50 Pesetas

The 1905 series was among the last produced for the Banco de España before the institution moved toward domestic printing arrangements, and this note was engraved by Enrique Vaquer Atienza, one of the most accomplished Spanish engravers of his generation — responsible for stamps as well as banknotes across the early twentieth century. The combination of intaglio engraving quality with the paper stock of the period makes these notes technically interesting, though the low denomination relative to the series means surviving examples often show hard use.

Dating precisely within this issue can be complicated; the 1905 date appears on the face but redemption records suggest circulation extended well past the nominal issue year.