1951 500 peseta banknote (Benlliure): what it is and if yours is worth anything

If you have in front of you a banknote that reads EL BANCO DE ESPAÑA, QUINIENTAS PESETAS, and the date November 15, 1951, this is what you have: the banknote cataloged as Pick-142 (Edifil 460), the Mariano Benlliure banknote.

Obverse of the 500 pesetas Banco de España banknote dated November 15, 1951, featuring the portrait of Mariano Benlliure Reverse of the 500 pesetas Banco de España banknote dated November 15, 1951
Obverse and reverse of the 500 pesetas banknote dated November 15, 1951. Image from the Banknote Mate (Catamates) catalog, used with permission.

It is the 500 pesetas banknote that was most commonly seen in Spain during the fifties and sixties, because it was in circulation for many years. It was manufactured by the Fábrica Nacional de Moneda y Timbre, it was put into circulation on September 16, 1952, and over thirty million were printed. That is why it frequently appears in inheritances and drawers.

Here you will find who or what appears on it, how to distinguish it from similar ones, how to check if yours is original, and what to do if you want to sell it. You will not find prices here: I explain why below.

Mariano Benlliure: who is the face on this banknote

Mariano Benlliure (Valencia, 1862 - Madrid, 1947), one of the most important Spanish sculptors of his time: he is responsible for, among many others, the equestrian monuments to General Martínez Campos in El Retiro and to Alfonso XII in Madrid. On the obverse, he appears on the left, older, with round glasses and a white mustache, and his name at the bottom.

On the reverse, one of his best-known works: the tomb of the tenor Julián Gayarre in the Roncal Valley, in Navarre, with which Benlliure won the Medal of Honor at the 1900 Paris Universal Exposition. At the bottom, it reads "Sepulcro de Gayarre en el Roncal, obra de Benlliure" (Tomb of Gayarre in the Roncal, work by Benlliure).

Banknote fact sheet

Face value 500 pesetas
Banknote date Madrid, November 15, 1951
Pick catalog P-142
Edifil 460
Printer Fábrica Nacional de Moneda y Timbre, Madrid
Paper Papeteries de Rives (France)
Dimensions 146 × 95 mm
Series No series (10 million), A and B (20 million each) and C (about 2.9 million)
Put into circulation September 16, 1952
Signatures Joaquín Benjumea Burín, Antonio Victoriano Martín Martín and Joaquín Serrano
Engraving Camilo Delhom, based on a design by José Luis López Sánchez-Toda
Watermark Roman-style laureated head
Obverse Mariano Benlliure
Reverse Tomb of Julián Gayarre in the Roncal, work by Benlliure

How to know if yours is original

Special care must be taken here. In addition to the usual sheets and facsimiles, official replicas of this banknote were made and sold with newspapers and collectibles. They bear the legend "Reproducción autorizada" and many have the serial number 0000000. They are legal, but they are not banknotes. Discard that first and then check the rest:

  • Tactile relief. Run your fingertip over the portrait and the letters of "QUINIENTAS PESETAS": on an original intaglio print, you can feel the ink's raised texture. A printed copy is completely flat.
  • Engraved line, not a dot matrix. With a ten-power magnifying glass, the portrait is resolved into fine, continuous lines. If you see a grid of color dots, it is a modern print.
  • Watermark in the pulp. When held up to the light, in the unprinted white area, a head should appear formed within the paper, with soft shadows, not drawn on top.
  • Banknote paper, not photocopier paper. The original is a durable paper with body that crinkles when shaken. Modern coated paper is smooth, shiny, and cold to the touch.

Specific checks for this banknote

  • Look for any reproduction legend. Review the entire banknote, including the margins and the reverse, looking for "Reproducción", "Facsímil", or similar. A number consisting entirely of zeros is another sign of a replica.
  • Check the numbering. In red, once on the obverse under "Quinientas pesetas" and four times on the reverse, with or without a series letter in front (for example, "A6005630").
  • Look for the printer's mark. Below the frame on the obverse, in tiny print, "Fca. Nal. de Moneda y Timbre".
  • Look at the white oval on the right. When held up to the light, the watermark should appear there: a laureated head in profile, formed inside the paper.

