Watch List notes:

El Banco de Espana, 50 pesetas, 19 March 1905, red serial number 2592340, black and pale ochre, José Echegary at left, wreath at left and right, , reverse dark green, cherubs at upper centre,(Pick 56), in PCGS holder 40 Extremely Fine, minor repairs, pressed, a pleasing example and rare.

Estimate: £1,200 - £1,600