Croesus, the last king of Lydia, a symbol of wealth.

Banknote data sheet

Face value	25 pesetas
Date of issue	June 1, 1889
Pick Catalog	P-39
Reverse engraver	Bartolomé Maura
Mintage	2,845,000 copies
Put into circulation	December 1892
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	Bust of King Croesus, in brown

How to know if yours is original

It is worth knowing this first, because there are many 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.

It is a banknote engraved using intaglio (calcography), a technique that leaves specific marks that a modern reproduction does not have:

• Relief to the touch. Run your fingertip over the drawing, the figures, and the letters of the title: in an original, you can feel the raised ink. A facsimile printed in offset is completely flat.
• Engraved line, not screening. With a ten-power magnifying glass, the original engraving is resolved into fine, continuous lines. If you see a grid of dots, it is modern printing.
• Watermark in the pulp. When held up to the light, the watermark should appear formed within the paper, not printed on top.
• Banknote paper, not photocopier paper. The original is a resistant paper with body, which makes a sound when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

• Check the exact design. On the obverse — the bust of Goya facing forward with a palette, a harp, and a book. On the reverse — the bust of King Croesus, in brown.
• Look for the double window of the watermark. This banknote and its twin from 1886 have two windows for the watermark, something unusual for Spanish banknotes. When held up to the light, two heads in profile formed within the paper should be visible.
• Do not confuse it with the 1886 one. The obverse is identical. Look at the reverse: if it has the bust of Croesus, it is this 1889 one; if it only has the value, it is the 1886 one.
• Original paper is thick. If yours is very thin and soft, it could be due to wear, but also due to washing or "repair." This is something worth looking at calmly.
• Keep the mintage in mind. 2,845,000 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 making you believe otherwise.

Original or facsimile? I'll tell you today, with no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

What makes it worth more or less

Condition is king, followed by repairs: the original paper is thick, and many copies have been flattened or washed to make them look better. That takes away a lot of their value.

I do not publish price ranges, and I'll explain why: the value depends entirely on the specific copy, and that does not 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: 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 it from you

You send me photos via WhatsApp —obverse, reverse, a detail of the numbering, and one against the light— 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 the shipping, and I transfer the money the same day I receive and verify the piece; if it does not match the photos, I will return it to you, paying for the return postage myself.

I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it for you just for insurance or inheritance purposes, without selling anything, and I can manage the grading by PMG 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 you for the visit, or we can meet at my shop in Gijón, on Calle Cabrales 77, by appointment.

Frequently Asked Questions

Who is on the 25 pesetas banknote of 1889?
Francisco de Goya, on the obverse. The reverse shows the bust of Croesus, the last king of Lydia, engraved by Bartolomé Maura.

How many were printed?
2,845,000 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 drawing with a magnifying glass (continuous engraved line in an original, dot screening in 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 25 pesetas banknote of 1889 worth?
It depends entirely on the copy: the condition, the margins, and any repairs change the price drastically. I don't give blind figures 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, as long as it is original and not restored. For banknotes from this period, honest circulation is not a problem; what really penalizes it is repair.

How do I distinguish it from the 1886 one?
The obverse is the same. The 1889 one has the bust of King Croesus on the reverse; the 1886 one only has the value among geometric motifs. And the date is June 1, 1889.

The other banknotes from this issue

• 50 pesetas banknote of 1889 — Goya (second issue)
• 100 pesetas banknote of 1889 — Goya (second issue)

Other 25 pesetas banknotes of the Bank of Spain

If you aren't sure which one is yours, 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 woman and Mercury
• 25 pesetas banknote of 1884 (January issue) — the geography lesson
• 25 pesetas banknote of 1884 (July issue) — Santillán
• 25 pesetas banknote of 1886 — Goya
• 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. 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 today what you have.
WhatsApp +34 644 54 98 79