1886 50-peseta banknote: what it is and what to do if you have one
If you are holding a banknote that reads EL BANCO DE ESPAÑA, 50 PESETAS, and the date October 1, 1886, this is what you have: the banknote cataloged as Pick-35.
It is part of the October 1, 1886 issue, 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 will not 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), chamber painter to Charles IV and one of the great masters of Spanish painting. He also had a direct relationship with the issuing bank: he portrayed the directors of the Banco Nacional de San Carlos, the predecessor to the Banco de España, and those paintings remain in the Bank's collection today.
On the obverse, to the left, are a woman with a painter's palette and a child, and to the right, a portrait of Goya facing forward. The reverse, in greenish-blue, only shows the value amidst geometric motifs.
Banknote fact sheet
| Face value | 50 pesetas |
|---|---|
| Banknote date | October 1, 1886 |
| Pick catalog | P-35 |
| Mintage | 1,452,500 copies |
| Dimensions | 120 × 80 mm |
| Released into circulation | August 1888 |
| Watermark | Profile head with helmet, "B de E" and "50" |
| Signatures | Salvador Albacete, Julián Llorente, and Fernando Pérez Casariego |
| Obverse | Woman with a painter's palette and a child, and a portrait of Goya facing forward |
| Reverse | Value amidst geometric motifs, in greenish-blue |
How to tell if yours is original
It is worth knowing this first and foremost, 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 is a banknote engraved using the intaglio (calcography) process, a technique that leaves specific marks that a modern reproduction does not have:
- Relief to the touch. Run your fingertip over the design, 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 10x 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 paper pulp. When 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 durable, substantial paper that sounds when shaken. Modern coated paper is smooth and cold.
Specific checks for this banknote
- Measure it. This banknote measures 120 × 80 mm. Photographic copies almost always lose two or three millimeters, so a ruler solves many doubts in ten seconds.
- Check the exact design. On the obverse — a woman with a palette and a child, and the portrait of Goya facing forward. On the reverse — only the value amidst geometric motifs, in greenish-blue.
- Check the watermark. Held up to the light, a profile head with a helmet should be visible in the central window, with the initials "B de E" above and "50" below.
- Don't confuse it with the 1889 issue. The 1889 50 pesetas banknote has the same obverse, but the reverse features two winged children with branches and a torch. Here, the reverse only shows the value.
- Keep the mintage in mind. 1,452,500 copies were printed, but that was over 130 years ago and the vast majority were withdrawn and destroyed.
I will confirm it for you for free. If it turns out to be a reproduction, I will tell you regardless: I gain nothing by making you believe otherwise.
Original or facsimile? I will tell you today, no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com
What makes it worth more or less
Condition is key: this is a banknote that circulated quite a bit, and those that appear clean and without tears are the ones that are truly of interest. Repairs (washing, ironing, taped tears) significantly lower its value.
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 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 tape anything, and do not put it in soft PVC. All four are irreversible. I explain this in detail in my guide to selling antique banknotes.
How I buy it from you
You send me photos via WhatsApp—obverse, reverse, a close-up of the serial number, 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, providing a firm offer. I pay for shipping, and I transfer the funds the same day I receive and verify the item; if it does not match the photos, I will return it to you and pay for the return postage.
I am Fran, from Iberoamericana Banknotes, a PMG authorized dealer. I can also value it for you for insurance or inheritance purposes, without selling anything, and I can manage the PMG grading process or consignment for you.
I buy throughout Spain, wherever you live, and the process is always the same. If you are nearby, in any municipality in Asturias I will come to see it at your home at no cost, and you can also bring it to my shop in Gijón, at Calle Cabrales 77, by appointment.
Frequently Asked Questions
Who is featured on the 1886 50 pesetas banknote?
Francisco de Goya. The obverse features his portrait facing forward next to a woman with a palette and a child; the reverse only shows the value.
How many were printed?
1,452,500 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 for an original, halftone dots for a copy) and run your finger over the letters to feel for relief. 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 50 pesetas banknote worth?
It depends entirely on the specimen: condition, margins, and any repairs move the price drastically. I do not give out blind figures because that 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, as long as it is original and not restored. For banknotes of this era, honest circulation is not a problem; what truly penalizes the value is repair work.
How do I distinguish it from the 1889 issue?
They have the same obverse. On the reverse, the 1886 issue only shows the value amidst geometric motifs, while the 1889 issue features two winged children with branches and a torch.
The other banknotes in this issue
- 25 pesetas banknote from 1886 — Goya
- 100 pesetas banknote from 1886 — Goya
- 500 pesetas banknote from 1886 — Goya
- 1000 pesetas banknote from 1886 — Goya
Other 50 pesetas banknotes from the Banco de España
If you are not quite sure which one is yours, compare it with these: they are all 50 pesetas but from different issues.
- 50 pesetas banknote from 1874 — Rafael Esteve
- 50 pesetas banknote from 1875 — allegories of commerce
- 50 pesetas banknote from 1878 — Calderón de la Barca
- 50 pesetas banknote from 1880 — Campomanes
- 50 pesetas banknote from 1884 (January issue) — Mendizábal
- 50 pesetas banknote from 1884 (July issue) — Bravo Murillo
- 50 pesetas banknote from 1889 — Goya (second issue)
- 50 pesetas banknote from 1893 — Jovellanos
- 50 pesetas banknote from 1898 — Jovellanos
- 50 pesetas banknote from 1899 — Quevedo
- 50 pesetas banknote from 1902 — Velázquez
- 50 pesetas banknote from 1905 — Echegaray
- 50 pesetas banknote from 1906 — allegory with the caduceus
- 50 pesetas banknote from 1907 — Burgos
- 50 pesetas banknote from 1927 — Alfonso XIII
- 50 pesetas banknote from 1928 — Velázquez and the Prado Museum
- 50 pesetas banknote from 1931 — Eduardo Rosales
- 50 pesetas banknote from 1935 — Santiago Ramón y Cajal
General guide: selling antique 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 one of the reverse and I will tell you today what you have.
WhatsApp +34 644 54 98 79