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| 正面描述 | Printed in black on a green and light pink underprint; the upper centre carries an oval vignette of an allegorical female figure wearing a helmet and reclining against the coat of arms of Spain, holding a spear, with a lion at her feet. The field is filled with intricate geometric guilloche patterns, and the serial number is printed in black. The date of issue, denomination, and issuing authority appear in typeset letterpress inscriptions. |
|---|---|
| 正面铭文 | 500 EL BANCO DE ESPAÑA pagará al portador QUINIENTOS reales vellón en efectivo MADRID 1º de Mayo de 1862. El Gobernador Por la Intervencion Por la Caja (Translation: The Bank of Spain will pay the bearer Five Hundred Reales vellon in cash Madrid, May 1, 1862. The Governor For the Intervention For the Cash) |
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The Banco de España's 1862 issues belong to the earliest phase of the bank's consolidation after the 1856 banking law that transformed the old Banco de Isabel II — absorbed in 1847 — into a properly constituted national institution. The reales de vellón as a unit of account were already on borrowed time; Spain decimalized its currency with the introduction of the escudo in 1864, making notes denominated in reales officially obsolete within two years of this note's printing.
Survival rates for this series are extremely low. The 500 reales denomination circulated among merchants and was subject to heavy wear, and the transition to escudo-denominated notes prompted aggressive withdrawal campaigns that destroyed most of the stock.