100 Escudos

The Banco de España's 1866 Escudo-denomination notes belong to a brief and administratively awkward period in Spanish monetary history. The Escudo replaced the Real at a rate of 10 Reales to 1 Escudo in 1864, only to be swept aside itself in 1868 when the Peseta system was introduced following the Glorious Revolution that toppled Isabella II. This note existed as a denomination for barely four years.

MacLure, MacDonald & Co. was a Glasgow-based lithographic firm, which makes the London printing attribution worth noting — the company had operations and commercial relationships in both cities during this period. The lithographic quality of surviving examples is generally high, though the paper stock has proven prone to toning along fold lines over time.