1928 25-peseta banknote (Calderón de la Barca): what it is and if yours is worth anything

If you have before you a banknote that reads EL BANCO DE ESPAÑA, 25 PESETAS, and the date August 15, 1928, this is what you have: the note cataloged as Pick-74.

It is part of the August 15, 1928 issue, the last major series dated from the reign of Alfonso XIII: five banknotes printed by Bradbury Wilkinson and dedicated to great figures of Spanish history and culture (Calderón, Velázquez, Cervantes, Cisneros, and Ferdinand III). Several did not enter circulation with the king: they were released onto the streets during the Second Republic, and in enormous quantities.

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 will not find prices here: I explain why below.

Calderón de la Barca: who is the face on this banknote

Pedro Calderón de la Barca (Madrid, 1600 - 1681), one of the great playwrights of the Spanish Golden Age, author of Life Is a Dream. On the obverse, his portrait appears next to his monument in Madrid.

On the reverse, The Devotion of the Cross is reproduced, a work by Domingo Muñoz inspired by Calderón's drama of the same title.

Banknote Data Sheet

Face value 25 pesetas
Date of issue August 15, 1928
Pick Catalog P-74
Printer Bradbury Wilkinson & Co., New Malden (England)
Series No series and series A to E
Signatures Carlos Vergara Cailleaux, Adolfo Castaño Orejón, and Bonifacio Burgos Delgado
Obverse Calderón de la Barca and his monument in Madrid
Reverse “The Devotion of the Cross”, work by Domingo Muñoz

How to know if yours is original

Many originals of this banknote are preserved, but reproductions also circulate: collector prints from the seventies and eighties, catalog facsimiles, and press reprints. It is best to rule this out before anything else.

This banknote was printed in England by the Bradbury Wilkinson firm, one of the world's great banknote printers, using intaglio printing (steel engraving) techniques. This 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: on an original, you can feel the raised ink. An offset-printed facsimile is completely flat.
  • Engraved line, not halftone. 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 within the paper. When held up to the light, the watermark should appear formed within the paper, not printed on top of it.
  • Banknote paper, not photocopier paper. The original is a durable, substantive paper that makes a sound when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

  • Check the exact motif. On the obverse — Calderón de la Barca and his monument. On the reverse — "The Devotion of the Cross."
  • Look at the series and numbering. The no-series notes and those from series A up to number 7,780,000 are one variant; from 7,780,001 of series A to the end of series E, another (the Republican issue).
  • Do not confuse it with the 1926 one. The 25-peseta banknote of 1926 features Saint Francis Xavier. This one, from August 15, 1928, features Calderón.

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 can tell you today, no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

Is your banknote worth anything? Most likely not

I’ll be clear, because it’s what I’m asked most often: there are tons of these banknotes. They were printed by the millions, circulated for years, and many families kept one in a drawer. Except for rare exceptions, only those in perfect condition have value: no stains, no folds, no tears, and no worn corners. It is most likely that yours, if it has circulated, is worth nothing or almost nothing.

To know if it is truly perfect, look at it with tangential light: turn off the ceiling light, put a lamp or window light to the side, almost grazing the banknote, and slowly tilt it. This is how folds, creases, and pressed areas appear that aren't visible head-on. A banknote that looks new to the naked eye often has a fold in the center.

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 them from you

If yours is perfect, or is one of those exceptions, the process is simple.

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 does not match the photos, I will return it to you at my own expense.

I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it for you for insurance or inheritance purposes, without selling it, and I can manage 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 go to your home to see it at no cost, or we can look at it calmly in my store in Gijón, at Calle Cabrales 77, by appointment.

Frequently Asked Questions

Who is on the 25-peseta banknote of 1928?
Pedro Calderón de la Barca, along with his monument in Madrid. On the reverse appears "The Devotion of the Cross," a work by Domingo Muñoz.

How do I know if mine is an original or a reproduction?
The quickest way: look at the drawing with a magnifying glass (continuous engraved line in an original, grid of dots in a copy) and run your finger over the letters looking for relief. If you have any doubts, send me photos and I'll tell you for free, even if it turns out to be a facsimile.

How much is the 25-peseta banknote of 1928 worth?
Usually little or nothing. Many of these banknotes are preserved and, except for rare exceptions, only perfect specimens have value: no stains, folds, or tears. Look at it with tangential light, a light from the side grazing the note, to see if it has folds. If it is perfect, send me photos and I will tell you what it is worth.

Do you buy it even if it has circulated?
Usually not. There are so many of these banknotes that a copy with folds, stains, or tears has no outlet among collectors. I am only interested in those that are perfect or rare variants. If in doubt, send me photos and I will tell you without obligation.

The other banknotes in this issue

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.

General guide: selling old Bank of Spain banknotes. If you have more pesetas stored around the house, check 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

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¿Prefieres venderlo en consignación?

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.

¿Prefieres traerlo a mi tienda de Gijón?

Te atiendo en mi tienda de Gijón, Calle Cabrales 77, junto al Parque de Begoña, con cita previa. Y si vives lejos, en cualquier concejo de Asturias voy a tu casa gratis después de ver unas fotos.

Escríbeme por WhatsApp: +34 644 54 98 79