Watch List notes:

500 pesetas. January 1, 1937. Bilbao branch, signed by Banco del Comercio. Without Series and without numbering, with both matrices. (Edifil 2017: NE26c). Very rare in this exceptional conservation. UNC. Packaged PMG65EPQ. (To get an idea of the rarity of this banknote in this quality, PMG gives the second best rating on December 28, 2020, sharing it with two other banknotes).