1896 Cuba 10 Pesos Silver Coin Note PMG 58 EPQ Pick 49d Banco Español de la Isla de Cuba “PLATA”

1896 Cuba 10 Pesos Silver Coin Note PMG 58 EPQ Pick 49d Banco Español de la Isla de Cuba “PLATA”

Presented here is a stunning 1896 10 Pesos banknote from Cuba, issued by El Banco Español de la Isla de Cuba and printed by the renowned American Bank Note Company. This note is cataloged as Pick# 49d and is graded PMG 58 EPQ (Choice About Uncirculated with Exceptional Paper Quality)—a remarkably high and desirable grade for this early colonial Cuban issue.

This note represents the “Silver Coin” (Moneda Plata) variant, distinguished by the large red “PLATA” overprint on the reverse and the phrase “en moneda metálica” printed across the front, indicating it was redeemable specifically in silver coinage.

Authentication & Certification:

• Issuer: El Banco Español de la Isla de Cuba

• Date: 15 de Marzo de 1896

• Denomination: 10 Pesos

• Pick Number: P-49d

• Serial Number: 577808

• Grade: PMG 58 EPQ – Choice About Uncirculated with Exceptional Paper Quality

• Printer: American Bank Note Company (ABNC), New York

• Overprint: Red “PLATA” on reverse

• Color Scheme: Black, green, and red overprint

Design & Features:

Obverse:

• Vignette: A rural Cuban sugarcane scene with ox-drawn carts and field laborers, set within ornate lathework borders and engraved patterns.

• Denomination “DIEZ” centered in a green guilloche medallion, flanked by large 10 counters on either side.

• Red serial numbers and intricate border framing.

• Statement of value reads: “A la presentación de este billete pagará en moneda metálica DIEZ pesos fuertes en…”

• Signed and dated 15 de Marzo de 1896, Habana.

Reverse:

• Complex green geometric design typical of ABNC craftsmanship, with red flanking seals and a large diagonal red “PLATA” overprint.

• Denomination “10” at each corner.

• Center seal of El Banco Español de la Isla de Cuba, surrounded by regal elements including a crown and laurel wreaths.

Historical Significance:

This note was issued during Cuba’s colonial era under Spanish rule, just two years before the outbreak of the Spanish-American War. The Banco Español de la Isla de Cuba operated under Spanish authority to circulate fiduciary currency, and silver-backed notes like this were often seen as more trustworthy and stable compared to fiduciary (non-redeemable) paper notes.

The prominent “PLATA” overprint distinguishes this note as one backed by silver coin rather than simply promissory fiat—a key difference in pre-20th-century monetary systems. These silver-backed issues were eventually phased out as U.S. influence and Cuban independence transformed the island’s financial structure.

The ABNC engraving represents some of the highest quality printing of the time, making these notes both visually stunning and historically profound.

Collector’s Value:

Early Cuban notes from the 1800s are increasingly scarce, particularly those that remain in such well-preserved, original condition. Graded PMG 58 EPQ, this piece offers near-uncirculated sharpness with full originality and rich inks. The silver redemption overprint (“PLATA”), vivid rural scene, and ABNC detail make this note a centerpiece for collectors of Latin American currency, Spanish colonial paper, or 19th-century world banknotes.