1876 500-peseta banknote: what it is and what to do if you have one

Anverso del billete de 500 pesetas del Banco de España de 1876, Lope de Vega

If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 500 PESETAS, and the date July 1, 1876, this is what you have: the banknote cataloged as Pick-12 and Edifil 270.

Obverse of the 1876 Bank of Spain 500 pesetas banknote, Lope de Vega Reverse of the 1876 Bank of Spain 500 pesetas banknote
Obverse and reverse of the 1876 500 pesetas banknote. Image from the Banknote Mate (Catamates) catalog, used with permission.

It is part of the July 1, 1876 issue: the first Spanish series commissioned to the American Bank Note Company, dedicated entirely to Lope de Vega.

Here you will find who or what appears on it, how to distinguish it from those that look similar, how to check if yours is an original, and what to do if you want to sell it. You won't find prices here: I explain why below.

Lope de Vega: who is the face on this banknote

Félix Lope de Vega y Carpio (Madrid, 1562 - 1635) wrote so much that Cervantes called him a "monster of nature," and it wasn't entirely a compliment. He is credited with hundreds of plays, practically invented Spanish commercial theater, and lived a private life turbulent enough to fill as many more.

The 1876 issue is the only one in the entire 19th-century series dedicated entirely to a single figure: Lope appears on all three denominations. It was also the first Spanish series commissioned to the American Bank Note Company of New York, and the contrast is striking: the most Spanish of authors, engraved in the United States.

Banknote specification

Face value 500 pesetas
Date of issue July 1, 1876
Pick catalog P-12
Edifil catalog 270
Printer American Bank Note Company (United States)
Print run 150,000 copies
Dimensions 170 × 97 mm
Put into circulation —
Obverse Bust of Lope de Vega facing right next to a crowned woman with a shield and globe
Reverse Orange print with a steam locomotive and geometric designs
Signatures Manuel Cantero de San Vicente, Teodoro Rubio Castellanos, and Manuel Díaz Moreno de Vivar

How to know if yours is an 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 by the American Bank Note Company, the New York firm that printed a large portion of the world's paper money at the time. Their work is the easiest to distinguish in the entire series because its quality is far superior:

  • Engraved in very fine line steel. With a magnifying glass, the lines of the portrait are sharp and continuous, never a dot pattern.
  • Guilloche backgrounds with continuous tracing, generated by a geometric machine. These are practically impossible to reproduce well in a photographic copy: in a facsimile, they appear blurred or with moiré patterns.
  • Imprint of the American Bank Note Company, usually on the bottom edge. Take a picture of it: it is one of the first things I look at.
  • Intaglio relief perceptible to the touch on the portrait, numbers, and letters.

Specific checks for this banknote

  • Measure it. This banknote measures 170 × 97 mm. Photographic copies almost always lose two or three millimeters, so a ruler settles many doubts in ten seconds.
  • Check the exact motif. On the obverse — a bust of Lope de Vega facing right next to a crowned woman with a shield and globe. On the reverse — an orange print with a steam locomotive and geometric designs.
  • Look at the three signatures. On this banknote, they correspond to Manuel Cantero de San Vicente, Teodoro Rubio Castellanos, and Manuel Díaz Moreno de Vivar. A signature that doesn't match points to a different issue or a reproduction.
  • Keep the print run in mind. 150,000 copies were printed, but that was over 140 years ago and the vast majority were withdrawn and destroyed.

I will confirm it 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 will tell you today, no strings attached
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

What makes it worth more or less

With this banknote, as with the entire 19th-century series, preservation is key, followed closely by repairs: a specimen that has been washed, ironed, had tears taped, or had its margins trimmed loses a great deal, even if it "looks better."

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 bring 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 things are irreversible. I explain this in detail in my guide to selling antique banknotes.

How I buy them

You send me photos via WhatsApp — obverse, reverse, a detail of the serial number, and one backlit — 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 funds the same day I receive and verify the item; 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 for insurance or inheritance purposes, without any sale involved, and I can manage the PMG grading or consignment for you.

It doesn't matter where you live: I buy throughout Spain and the process is the same. If you are in Asturias, I can even come to see it at your home at no cost, or we can look at it calmly in my shop in Gijón, at Calle Cabrales 77, by appointment.

Frequently asked questions

Who is on the 500 pesetas banknote from 1876?
Lope de Vega. On the obverse — a bust of Lope de Vega facing right next to a crowned woman with a shield and globe.

How many were printed?
The print run was 150,000 copies. Be careful with a common misunderstanding: a high print run in the 19th century does not mean that many remain today. These banknotes were systematically withdrawn and destroyed, and what matters is how many survive, not how many were made.

How do I know if mine is an original or a reproduction?
The quickest way: look at the portrait with a magnifying glass (continuous engraved lines in an original, dot pattern in a copy) and run your finger over the letters looking 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 1876 500 pesetas banknote worth?
It depends entirely on the individual specimen: conservation, margins, and any repairs move the price drastically. I do not give blind figures because they 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, provided it is an original and has not been restored. In banknotes from this period, honest circulation is not a problem; what really penalizes the value is repairs.

The other banknotes in this issue

Other 500 pesetas banknotes from the Bank of Spain

If you aren't sure which one you have, compare it with these: they are all 500 pesetas but from different issues.

General guide: selling antique 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 will tell you today what you have.
WhatsApp +34 644 54 98 79

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¿Prefieres venderlo en consignación?

Además de comprártelo, puedo venderlo por ti en consignación. Es la forma de sacar más dinero por tu colección: la ofrezco a los compradores que más pagan por cada pieza, porque llevo diez años construyendo una base de datos de compradores segmentada y sé a quién ofrecer cada billete o moneda.

Yo cobro un porcentaje de la venta, así que cuanto mejor la vendo, más ganas tú. La contrapartida es el tiempo: encontrar al comprador que más paga lleva más que una compra directa. Por eso es ideal si no tienes prisa por vender.

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Te atiendo en mi tienda de Gijón, Calle Cabrales 77, junto al Parque de Begoña, con cita previa. Y si vives lejos, en cualquier concejo de Asturias voy a tu casa gratis después de ver unas fotos.

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