Watch List notes:

(x) El Banco de Espana, 100 pesetas, 1 June 1889, serial number 0587925, dark grey on pale orange underprint, portrait Francisco Goya in circular frame at right, allegorical figure at left, reverse, brown, woman and cherub at centre(Pick 41), in PMG holder 40, extremely fine, NET, folder states 'repaired'.

Estimate: £1500 - £2000