Spain. Bank of Spain. 1902-1905 Issues. Date: 01.10.1903. Dimensions: 150 x 108 mm. Material: paper. Watermark: head of Ceres / BANCO DE ESPAÑA. No security thread. 2,500,000 issued notes. Printer: Banco de España. Front and back printing in black only. Texts in Spanish. Description on the front: a winged Mercury with four arms flies over the world (a terrestrial globe on the left and the watermark on the right), dropping gold coins and banknotes while holding its caduceus in one of its hands. left. In the center, from top to bottom: the value in letters "500 PESETAS", the numbering in black repeated five times, the issuing institute "EL BANCO DE ESPAÑA", the words "Pagará al portador", the value in letters "QUINIENTAS PESETAS" then the place and date of issue. Three signatures in black. A single combination of signatures with El Gobernador (The Governor), El Interventor (The Comptroller) and El Cajero (The Cashier). Description of the back: a seated young woman (allegory of Science), a butter churn and an urn containing the watermark. On the right, another young woman (allegory of Agriculture) cuts sheaves of wheat with a sickle. No specimen known or encountered for the Type. This note was quickly withdrawn from circulation following the appearance of counterfeits.