1898 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 bears the date January 2, 1898, this is what you have: the banknote cataloged as Pick-47.
It is part of the 1898 issue, the second dedicated to Jovellanos: two banknotes, of 50 and 100 pesetas, dated 1898, the year of the war with the United States. They utilize much of the design from the 1893 notes, so it is best not to confuse them.
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: I explain why below.
Jovellanos: who is the face on 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. In Gijón, he founded the Royal Asturian Institute of Nautical Science and Mineralogy, and his name remains on streets, squares, and institutes throughout Asturias. If you are from here, this banknote has special interest.
The obverse features the portrait of Jovellanos looking to the right next to a bust of Athena with a helmet and the coats of arms of the kingdoms of Spain. On the reverse, in greenish-blue, a reclining cherub with a sickle and the bust of Mercury with a winged helmet. The obverse was engraved by Domingo Martínez Aparisi and the reverse by Bartolomé Maura.
Banknote fact sheet
| Face value | 50 pesetas |
|---|---|
| Banknote date | January 2, 1898 |
| Pick Catalog | P-47 |
| Printer | Bank of Spain workshop, Madrid |
| Engravers | Domingo Martínez Aparisi (obverse) and Bartolomé Maura (reverse) |
| Mintage | 3,000,000 copies |
| Dimensions | 124 × 77 mm |
| Put into circulation | June 1898 |
| Watermark | Apollo head in profile and the value "50" |
| Signatures | Manuel de Eguilior, José Gurumeta, and Fernando Pérez Casariego |
| Obverse | Portrait of Jovellanos and bust of Athena with helmet and coats of arms of the kingdoms of Spain |
| Reverse | Reclining cherub with a sickle and bust of Mercury with a winged helmet, in greenish-blue |
How to know if yours is original
It is worth knowing this first and foremost, because there are many more reproductions than originals of Spanish banknotes from this era circulating: collector's prints from the seventies and eighties, catalog facsimiles, and press reprints.
This banknote was engraved and printed in the Bank of Spain workshop in Madrid, using intaglio technique on quality paper. This leaves specific marks that a modern reproduction does not have:
- Raised ink. Run your fingertip over the design, the numbers, and the letters of the title: on an original, you can feel the raised texture of the ink. An offset-printed facsimile is completely flat.
- Engraved line, not halftone dots. With a 10x magnifying glass, the original engraving is resolved 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 formed within the paper, not printed on top.
- Banknote paper, not photocopier paper. The original is durable, substantial 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 a bust of Athena with the coats of arms of Spain. On the reverse — a cherub with a sickle and Mercury with a winged helmet.
- Look for the head of Apollo. When held up to the light, the head of Apollo in profile and the value of the banknote should appear formed within the paper.
- Do not confuse it with the 1893 issue. The 50 pesetas banknote from 1893 is almost identical, but on the right of the obverse, it features an allegorical woman with a sword instead of the bust of Athena with the coats of arms.
- Keep the mintage in mind. 3,000,000 copies were printed, but that was over 120 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 king: those that appear clean and without tears are the ones that are truly interesting. Repairs (cleaning, 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 fit into a table. A generic number 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 with adhesive tape, and do not put it in soft PVC. All four are irreversible. I explain this in detail in the guide to selling old banknotes.
How I buy them 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 payment on the same day I receive and verify the item; if it does not match the photos, I return it at my expense.
I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it for insurance or inheritance purposes only, without buying anything, and I can manage the PMG grading or consignment for you.
You do not 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 see it at my shop in Gijón, at Calle Cabrales 77, by appointment.
Frequently asked questions
Who is on the 50 pesetas banknote from 1898?
Gaspar Melchor de Jovellanos, next to a bust of Athena with the coats of arms of the kingdoms of Spain. The reverse features a cherub with a sickle and Mercury with a winged helmet.
How many were printed?
3,000,000 copies were printed, but that was over 120 years ago and the vast majority were withdrawn and destroyed.
How do I know if mine is an original or a reproduction?
The quickest way: look at the design with a magnifying glass (continuous engraved line for an original, halftone dot pattern for a copy) and run your finger over the letters to look for relief. If you have any doubts, send me photos and I will tell you for free, even if it turns out to be a facsimile.
How much is the 1898 50 pesetas banknote worth?
It depends entirely on the specimen: condition, margins, and any repairs change 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.
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 value is a repair.
How do I distinguish it from the 1893 issue?
They are almost identical. In the 1898 note, on the right of the obverse, there is a bust of Athena with the coats of arms of the kingdoms of Spain; in the 1893 note, an allegorical woman with a sword. And the date is January 2, 1898.
The other banknotes of this issue
Other 50 pesetas banknotes from the Bank of Spain
If you are not quite sure which one yours is, 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 1886 — Goya
- 50 pesetas banknote from 1889 — Goya (second issue)
- 50 pesetas banknote from 1893 — 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 old Bank of Spain banknotes. If you have more pesetas saved at home, see which peseta banknotes and coins have value.
Send me a photo of the obverse and another of the reverse and I will tell you today what you have.
WhatsApp +34 644 54 98 79