200 Reales de Vellón Banco de Málaga

The Banco de Málaga was one of Spain's short-lived provincial banks of issue, chartered under the 1856 banking law that briefly permitted regional institutions to print their own currency. That experiment ended when the Banco de España was granted a national monopoly in 1874, at which point all outstanding provincial notes were called in and converted — a process that eliminated the vast majority of surviving examples through official redemption rather than simple wear.

Notes from the Málaga series are among the rarest of the provincial Spanish issues, reflecting both the bank's limited capitalization and the relatively underdeveloped commercial banking culture of Andalusia in the 1860s.