1889 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 June 1, 1889, this is what you have: the banknote cataloged as Pick-40.
It is part of the June 1, 1889 issue, the second 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 issues are so often confused.
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: 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 painted the directors of the Bank of San Carlos, the predecessor of the Bank of Spain, and those paintings remain in the Bank's collection today.
The obverse is the same as that of the 1886 banknote: a woman with a palette and a child and a portrait of Goya facing forward. The reverse, new and engraved by Bartolomé Maura, shows in green two winged children with branches and a torch.
Banknote fact sheet
| Face value | 50 pesetas |
|---|---|
| Date of issue | June 1, 1889 |
| Pick catalog | P-40 |
| Printer | Bank of Spain workshop, Madrid |
| Reverse engraver | Bartolomé Maura |
| Mintage | 1,500,000 copies |
| Dimensions | 120 × 80 mm |
| Circulation start | June 1892 |
| Watermark | Profile head |
| Signatures | Salvador Albacete, Julián Llorente, and Fernando Pérez Casariego |
| Obverse | Woman with a painter's palette and a child, and portrait of Goya facing forward |
| Reverse | Two winged children with branches and a torch, in green |
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 period are in circulation: collector's prints from the seventies and eighties, catalog facsimiles, and press reprints.
This banknote was engraved and printed in the Bank of Spain's workshop in Madrid, using intaglio printing on quality paper. This leaves specific marks that a modern reproduction does not have:
- Relief to the touch. Run your fingertip over the drawing, the numbers, and the title letters: in an original, you can feel the raised ink. A facsimile printed in offset 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 pulp. Held up to the light, the watermark should appear to be formed within the paper, not printed on top.
- 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
- Measure it. This banknote measures 120 × 80 mm. Photographic copies almost always lose two or three millimeters, so a ruler resolves many doubts in ten seconds.
- Check the exact motif. On the obverse — a woman with a palette and a child, and the portrait of Goya. On the reverse — two winged children with branches and a torch, in green.
- Do not confuse it with the 1886 one. The obverse is identical. If the reverse has the two winged children, it is this 1889 version; if it only shows the value, it is the 1886 version.
- Keep the mintage in mind. 1,500,000 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'll tell you today, no strings attached
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com
What makes it worth more or less
Condition is king: those that appear clean and without tears are the ones that are truly of interest. Repairs (washing, ironing, taped tears) significantly reduce its value.
I do not publish price ranges, and here is 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 with scotch 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 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, 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 and pay for the return shipping.
I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it solely for insurance or inheritance purposes, without selling anything, and I can manage the PMG grading 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 home without charging for the visit, or we can meet at my Gijón shop, at Calle Cabrales 77, by appointment.
Frequently asked questions
Who is on the 1889 50 pesetas banknote?
Francisco de Goya, on the obverse, next to a woman with a palette and a child. Two winged children with branches and a torch appear on the reverse.
How many were printed?
1,500,000 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 fastest 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 doubts, send me photos and I will tell you for free, even if it turns out to be a facsimile.
How much is the 1889 50 pesetas banknote worth?
It depends entirely on the specimen: condition, 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 is tampering.
How do I distinguish it from the 1886 one?
The obverse is the same. The 1889 version has two winged children with branches and a torch on the reverse; the 1886 version only shows the value amidst geometric motifs.
The other banknotes in this issue
- 25 pesetas banknote from 1889 — Goya (second issue)
- 100 pesetas banknote from 1889 — Goya (second issue)
Other 50 pesetas banknotes from the Bank of Spain
If you aren't quite sure which one is yours, compare it to 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 1886 — Goya
- 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 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 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