Watch List notes:

(x) El Banco de Espana, 100 pesetas, 1 January 1884, blue serial number 185699, black on pale orange underprint, cherubs top centre, portrait Juan Alvarez de Mendizabal at right, reverse, dark orange, value at each corner and at centre(Pick 26), in ICG holder 30 Very Fine, fresh and original, a pleasing example and rare.

Estimate: £1600 - £2000