Spain. 1 Peseta 1914

This refined and exceptional historical document is a "Primera de Cambio" (bank bill of exchange) issued in Havana (Cuba) on March 24, 1914.
The title presents a magnificent ochre and black graphic design printed on behalf of the famous bank "N. Gelats y Ca.". It is a piece of enormous value for Cuban financial history, characterized by a high-definition security engraving.
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# Description and analysis of the document

* The Financial Transaction: Marked with serial number 909.124, the bill is drawn for the considerable sum of 743 pesetas and 85 centimes ("Ptas 743.85"), clearly stated both in words in the body of the text and in the lower right-hand box.
* The Remittance Route: The instrument is issued in favor of Don José Fernandez. The bill is addressed to Spain, specifically to the firm "Sres. Viuda e Hijos de Alvarez Cueva" in Pravia (Asturias), with the subsidiary instruction of payment in Madrid at the bankers "Sainz e Hijos". This confirms the established network of transatlantic remittances managed by the wealthy Asturian-origin families residing in Cuba.
* Engravings and Security: At the center stands a wonderful semicircular intaglio vignette depicting Mercury (the god of commerce) seated on the shore watching a tall sailing ship crossing the ocean. Above the image there is a mechanical security perforation with the amount number ("743*85"), performed to prevent alterations to the figure.
* The Precious Printing: On the left margin the microscopic signature of the title’s issuer is visible: "American Bank Note Co. New York Litho". This was the worlds' most prestigious security printing company, which produced banknotes and government securities for governments around the globe. The ochre background is entirely composed of a micro-engraved security text repeating "N. GELATS Y CA. HABANA".
* The Back: Shows the autograph signature for the back by José Fernandez and the mirror-image repetition of the diamond-shaped security perforation.
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# Important figures and historical context

1. Narciso Gelats: He was one of the most important and influential private bankers in Cuban history. Of Catalan origin, he founded the bank "N. Gelats y Co." in Havana in 1876. His institution became synonymous with absolute solidity, to the extent that it was one of the very few private banks to survive the terrifying Cuban banking crisis of 1920. Gelats was the trusted banker of the powerful sugar industry and the Catholic clergy on the island.
2. American Bank Note Company (ABNC): The New York firm that engraved this bill. The presence of their mark guarantees that the title was treated with the same quality standards and technological innovations as a banknote of the era.
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#Estimation of commercial value
Bank securities issued by N. Gelats y Ca. and printed by the American Bank Note Company before World War I are among the most sought-after and noble pieces of Caribbean scripophily. The condition of this specimen is superb: the paper is crisp, with no heavy yellowing or tears, and the central perforation is intact.

* Estimated value of the document: It consistently ranges between €80 and €140.
* Elements that increase its value: The signature of the New York engraver (ABNC), the splendid Mercury vignette, the intact protective perforation, and its belonging to one of the most iconic Havana banks elevate its value to the top tier for international collectors.

IA description help

Excellent historical value of scripophily
They are kept in A4 PVC envelopes.
Good conservation. See the image for a correct impression
It is shipped with Registered Mail with tracking included and protected packaging.