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500 Reales de Vellón Banco de Santiago

Issuer Banco de Emisión y Descuentos de Santiago
Year 1863
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Value 500 Reales Vellon
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Obverse description Printed in black, red, and grey, the obverse carries a central vignette of the Pilgrim Santiago accompanied by the emblem of Santiago de Compostela, flanked by pastoral imagery including cattle, agricultural implements, and fruit. The denomination and bank title appear in bold letterpress within a decorative border, with the serial number and series letter printed in black. Signature lines for the Comisario Regio, Director Gerente, and Cajero are inscribed below the main text block.
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Reverse description The reverse is essentially unprinted, presenting a plain pink-tinted paper surface with only the faint show-through of the obverse impression visible. A vertical serial number is printed in black along the left margin.
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Comments

The Banco de Emisión y Descuentos de Santiago was one of several provincial Spanish banks authorized under the 1856 banking law, which broke the Banco de España's monopoly and allowed regional institutions to issue their own notes. Santiago de Compostela was an unusual seat for such a bank — more ecclesiastical center than commercial hub — and the institution never developed the balance sheet of its counterparts in Barcelona or Bilbao.

The reales de vellón denomination places this firmly before the 1868 peseta reform, which swept away the old Bourbon monetary system following the Glorious Revolution. Notes from these provincial issuers rarely survived that transition in any quantity; most were redeemed or simply lost.

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