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'll tell you today, no obligation
WhatsApp +34 644 54 98 79
info@iberoamericanabanknotes.com

Is your banknote worth anything? Most likely very little

I am telling you clearly, because it is what I am asked most often: there are tons of these banknotes. Millions were printed and many families kept one in a drawer. Except for rare exceptions, they only have value if they are perfect: no stains, no folds, no tears, and no worn corners. It is most likely that yours, if it has circulated, is worth nothing or almost nothing.

To know if it is truly perfect, look at it with grazing light: turn off the ceiling light, put a lamp or window light from the side, almost brushing the banknote, and tilt it slowly. This is how creases, fold marks, and ironed areas appear, which cannot be seen from the front. A banknote that at first glance looks new often has a fold in the center.

What is worth checking is the series letter. The banknotes without a series and those in series A and B were printed in the tens of millions. The C series, however, stayed under three million: if yours has a C in front of the number and is well preserved, send it to me.

I do not publish price ranges, and here is 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 belongs to the C series, the process is simple.

You send me photos via WhatsApp—obverse, reverse, a detail of the numbering, 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 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 postage.

I am Fran, from Iberoamericana Banknotes, an authorized PMG dealer. I can also value it just for insurance or inheritance, without selling anything, and I can manage the PMG grading or consignment for you.

You do not need to live nearby: I buy all over Spain using this same system. And if you are from Asturias, I can come to your home without charging you for the visit, or we can see it at my shop in Gijón, at Calle Cabrales 77, by appointment.

Frequently Asked Questions

Who is on the 500 pesetas banknote from 1951?
Mariano Benlliure, the Valencian sculptor. On the reverse, one of his works appears: the tomb of the tenor Julián Gayarre in the Roncal Valley (Navarre).

Which series is rarer?
It was issued without a series and with series A, B, and C. The C series is the shortest, with fewer than three million banknotes, and is the most sought after. Look at the letter that precedes the number.

My banknote says "Reproducción autorizada", is it worth anything?
Not as a banknote. It is one of the official replicas that were sold with newspapers and collectibles, many with the serial number 0000000. They are legal and nice, but they are not real banknotes.

Can I exchange it at the Banco de España?
No. Pesetas could no longer be exchanged as of 2021, and this banknote had already lost its legal tender status much earlier. Today, it only has collectible value.

How do I know if mine is original or a reproduction?
The fastest way: look at the design 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 500 pesetas banknote from 1951 worth?
The most normal thing is little to nothing. So many of these banknotes have been preserved that, with rare exceptions, only perfect specimens have value: without stains, folds, or tears. Look at it with grazing light, a light from the side brushing the banknote, to see if it has creases. 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?
Usually no. There are so many of these banknotes that a specimen with folds, stains, or tears has no outlet among collectors. I am only interested in those that are perfect or rare variants. If you have doubts, send me photos and I will tell you without obligation.

Other banknotes dated 1951

That year, the Banco de España dated several other banknotes. If you have any, send me photos just as you would with this one:

  • 1 peseta banknote from 1951 — Lady of Elche
  • 5 pesetas banknote from 1951 — Jaime Balmes
  • 50 pesetas banknote from 1951 — Santiago Rusiñol
  • 1000 pesetas banknote from 1951 — Joaquín Sorolla

Other 500 pesetas banknotes from the Banco de España

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

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'll tell you today what you have.
WhatsApp +34 644 54 98 79

Back to blog

Leave a comment

¿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.

¿Prefieres traerlo a mi tienda de Gijón?

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.

Escríbeme por WhatsApp: +34 644 54 98 79