1880 500-peseta banknote: what it is and what to do if you have one
If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, 500 PESETAS, and the date April 1, 1880, this is what you have: the banknote cataloged as Pick-22 and Edifil 280.
It is part of the April 1, 1880 issue: four denominations engraved in Madrid, featuring painters and writers on the obverse.
Here you will find out who or what appears on it, how to distinguish it from similar-looking notes, how to check if yours is original, and what to do if you want to sell it. You won't find prices here: I explain why further down.
Claudio Coello: who is the face on this banknote?
Claudio Coello (Madrid, 1642 - 1693) was the last great painter of the Habsburg court and court painter to Charles II. His best-known work, The Sacred Form, is in the sacristy of El Escorial and is an exercise in perspective that continues to amaze.
On the banknote, he is shown looking to the right, accompanied by a seated allegorical woman with a cornucopia and a ship in the background; the reverse features a country scene inside an oval medallion. It is one of the most beautiful reverses of the entire 19th-century series, and one of the hardest to appreciate in a photocopy.
Banknote Details
| Face value | 500 pesetas |
|---|---|
| Banknote date | April 1, 1880 |
| Pick catalog | P-22 |
| Edifil catalog | 280 |
| Printer | Bank of Spain workshop, Madrid |
| Print run | 150,000 copies |
| Dimensions | 173 × 100 mm |
| Put into circulation | — |
| Obverse | Claudio Coello looking to the right, with a seated allegorical woman holding a cornucopia and a ship in the background |
| Reverse | Light violet print with a country scene in a central oval medallion |
How to tell if yours is an original
It is worth knowing this first and foremost, because far more reproductions than originals are in circulation for Spanish banknotes of this era: 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 linen paper. That leaves specific marks that a modern reproduction does not have:
- Raised ink to the touch. Run your fingertip over the portrait, the numbers, and the letters of the title: in an original, you can feel the raised texture of the ink. An offset-printed facsimile is completely flat.
- Engraved lines, not a screen pattern. With a 10x magnifying glass, the original portrait is rendered in fine, continuous lines. If you see a grid of dots, it is modern printing.
- Watermark in the pulp. When held up to the light, it should appear formed within the paper, not printed on top.
- Cotton linen paper, rough and crisp when shaken. Modern coated paper is smooth and cold.
Specific checks for this banknote
- Measure it. This banknote measures 173 × 100 mm. Photographic copies almost always lose two or three millimeters, so a ruler settles many doubts in ten seconds.
- Check the exact design. On the obverse — Claudio Coello looking to the right, with a seated allegorical woman holding a cornucopia and a ship in the background. On the reverse — light violet print with a country scene in a central oval medallion.
- 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 can 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 can tell you today, no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com
What makes it worth more or less
For this banknote, as with the entire 19th-century series, condition is king, followed closely by repairs: a washed, pressed, taped, or trimmed-margin copy loses a great deal of value, 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 cause disappointment. Send me photos and I will value your banknote, not "one like yours."
And before showing it to anyone: do not press it, do not wash it, do not tape anything, and do not put it in soft PVC. All four are irreversible actions. I explain this in detail in the guide to selling antique banknotes.
How I buy them from you
You send me photos via WhatsApp—obverse, reverse, a detail of the numbering, 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, providing a firm offer. I pay for shipping, and I transfer the funds the same day I receive and verify the piece; if it does not match the photos, I will return it to you at my own shipping expense.
I am Fran, from Iberoamericana Banknotes, a PMG authorized dealer. I can also value it solely for insurance or inheritance purposes, without selling anything, and I can manage your PMG grading or consignment.
I buy throughout Spain, no matter where you live, and the process is always the same. If you are nearby, in any municipality in Asturias I will come to see it at your home at no cost, and you can also bring it to my store in Gijón, on Calle Cabrales 77, by appointment.
Frequently Asked Questions
Who is on the 1880 500 pesetas banknote?
Claudio Coello. On the obverse — Claudio Coello looking to the right, with a seated allegorical woman holding a cornucopia and a ship in the background.
How many were printed?
The print run was 150,000 copies. Be careful with a common confusion: a high print run in the 19th century does not mean that many remain today. These banknotes were systematically withdrawn and destroyed, and what counts 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 doubts, send me photos and I will tell you for free, even if it turns out to be a facsimile.
How much is the 1880 500 pesetas banknote worth?
It depends entirely on the specific specimen: the condition, the margins, and any repairs move the price drastically. I do not give out 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 has not been restored. For banknotes of this era, honest circulation is not a problem; what really penalizes value is repair work.
The other banknotes from this issue
- 1880 50 pesetas banknote — Campomanes
- 1880 100 pesetas banknote — Quevedo
- 1880 1000 pesetas banknote — Murillo
Other 500 pesetas banknotes from the Bank of Spain
If you aren't sure which one is yours, compare it to these: they are all 500 pesetas but from different issues.
- 1874 500 pesetas banknote — Goya
- 1875 500 pesetas banknote — the female allegories
- 1876 500 pesetas banknote — Lope de Vega
- 1878 500 pesetas banknote — Pablo de Céspedes
- 1884 500 pesetas banknote (January issue) — Mendizábal
- 1884 500 pesetas banknote (July issue) — Floridablanca
- 1886 500 pesetas banknote — Goya
- 1903 500 pesetas banknote — Mercury
- 1907 500 pesetas banknote (January issue) — "the medallion"
- 1907 500 pesetas banknote (July issue) — Alcázar of Segovia
- 1927 500 pesetas banknote — Isabella the Catholic
- 1928 500 pesetas banknote — Cardinal Cisneros
- 1931 500 pesetas banknote — Juan Sebastián Elcano
- 1935 500 pesetas banknote — Hernán Cortés
- 1936 500 pesetas banknote (Burgos) — Salamanca Cathedral
- 1938 500 pesetas banknote (Burgos) — Santiago Cathedral
- 1940 500 pesetas banknote (January issue) — John of Austria
- 1940 500 pesetas banknote (October issue) — The Burial of the Count of Orgaz
- 1946 500 pesetas banknote — Francisco de Vitoria
- 1951 500 pesetas banknote — Mariano Benlliure
- 1971 500 pesetas banknote — Jacinto Verdaguer
General guide: selling antique 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 will tell you today what you have.
WhatsApp +34 644 54 98 79