Watch List notes:

500 pesetas. January 1, 1937. Bilbao branch, formerly owned by Caja de Ahorros and Monte de Piedad Municipal de Bilbao. Without series and without numbering, with both matrices. (Edifil 2017: NE26h). Very rare in this exceptional conservation. AU. Package PMG58EPQ. (To get an idea of the rarity of this banknote in this quality, PMG gives the ninth best rating on December 28, 2020).