1904 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 January 1, 1904, this is what you have: the banknote cataloged as Pick-55.
It is part of the 1904-1905 issue, the last one manufactured in the Bank of Spain's workshop before Spanish banknotes began to be printed in London again starting in 1906.
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.
A banknote that never entered circulation
The 25 pesetas banknote dated January 1, 1904, was designed and prepared, but it never went into circulation. That is why it is not a banknote that appears in household drawers like the others: what exist are printer's proofs and specimens that were never used as money.
The obverse features allegorical figures on the ends and an angel. The reverse shows the Bank of Spain building, a cornucopia, the Spanish coat of arms, and an allegory with cherubs, with a caduceus head over the watermark area.
Banknote fact sheet
| Face value | 25 pesetas |
|---|---|
| Date of issue | January 1, 1904 |
| Pick catalog | P-55 |
| Status | Did not circulate |
| Signatures | Tomás Castellanos Villarroya and Emilio Rodero |
| Obverse | Allegorical figures on the ends and an angel |
| Reverse | Bank of Spain building, cornucopia, Spanish coat of arms, and allegory with cherubs |
How to tell if yours is original
It is important 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.
It is a banknote printed using the intaglio (calcography) technique, which leaves specific marks that a modern reproduction does not have:
- Relief to the touch. Run your fingertip over the design, the numbers, and the letters of the title: in an original, you can feel the raised ink. An offset-printed facsimile is completely flat.
- Engraved lines, not a screen pattern. 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 in the pulp. When held up to the light, the watermark should appear to be formed within the paper, not printed on top of it.
- Banknote paper, not photocopier paper. The original is a durable paper with body that makes a sound when shaken. Modern coated paper is smooth and cold to the touch.
Specific checks for this banknote
- Check the exact motif. On the obverse — allegorical figures on the ends and an angel. On the reverse — the Bank of Spain building, a cornucopia, the coat of arms, and cherubs.
- If yours looks like it has circulated, be suspicious. This banknote was never used as money, so a folded and worn "pocket-worn" specimen is almost certainly a reproduction.
- Proofs have their own markings. Printer's proofs usually have punch holes, stamps, or special numbering. If you see something like that, send me photos: it could be an interesting piece.
I will verify it 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'll let you know today, with no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com
What makes it worth more or less
Since it never circulated, what matters here is exactly what you have: an authentic printer's proof is a very special piece, and a reproduction has no value as a banknote. Only an examination with good photos can decide between one or the other.
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 only serves to lead 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 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 close-up 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 does not match the photos, I will return it to you at my expense.
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 grading by PMG or consignment for you.
I buy throughout Spain, no matter where you live, and the process is always the same. If you are nearby, in any municipality in Asturias I will go to see it at your house free of charge, and you can also bring it to my shop in Gijón, at Calle Cabrales 77, by appointment.
Frequently asked questions
What appears on the 1904 25 pesetas banknote?
It does not feature any historical figure. On the obverse, there are allegorical figures and an angel; on the reverse, the Bank of Spain building with the coat of arms and cherubs.
How do I know if mine is original or a reproduction?
The fastest way: look at the drawing with a magnifying glass (continuous engraved line for an original, screen of dots for a copy) and run your finger over the letters looking 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.
How much is the 1904 25 pesetas banknote worth?
It depends entirely on the specimen: condition, margins, and any repairs move 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.
Did this banknote ever circulate?
No. The 25 pesetas banknote from January 1, 1904, was not put into circulation. What is preserved are proofs or unused specimens, so one that is very worn is likely a reproduction.
The other banknotes of this issue
Other 25 pesetas banknotes from the Bank of Spain
If you are not quite 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 1889 — Goya (second issue)
- 25 pesetas banknote of 1893 — Jovellanos
- 25 pesetas banknote of 1899 — Quevedo
- 25 pesetas banknote of 1906 — seated allegory
- 25 pesetas banknote of 1907 — the Alhambra
- 25 pesetas banknote of 1908 — Quintana (the one that did not circulate)
- 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 have more pesetas stored around the house, see 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