1893 50-peseta banknote: what it is and what to do if you have one
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If you have a banknote in front of you that reads EL BANCO DE ESPAÑA, 50 PESETAS and is dated July 24, 1893, this is what you have: the banknote cataloged as Pick-43.
It is part of the 1893-1895 issue, manufactured in the Bank of Spain's workshop in Madrid: the 25, 50, and 100 peseta notes of July 24, 1893, dedicated to Jovellanos, and the 1000 peseta note of May 1, 1895, dedicated to Cabarrús.
Here you will find who or what appears on it, how to distinguish it from similar ones, how to check if yours is an original, and what to do if you want to sell it. You will not find prices here: I explain why further down.
Jovellanos: who is the face of this banknote
Gaspar Melchor de Jovellanos (Gijón, 1744 - Puerto de Vega, Navia, 1811), the great Asturian Enlightenment figure: jurist, writer, reformer, and Minister of Grace and Justice under Charles IV. He founded the Royal Asturian Institute of Nautical Science and Mineralogy in Gijón, and his name is still found on streets, squares, and institutes throughout Asturias. If you are from here, this banknote has special interest.
On the obverse appears the portrait of Jovellanos looking to the right, next to an allegorical female figure with a sword. On the reverse, in greenish-blue, is Mercury with a winged helmet and a cherub with a sickle. It was engraved by Bartolomé Maura.
Banknote fact sheet
| Face value | 50 pesetas |
|---|---|
| Banknote date | July 24, 1893 |
| Pick catalog | P-43 |
| Printer | Bank of Spain workshop, Madrid |
| Engraver | Bartolomé Maura |
| Print run | 3,000,000 copies |
| Dimensions | 124 × 77 mm |
| Put into circulation | July 1894 |
| Watermark | Apollo's head in profile and the value "50" |
| Signatures | Pío Gullón, Ricardo Rubio and Fernando Pérez Casariego |
| Obverse | Portrait of Jovellanos and allegorical female figure with a sword |
| Reverse | Mercury with a winged helmet and a cherub with a sickle, in greenish-blue |
How to tell if yours is an original
It is worth knowing this above all else, because there are many more reproductions than originals of Spanish banknotes from this era 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 technique on quality paper. 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. A facsimile printed in offset is completely flat.
- Engraved line, not screening. 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 paper pulp. When held up to the light, the watermark should appear formed within the paper, not printed on top.
- Banknote paper, not photocopier paper. The original is durable, full-bodied paper that makes a sound when shaken. Modern coated paper is smooth and cold.
Specific checks for this banknote
- Measure it. This banknote measures 124 × 77 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 — the portrait of Jovellanos and an allegorical woman with a sword. On the reverse — Mercury with a winged helmet and a cherub with a sickle.
- Look for the head of Apollo. When held up to the light, Apollo's head in profile and the value of the banknote should appear formed within the paper.
- Do not confuse it with the 1898 one. The 50 peseta banknote of 1898 is almost the same: the right part of the obverse changes, where instead of the woman with the sword, a bust of Athena with the coats of arms of the kingdoms of Spain appears. Look at the date as well.
- Keep the print run in mind. 3,000,000 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 just the same: I gain nothing by making you believe otherwise.
Original or facsimile? I'll let you know today, no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com
What makes it worth more or less
Condition is key: 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 I will explain why: the value depends entirely on the specific specimen, and that does not fit into a table. A generic figure from the internet only serves to cause disappointment. Send me photos and I will appraise 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 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 reply in less than 24 hours telling you what you have and, if I am interested, with a firm offer. I pay for the shipping, and I transfer the money the same day I receive and verify the item; if it does not match the photos, I will return it, paying for the return shipping myself.
I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also appraise it just for insurance or inheritance purposes, without selling anything, and I can manage the PMG grading 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 go to your home to see it 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 on the 50 peseta banknote of 1893?
Gaspar Melchor de Jovellanos, next to an allegorical female figure with a sword. On the reverse appear Mercury with a winged helmet and a cherub with a sickle.
How many were printed?
3,000,000 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 an original or a reproduction?
The fastest way: look at the design with a magnifying glass (continuous engraved line on an original, dot screening on 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 50 peseta banknote of 1893 worth?
It depends entirely on the specimen: condition, margins, and any repairs move the price drastically. I do not give figures blindly because they 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 an original and has not been restored. For banknotes of this era, honest circulation is not a problem; what truly penalizes the value is repairs.
How do I distinguish it from the 1898 one?
They are almost identical. In the 1893 one, to the right of the obverse there is an allegorical woman with a sword; in the 1898 one, a bust of Athena with the coats of arms of the kingdoms of Spain. And the date is July 24, 1893.
The other banknotes from this issue
- 25 peseta banknote of 1893 — Jovellanos
- 100 peseta banknote of 1893 — Jovellanos
- 1000 peseta banknote of 1895 — Cabarrús
Other 50 peseta banknotes from the Bank of Spain
If you are not quite sure which one is yours, compare it with these: they are all 50 pesetas but from different issues.
- 50 peseta banknote of 1874 — Rafael Esteve
- 50 peseta banknote of 1875 — allegories of commerce
- 50 peseta banknote of 1878 — Calderón de la Barca
- 50 peseta banknote of 1880 — Campomanes
- 50 peseta banknote of 1884 (January issue) — Mendizábal
- 50 peseta banknote of 1884 (July issue) — Bravo Murillo
- 50 peseta banknote of 1886 — Goya
- 50 peseta banknote of 1889 — Goya (second issue)
- 50 peseta banknote of 1898 — Jovellanos
- 50 peseta banknote of 1899 — Quevedo
- 50 peseta banknote of 1902 — Velázquez
- 50 peseta banknote of 1905 — Echegaray
- 50 peseta banknote of 1906 — allegory with the caduceus
- 50 peseta banknote of 1907 — Burgos
- 50 peseta banknote of 1927 — Alfonso XIII
- 50 peseta banknote of 1928 — Velázquez and the Prado Museum
- 50 peseta banknote of 1931 — Eduardo Rosales
- 50 peseta banknote of 1935 — Santiago Ramón y Cajal
General guide: selling old Bank of Spain banknotes. If you have more pesetas stored at home, 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