1927 50-peseta banknote (Alfonso XIII): what it is and if yours is worth anything
If you are holding a banknote that reads EL BANCO DE ESPAÑA, 50 PESETAS, and is dated May 17, 1927, this is what you have: the banknote cataloged as Pick-72.
It is part of the 1926-1927 issue, three banknotes printed in England by Bradbury Wilkinson: Saint Francis Xavier on the 25 pesetas note, King Alfonso XIII on the 50, and Queen Isabella the Catholic on the 500.
Here you will find out who or what appears on it, how to distinguish it from similar-looking 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 further down.
Alfonso XIII: who is the face on this banknote
Alfonso XIII (Madrid, 1886 - Rome, 1941), King of Spain until the proclamation of the Second Republic in 1931. His portrait appears on the left of the obverse along with the Royal Palace of Madrid.
The reverse reproduces the painting Founding of Buenos Aires by D. Juan de Garay, by José Moreno Carbonero, which is preserved in the Municipal Palace of Buenos Aires.
Banknote specification
| Face value | 50 pesetas |
|---|---|
| Date of issue | May 17, 1927 |
| Pick catalog | P-72 |
| Printer | Bradbury Wilkinson & Co., New Malden (England) |
| Series | None |
| Signatures | Carlos Vergara Cailleaux, Adolfo Castaño Orejón, and Bonifacio Burgos Delgado |
| Obverse | Alfonso XIII and the Royal Palace of Madrid |
| Reverse | "Founding of Buenos Aires by D. Juan de Garay", painting by José Moreno Carbonero |
How to tell if yours is original
Many originals of this banknote have been preserved, but there are also reproductions in circulation: collector's sheets from the seventies and eighties, catalog facsimiles, and press reprints. It is worth ruling this out first of all.
This banknote was printed in England by the Bradbury Wilkinson firm, one of the world's great banknote printers, using intaglio printing (steel engraving) technique. That leaves specific marks that a modern reproduction does not have:
- Raised ink/texture. Run your fingertip over the design, the numbers, and the title letters: on an original, you can feel the raised ink. A facsimile printed via offset 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 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 resistant, substantial paper that sounds crisp when shaken. Modern coated paper is smooth and cold.
Specific checks for this banknote
- Check the exact design. On the obverse — Alfonso XIII and the Royal Palace. On the reverse — the painting of the founding of Buenos Aires.
- Look for the dry seal. Some specimens bear an embossed seal without ink: this is the validation done by the Second Republic in 1931 to keep them in circulation. It can be seen with the naked eye and felt by gently running your fingers over it. Stamped and non-stamped are different catalog variants.
- See if the king's portrait is covered. There is a version of this same banknote with a "Spanish Republic" stamp printed over the portrait of Alfonso XIII. It is another cataloged banknote (Pick-80), not a defect or an addition.
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
Is your banknote worth anything? Most likely not
I am being direct because it is what I am 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. Most likely, if yours has circulated, it is worth nothing or next to nothing.
To know if it is truly perfect, look at it under tangential light: turn off the ceiling light, place a lamp or use light from a side window, almost grazing the surface of the banknote, and tilt it slowly. This reveals folds, marks from having been folded, and pressed areas that are not visible head-on. A banknote that looks new at first glance often has a fold in the center.
This banknote is hard to find in high grades. That means exactly what I am telling you: there are many in circulation, very few perfect ones, and the value lies in those few.
I do not publish price ranges, and I will explain why: the value depends entirely on the specific specimen, and that cannot fit into 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 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
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 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 piece; if it does not match the photos, I will return it to you at my expense.
I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it for insurance or inheritance purposes without buying it, and I can manage your PMG grading or consignment.
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 at no charge for the visit, or we can meet at my shop in Gijon, at Calle Cabrales 77, by appointment.
Frequently Asked Questions
Who is on the 1927 50 pesetas banknote?
King Alfonso XIII, along with the Royal Palace of Madrid. The reverse features the painting of the founding of Buenos Aires by Juan de Garay, by José Moreno Carbonero.
How do I know if mine is original or a reproduction?
The fastest way: look at the image with a magnifying glass (continuous engraved line for an original, halftone dot pattern for a copy) and run your finger over the letters looking for texture. 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 1927 50 pesetas banknote worth?
Usually little or nothing. Many of these are preserved, and except for rare exceptions, only perfect specimens have value: no stains, folds, or tears. Look at it under tangential light—light from the side grazing the banknote—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?
Generally no. There are so many of these that a specimen with folds, stains, or tears is not marketable among collectors. I am only interested in those that are perfect or rare variants. If you are in doubt, send me photos and I will tell you without any obligation.
What is the 1927 50 pesetas banknote with the Republic stamp?
It is the same banknote with a "Spanish Republic" stamp printed over the King's portrait, so that it could continue circulating after 1931. It is cataloged separately as Pick-80.
The other banknotes in this issue
Other 50 pesetas banknotes from the Banco de España
If you are not sure which one you have, compare it with these: they are all 50 pesetas but from different issues.
- 1874 50 pesetas banknote — Rafael Esteve
- 1875 50 pesetas banknote — Allegories of Commerce
- 1878 50 pesetas banknote — Calderón de la Barca
- 1880 50 pesetas banknote — Campomanes
- 1884 50 pesetas banknote (January issue) — Mendizábal
- 1884 50 pesetas banknote (July issue) — Bravo Murillo
- 1886 50 pesetas banknote — Goya
- 1889 50 pesetas banknote — Goya (second issue)
- 1893 50 pesetas banknote — Jovellanos
- 1898 50 pesetas banknote — Jovellanos
- 1899 50 pesetas banknote — Quevedo
- 1902 50 pesetas banknote — Velázquez
- 1905 50 pesetas banknote — Echegaray
- 1906 50 pesetas banknote — Allegory with caduceus
- 1907 50 pesetas banknote — Burgos
- 1928 50 pesetas banknote — Velázquez and the Prado Museum
- 1931 50 pesetas banknote — Eduardo Rosales
- 1935 50 pesetas banknote — Santiago Ramón y Cajal
General guide: selling old 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 another of the reverse and I will tell you what you have today.
WhatsApp +34 644 54 98 79