500 Reales de Vellón Banco de Málaga

The Banco de Málaga was one of the provincial emission banks established under Spain's 1856 banking law, which briefly allowed regional institutions to issue their own notes in competition with the Banco de España. The arrangement was short-lived. The 1874 decree granting the Banco de España a national monopoly on note issue forced all provincial banks to cease emission, and most of their outstanding paper was either redeemed at a discount or simply never presented. Málaga's notes survived in very small numbers.

The reales de vellón denomination dates this note firmly before the 1868 peseta reform, which swept away the old Castilian monetary system entirely.