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| 正面描述 | Printed in black and grey, the obverse centres on a front-facing bust vignette of Valencian engraver Rafael Esteve, after a portrait by Francisco de Goya, with his name inscribed below. The denomination numeral 50 appears at upper left, flanked by intricate guilloche and floral ornamental borders. The black serial number is printed across the lower portion alongside the issuing authority inscription and signature lines for the Governor, Comptroller, and Cashier. |
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| 背面描述 | Printed entirely in grey, the reverse is dominated by a large central oval guilloche medallion bearing the bold numeral 50, enclosed within an elaborate interlocking geometric framework with Gothic-influenced pointed lobes. A finely engraved lace-pattern border frames the entire note, with the denomination numeral repeated in each corner. The series inscription runs along the top and bottom panels within decorative cartouches. |
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The Banco de España's 1874 series was issued under the provisions of the Decree of 19 March 1874, which granted the bank its monopoly on note issue — previously, regional banks of emission had operated alongside it. This 50 Pesetas note is among the earliest instruments of that newly consolidated national system, produced when the infrastructure to enforce uniform circulation was still being assembled.
Domingo Martínez was one of the principal engravers attached to Spain's Fábrica Nacional de Moneda y Timbre, and his credit appears across several early Restoration-era issues. Pick 2 is scarce in any grade; the 1874 series suffered heavy attrition during subsequent monetary reforms.