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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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| Shape | Rectangular |
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|---|---|
| Obverse lettering | 500 EL BANCO DE EMISION Y DESCUENTOS DE SANTIAGO pagará al portador en efectivo QUINIENTOS REALES VELLON SANTIAGO, DE DE 18 EL COMISARIO REGIO EL DIRECTOR GERENTE EL CAJERO Nº 02484 SERIE C (Translation: The Bank of Issuance and Discounts of Santiago will pay the bearer in cash Five Hundred Reales Vellon The Royal Commissioner The Director-Manager The Cashier) |
| 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.