Spain Banco de Espana 500 Pesetas 1.4.1880 Pick 22 PMG Very Fine 25. At left on this 500 Peseta note is the portrait of Claudio Coello, a celebrated Spanish Baroque painter. The entire issue featured oversized portraits, was a short-lived, and is now highly prized. Colorful fibers are inlaid along the right third of the note, over a denomination watermark. The printed inks are also bold and bright, set perfectly against the creamy white paper. Some tears are noted by PMG, along with some pencil on back. In 2016, we sold a Very Fine 30 with restorations for more than $25,000. While this piece is slightly lower in grade, its originality might carry it well beyond our estimate.

HID09801242017

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