Watch List notes:

500 pesetas. February 19, 1946. No series. (Edifil 2021: 452, Pick: 132a). Very rare in this quality. Good Extremely Fine. PMG58 encapsulation. (We warn that the upper margin could have been guillotined, a circumstance that PMG does not value, in any case we are forced to highlight it and adjust the starting price to this possibility)