1928 500 peseta banknote (Cardinal Cisneros): what it is and if yours is worth anything

Anverso del billete de 500 pesetas del Banco de España del 15 de agosto de 1928, el cardenal Cisneros

If you have a banknote in front of you that reads EL BANCO DE ESPAÑA, 500 PESETAS and is dated August 15, 1928, this is what you have: the banknote cataloged as Pick-77.

Obverse of the 500 pesetas banknote of the Bank of Spain dated August 15, 1928, Cardinal Cisneros Reverse of the 500 pesetas banknote of the Bank of Spain dated August 15, 1928
Obverse and reverse of the 500 pesetas banknote dated August 15, 1928. Image from the Banknote Mate (Catamates) catalog, used with permission.

It is part of the August 15, 1928 issue, the last major series dated during the reign of Alfonso XIII: five banknotes printed by Bradbury Wilkinson and dedicated to great figures of Spanish history and culture (Calderón, Velázquez, Cervantes, Cisneros, and Ferdinand III). Several did not enter circulation under the King: they hit the streets during the Second Republic, and in huge quantities.

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 won't find prices: I explain why below.

Cardinal Cisneros: who is the face on this banknote

Francisco Jiménez de Cisneros (Torrelaguna, 1436 - Roa, 1517), Archbishop of Toledo, Regent of Castile, and founder of the University of Alcalá. His portrait appears on the obverse alongside the Cathedral of Toledo.

The reverse reproduces the painting Cardinal Jiménez de Cisneros Freeing the Captives of Oran, by Francisco Jover y Casanova, which is preserved in the Senate Palace in Madrid.

Banknote fact sheet

Face value 500 pesetas
Banknote date August 15, 1928
Pick catalog P-77
Printer Bradbury Wilkinson & Co., New Malden (England)
Series No series
Signatures Carlos Vergara Cailleaux, Adolfo Castaño Orejón, and Bonifacio Burgos Delgado
Obverse Cardinal Cisneros and the Cathedral of Toledo
Reverse "Cardinal Jiménez de Cisneros Freeing the Captives of Oran", by Francisco Jover y Casanova

How to know if yours is original

Many originals of this banknote are preserved, but there are also reproductions in circulation: collector's prints from the seventies and eighties, catalog facsimiles, and press reprints. It is advisable to rule 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 technique. This leaves specific marks that a modern reproduction does not have:

  • Relief to the touch. Run your fingertip over the design, the figures, and the letters of the title: on an original, you can feel the raised ink. An offset-printed facsimile is completely flat.
  • Engraved line, not a dot pattern. 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 a durable, substantive paper that makes a sound when shaken. Modern coated paper is smooth and cold.

Specific checks for this banknote

  • Check the exact motif. On the obverse — Cardinal Cisneros and the Cathedral of Toledo. On the reverse — Cisneros freeing the captives of Oran.
  • Even though it is dated 1928, it circulated with the Republic. That is normal: this banknote only entered circulation during the Second Republic.
  • Don't confuse it with the 1927 one. The 500 pesetas banknote of 1927 features Isabella the Catholic and the Alhambra. This one, from 1928, features Cisneros.

I will 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'll let you know today, no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

Is your banknote worth anything? The most likely answer is no

I'll be blunt with you, because it's what I'm asked most: 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: without stains, folds, tears, or worn corners. Usually, if yours has circulated, it is worth nothing or almost nothing.

To find out if it really is perfect, look at it under tangential light: turn off the ceiling light, put a lamp or a window light from the side, almost skimming the banknote, and tilt it slowly. This is how creases, marks from having been folded, and pressed areas appear, which cannot be seen from the front. A banknote that looks new at first glance often has a fold in the center.

I do not publish price ranges, and I explain why: the value depends entirely on the specific specimen, and that does not fit in 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 iron it, do not wash it, do not tape anything with adhesive 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 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 close-up of the serial number, and one held up to the light—and I will answer you 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 funds on the same day I receive and verify the item; if it does not match the photos, I will return it to you and pay for the return postage.

I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it for insurance or inheritance purposes, without selling anything, and I can manage the grading by PMG 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 also go to your house to see it at no cost, or we can look at it calmly in my Gijón store, at Calle Cabrales 77, by appointment.

Frequently asked questions

Who is on the 500 pesetas banknote of 1928?
Cardinal Cisneros, along with the Cathedral of Toledo. The reverse features Cisneros freeing the captives of Oran, a painting by Francisco Jover y Casanova.

How do I know if mine is an original or a reproduction?
The fastest way: look at the design with a magnifying glass (continuous engraved line for an original, dot pattern for a copy) and run your finger over the letters looking for relief. If you have doubts, send me photos and I'll tell you for free, even if it turns out to be a facsimile.

How much is the 500 pesetas banknote of 1928 worth?
Most of the time it is little to nothing. Many of these banknotes are preserved and, except for rare exceptions, only perfect specimens have value: without stains, folds, or tears. Look at it under tangential light, a light from the side that skims the banknote, to see if it has folds. If it is perfect, send me photos and I'll tell you what it's worth.

Do you buy it even if it has circulated?
Usually no. There are so many of these banknotes that a specimen with folds, stains, or tears has no interest among collectors. I am only interested in those that are perfect or rare variants. If you have doubts, send me photos and I'll tell you with no obligation.

The other banknotes from this issue

Other 500 pesetas banknotes from the Bank of Spain

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

General guide: selling old Bank of Spain 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'll tell you today what you have.
WhatsApp +34 644 54 98 79

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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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