100 Reales de Vellón Banco de Cádiz

The Banco de Cádiz was one of a handful of provincial Spanish banks authorized to issue notes under the 1856 banking legislation, which broke the near-monopoly the Banco de España had previously enjoyed. Cádiz, as a major Atlantic port with deep commercial ties to Latin America, was a natural seat for a regional issuing institution. The bank's existence was short — the 1874 decree that restored exclusive issuing rights to the Banco de España forced its liquidation along with most of its provincial peers.

Pick S291 is among the scarcer survivors of that forced closure; most outstanding notes were either redeemed or destroyed in the wind-down process.