500 Reales de Vellón Banco de Cádiz

The Banco de Cádiz was one of Spain's provincial emission banks authorized under the 1856 banking law, and it survived only until 1874 when the Banco de España's monopoly on note issue was consolidated nationally. Notes from the Cádiz bank are scarce not because of wartime destruction but because provincial circulation was inherently limited — Cádiz was a commercial port city with heavy reliance on bills of exchange, and large-denomination paper notes like this 500 reales found only narrow acceptance among merchants already comfortable with documentary credit.

The reales de vellón denomination itself was already an anachronism by 1863, with the peseta system formally arriving a decade later.