100 Reales de Vellón Banco de Málaga

The Banco de Málaga was one of a cluster of provincial Spanish banks granted limited note-issuing rights under the 1856 banking law, which briefly liberalized what had previously been a near-monopoly held by the Banco de España's predecessors. Most of these provincial institutions were absorbed or forced out of business by 1874, when the Banco de España was granted exclusive issuance rights across Spain — making the operational window for notes like this a narrow eighteen years at most.

Perkins, Bacon & Petch had been engraving intaglio security printing for colonial and provincial banks across multiple continents for decades by 1860. The choice of a London printer for a Málaga-issued note was entirely conventional for mid-century Spanish provincial banking, where domestic security printing infrastructure was inadequate for the task.