4000 Reales de Vellón Banco de Palencia

The Banco de Palencia was one of the short-lived provincial banks authorized under Spain's 1856 banking legislation, which briefly allowed regional institutions to issue their own notes before the Banco de España absorbed most of them following the 1874 decree establishing its monopoly on note issue. Palencia's bank had a particularly brief run, and high-denomination notes like this 4000 reales issue saw limited distribution in a province with modest commercial activity.

The reales de vellón unit itself was already being phased toward the escudo system by 1864, making this note something of a transitional artifact — issued in an old unit of account while monetary reform was already underway in Madrid.