1899 25-peseta banknote: what it is and what to do if you have one
If you have before you a banknote that reads EL BANCO DE ESPAÑA, 25 PESETAS, and the date May 17, 1899, this is what you have: the banknote cataloged as Pick-49.
It is part of the 1899-1900 issue, the series the Banco de España dedicated to Francisco de Quevedo: the 25 and 50 pesetas notes are dated 1899 and the 100 pesetas note is dated May 1, 1900. It was the first issue after the war of 1898, and one of the most counterfeited of its time.
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 here: I explain why below.
Francisco de Quevedo: who is the face on this banknote
Francisco de Quevedo y Villegas (Madrid, 1580 - Villanueva de los Infantes, 1645), the great satirist of the Spanish Golden Age, author of El Buscón. The portrait is derived from the one painted by Velázquez, now lost and known only through copies by his followers.
On the obverse, in blue and ocher, is the bust of Quevedo facing forward. On the reverse, in reddish-brown, is the head of Athena with a helmet and Mercury with the caduceus. The obverse was engraved by Enrique Vaquer and the reverse by Bartolomé Maura.
Banknote Fact Sheet
| Face value | 25 pesetas |
|---|---|
| Banknote date | May 17, 1899 |
| Pick Catalog | P-49 |
| Printer | Banco de España workshop, Madrid |
| Engravers | Enrique Vaquer (obverse) and Bartolomé Maura (reverse) |
| Print run | 5,000,000 copies |
| Series | A to O |
| Dimensions | 110 × 55 mm |
| Put into circulation | July 1900 |
| Watermark | Profile of Apollo's head, "25" and "P.25" in the margin |
| Signatures | Count of Torreánaz, José Gurumeta, and Antonio Góngora |
| Obverse | Bust of Francisco de Quevedo facing forward, in blue and ocher |
| Reverse | Head of Athena with helmet and Mercury with the caduceus, in reddish-brown |
How to know if yours is original
It is advisable to know this first, because far more reproductions than originals of Spanish banknotes from this era are in circulation: collector's prints 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 feel. Run your fingertip over the design, the numbers, and the title letters: on an original, you can feel the raised ink. A facsimile printed in offset is completely flat.
- Engraved line, not halftone. With a 10x 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 to be formed within the paper, not printed on top.
- Banknote paper, not photocopied. The original is a durable, 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 110 × 55 mm. Photographic copies almost always lose two or three millimeters, so a ruler settles many doubts in ten seconds.
- Check the exact motif. On the obverse — the bust of Quevedo facing forward. On the reverse — the head of Athena with helmet and Mercury with the caduceus.
- Check the watermark. When held up to the light, you should see a profile of a head, the "25" in the lower center, and "P.25" in the left margin.
- Do not confuse it with the 1893 issue. The reverse looks very similar to the 25 pesetas note from 1893, but that one features Jovellanos on the obverse. Here, the face is Quevedo's.
- Keep the print run in mind. 5,000,000 copies were printed, but that was over 120 years ago and most were withdrawn and destroyed.
I can confirm it for you for free. If it turns out to be a reproduction, I will tell you anyway: 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
Preservation is key. Although the Quevedo series was heavily counterfeited, period fakes of this 25 peseta note are rare (in a study of 87 specimens, only 3% were fake), so what matters most is the condition and that it has no repairs.
I do not publish price ranges, and I'll explain why: the value depends entirely on the specific specimen, and that cannot be captured in a table. A generic figure from the internet only leads 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, and do not put it in soft PVC. All four are irreversible. I explain this in detail in my guide to selling old banknotes.
How I buy from you
You send me photos via WhatsApp — obverse, reverse, a detail of the numbering, and one held up to 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 shipping, and I transfer the money the same day I receive and verify the piece; if it doesn't match the photos, I will return it and pay for the return postage.
I'm Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it for you for insurance or inheritance purposes, without buying 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 even come to see it at your home at no cost, or we can look at it calmly at my shop in Gijón, at Calle Cabrales 77, by appointment.
Frequently asked questions
Who is on the 1899 25 peseta banknote?
Francisco de Quevedo. His bust facing forward appears on the obverse; on the reverse, the head of Athena with a helmet and Mercury with the caduceus.
How many were printed?
5,000,000 copies were printed, but that was over 120 years ago and most 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 lines in an original, a dot grid in a copy) and run your finger over the letters to feel 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.
What is the 1899 25 peseta banknote worth?
It depends entirely on the specimen: preservation, margins, and any repairs move the price drastically. I don't give figures blindly because it 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 of this era, honest circulation is not a problem; what really penalizes the value is repairs.
The other banknotes in this issue
Other 25 pesetas banknotes from the Banco de España
If you are not sure which one is yours, compare it to these: they are all 25 pesetas but from different issues.
- 25 pesetas 1874 banknote — children carrying baskets
- 25 pesetas 1875 banknote — the peasant woman and Mercury
- 25 pesetas 1884 banknote (January issue) — the geography lesson
- 25 pesetas 1884 banknote (July issue) — Santillán
- 25 pesetas 1886 banknote — Goya
- 25 pesetas 1889 banknote — Goya (second issue)
- 25 pesetas 1893 banknote — Jovellanos
- 25 pesetas 1904 banknote — the banknote that did not circulate
- 25 pesetas 1906 banknote — the seated allegory
- 25 pesetas 1907 banknote — the Alhambra
- 25 pesetas 1908 banknote — Quintana (the one that never circulated)
- 25 pesetas 1926 banknote — Saint Francis Xavier
- 25 pesetas 1928 banknote — Calderón de la Barca
- 25 pesetas 1936 banknote — Joaquín Sorolla
- 25 pesetas 1937 banknote — Columbus (the one that never circulated)
- 25 pesetas 1938 banknote — the Giralda (Burgos)
- 25 pesetas 1940 banknote — Juan de Herrera
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'll tell you today what you have.
WhatsApp +34 644 54 98 79