Watch List notes:

25 pesetas. July 24, 1893. Without series. (Edifil 2021: 300, Pick: 42). Rare especially in this high quality. Extremely Fine. PMG40 package. (The lower right corner has a minimal repair professionally carried out, which does not affect the spectacularity of the banknote (color, conservation and presence), so much so that PMG has either not detected it (the repair is in the margin, outside the drawing ) or you have overlooked it (the grade for a note of this quality is unusually low).