Spain. 1 Peseta 1914

This refined and exceptional historical document is a 'Primera de Cambio' (bill of exchange) issued in Havana (Cuba) on March 24, 1914.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

* The Financial Transaction: Labeled with serial number 909,124, the promissory note is drawn for the considerable sum of 743 pesetas and 85 centimos ("Ptas 743.85"), clearly indicated both in words in the body of the text and in the lower-right box.
* The Remittance Route: The instrument is issued in favor of Don José Fernandez.
The bill is drawn in Spain, specifically to the firm "Sres. Viuda e Hijos de Alvarez Cueva" in Pravia (Asturias), with the subsidiary instruction for payment in Madrid at the bankers "Sainz e Hijos". This confirms the established network of transatlantic remittances managed by the wealthy families of Asturian origin residing in Cuba.
* Engravings and Security: At the center shines a wonderful semicircular intaglio vignette depicting Mercury (the god of commerce) seated on the shore as he watches a sailing ship cross the ocean. Above the image there is a mechanical security punch with the amount number ("743*85"), implemented to prevent alterations to the figure.
* The Prestigious Printing: On the left margin is visible the microscopic signature of the title’s producer: "American Bank Note Co. New York Litho". This is the world's most prestigious security printing company, which produced banknotes and government bonds for governments around the world. The ochre background is entirely composed of a security microtext repeated "N. GELATS Y CA. HABANA".
* The Back: Shows the autograph signature for the verso by José Fernandez and the mirrored repetition of the diamond-shaped security punch.

# 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. Its institution became synonymous with absolute solidity, so much so that it was one of the very few private banks to survive unharmed the terrifying Cuban banking crisis of 1920. Gelats was the trusted banker of the powerful sugar industry and the Catholic clergy of the island.
2. American Bank Note Company (ABNC): The New York firm that lithographed this promissory note. The presence of their mark guarantees that the title was produced with the same quality and technological standards as a banknote of the era.

#Estimation of commercial value
The Cuban 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, shows no heavy yellowing or tears, and the central punch is intact.

* Estimated value of the document: It is steadily assessed between €80 and €140.
* Elements that increase its value: The engraver’s signature from New York (ABNC), the splendid Mercury vignette, the intact protective punch, and belonging to one of the most iconic banks of Old Havana push the value toward the top tier for international collectors.

AI description help
Excellent historical value of Scripophily
They are stored in A4 PVC envelopes.
Good condition. See the image for a proper impression
Shipped with Registered Mail and tracking included, and protected packaging.