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| 正面描述 | Printed in black with a greenish-blue and yellow underprint; a central oval vignette at top presents an allegorical female figure wearing a helmet, reclining against the Spanish royal coat of arms, holding a spear, with a lion at her feet. Black serial number appears in the text area, and the composition is framed by intricate geometric guilloche ornaments. The date "1º de Mayo de 1862" and the issuing authority are inscribed across the face. |
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| 正面铭文 | 100 EL BANCO DE ESPAÑA pagará al portador CIEN reales vellón en efectivo MADRID 1º de Mayo de 1862. El Gobernador Por la Intervencion Por la Caja (Translation: The Bank of Spain will pay the bearer One Hundred Reales vellon in cash Madrid, May 1, 1862. The Governor For the Intervention For the Cash) |
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The Banco de España's 1862 emission came during a period when the bank held a regional monopoly on note issue in Madrid but had not yet achieved national exclusivity — that came only with the 1874 decree that transformed the institution into Spain's sole bank of issue. Notes from this earlier period circulated alongside those of provincial banks in Barcelona, Bilbao, and elsewhere, which created persistent public confusion about what was and wasn't legal tender outside Madrid.
The reales de vellón denomination itself was already an anachronism by 1862. Spain had adopted the escudo system that same year, making this emission transitional — issued under one accounting unit, redeemed under another.