Watch List notes:

(x) El Banco de Espana, a die proof of Mariano Fortuny, black and white, as used on the extremely rare 500 pesetas of 1938, a classic of the Spanish banknote series(cf Pick 92 for type), PCGS Currency 63PPQ Choice New. A pleasing Bradbury Wilkinson engraving, very rare.

Estimate: £300 - £400