World Banknote Auctions
Sale 43 18,21 May 2023
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Spain 1.6.1889 P-41 PMG Extremely Fine 40 100 Pesetas
An important offering from Spain, dating back to the 19th century. This note represents (almost) everything a collector would want: classic design, high face value (while higher denominations were in circulation at the time, this was the highest issued for the 1889 series) and fantastic condition for the type. What is particularly important to note is that this note is free of repairs and restorations, which makes it an anomaly among 19th century Spanish banknotes. To indicate how unusual it is to find an example without restorations, a survey of publicly available auction records going back to 2016 reveals just one other offering of this Pick number without any repairs or restorations. Collectors of today emphasize originality in their collections, and we expect premiums to increase for original notes, especially for 19th century Spain and other areas that are known for having "improved" their banknotes in the past. Unfortunately, the PMG population report does not differentiate between repaired versus original repaired notes, but we will make the argument that this is one of the very few XF's without repairs available to collectors.  The note itself is a wonderful example of this challenging type, part of a series that has the portrait of Francisco de Goya, placed here on the right. Light circulation is noted, as is to be expected, but the eye-appeal is tremendous. Important opportunity for the Spanish specialist. 
PMG Population in 40: 9 (3 Finer)
An important offering from Spain, dating back to the 19th century. This note represents (almost) everything a collector would want: classic design, high face value (while higher denominations were in circulation at the time, this was the highest issued for the 1889 series) and fantastic condition for the type. What is particularly important to note is that this note is free of repairs and restorations, which makes it an anomaly among 19th century Spanish banknotes. To indicate how unusual it is to find an example without restorations, a survey of publicly available auction records going back to 2016 reveals just one other offering of this Pick number without any repairs or restorations. Collectors of today emphasize originality in their collections, and we expect premiums to increase for original notes, especially for 19th century Spain and other areas that are known for having "improved" their banknotes in the past. Unfortunately, the PMG population report does not differentiate between repaired versus original repaired notes, but we will make the argument that this is one of the very few XF's without repairs available to collectors.  The note itself is a wonderful example of this challenging type, part of a series that has the portrait of Francisco de Goya, placed here on the right. Light circulation is noted, as is to be expected, but the eye-appeal is tremendous. Important opportunity for the Spanish specialist. 
PMG Population in 40: 9 (3 Finer)