In the domain of bilingualism, a main issue of interest has been to determine whether the two languages are shared at a conceptual level and which variables modulate the access to the conceptual system. In this study, we focused on the effects of two variables related to word-type. We tested proficient unbalanced Spanish–English bilinguals in a masked translation priming paradigm conducted in the two translation directions (L1 to L2, and L2 to L1), by orthogonally manipulating for the first time concreteness and cognate status. The stimulus onset asynchrony (SOA) was also manipulated (50 ms vs 100 ms). Results revealed modulations in masked priming effects as a function of cognate status and translation direction. However, the effect of concreteness was only observed at the long SOA. The findings are discussed in light of the most relevant models of bilingual memory, mainly the Distributed Feature Model (de Groot, 1992a).