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 who or what is depicted 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 won't find prices here: I explain why below.
Claudio Coello: who is the face on this banknote
Claudio Coello (Madrid, 1642 - 1693) was the last great painter of the Habsburg court and chamber painter to Charles II. His most famous 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 an allegorical woman seated with a cornucopia and a ship in the background; the reverse bears a country scene inside an oval medallion. It is one of the most beautiful reverses of the entire 19th-century series, and one of those that is least appreciated in a photocopy.
Banknote Profile
| Face value | 500 pesetas |
|---|---|
| Date of issue | 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 an allegorical woman seated 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 period: collector 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 the intaglio technique on linen paper. This leaves specific marks that a modern reproduction does not have:
- Raised ink. Pass your fingertip over the portrait, 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 portrait is rendered in 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, 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 resolves many doubts in ten seconds.
- Check the exact motif. On the obverse — Claudio Coello looking to the right, with an allegorical woman seated 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 will confirm it for you for free. If it turns out to be a reproduction, I will tell you regardless: I gain nothing by having you believe otherwise.
Original or facsimile? I can tell you today, with 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 specimen that has been washed, ironed, has glued tears, or has trimmed margins loses significant 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 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 scotch 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 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 reply in less than 24 hours telling you what you have and, if I am interested, with a firm offer. I pay for shipping, and I transfer the money the same day I receive and verify the piece; if it does not match the photos, I will send it back at my own 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 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 council in Asturias, I will come to your home to see it at no cost, and you can also bring it to my shop in Gijon, on Calle Cabrales 77, by appointment.
Frequently Asked Questions
Who is featured on the 1880 500 peseta banknote?
Claudio Coello. On the obverse — Claudio Coello looking to the right, with an allegorical woman seated holding a cornucopia and a ship in the background.
How many were printed?
The print run was 150,000 copies. Beware of 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 counts is how many survive, not how many were made.
How do I know if mine is an original or a reproduction?
The fastest way: look at the portrait with a magnifying glass (continuous engraved line on an original, dot matrix 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 1880 500 peseta banknote 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, provided it is an original and has not been restored. For banknotes of this era, honest circulation is not a problem; what is truly penalizing is repair.
The other banknotes in this issue
- 1880 50 peseta banknote — Campomanes
- 1880 100 peseta banknote — Quevedo
- 1880 1000 peseta banknote — Murillo
Other 500 peseta banknotes from the Bank of Spain
If you aren't quite sure which one is yours, compare it to these: they are all 500 pesetas but from different issues.
- 1874 500 peseta banknote — Goya
- 1875 500 peseta banknote — female allegories
- 1876 500 peseta banknote — Lope de Vega
- 1878 500 peseta banknote — Pablo de Céspedes
- 1884 500 peseta banknote (January issue) — Mendizábal
- 1884 500 peseta banknote (July issue) — Floridablanca
- 1886 500 peseta banknote — Goya
- 1903 500 peseta banknote — Mercury
- 1907 500 peseta banknote (January issue) — "the medallion"
- 1907 500 peseta banknote (July issue) — the Alcázar of Segovia
- 1927 500 peseta banknote — Isabella the Catholic
- 1928 500 peseta banknote — Cardinal Cisneros
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 will tell you today what you have.
WhatsApp +34 644 54 98 79