100 Reales de Vellón Banco de Cádiz

The Banco de Cádiz was one of a wave of provincial Spanish banks chartered under the 1856 banking law, which briefly allowed regional institutions to issue their own notes. That experiment ended with the 1874 decree granting the Banco de España a national monopoly, after which all provincial issues were called in. Notes from Cádiz were circulating in one of Spain's busiest Atlantic ports, a city that had been a primary conduit for American trade since the colonial period — but by 1862 that commercial dominance was already fading.

Surviving examples of this series are genuinely scarce; the provincial banks issued in relatively small volumes, and the mandatory 1874 redemption eliminated much of the stock.