Watch List notes:

Banco de España, 25 Pesetas, Madrid, 17th May 1899, serial number M032180, blue on green underprint, Francisco de Quevedo at left, reverse, reddish-brown, Atenea's head at centre, Mercury at right, watermark, Apollo's head,(Pick 49), in 64 choice uncirculated, Hdez & Dguez Family Collection, sold first time in an auction of this quality.

Estimate: £2,500 - £3,500