Catalog
1.000 Escudos
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1924 |
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| Value | Log in to see details |
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| Printer | Waterlow & Sons Limited, London |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | N.º 041 U-Serie A Praia 4 de Julho 1924 O Banco Nacional Ultramarino Pagará a ou ao portador a quantia de mil escudos em notas da provincia de Cabo Verde Eº 1:000$00 Banco Nacional Ultramarino Filial de Santiago O Gerente |
| Reverse description | Plain reverse devoid of any printed design, showing only the paper substrate with faint embossed impressions of the obverse vignette visible in relief. A circular dry-stamp reading 'CABO VERDE' is applied at the right side. |
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| Comments |
Banco Nacional Ultramarino occupied an unusual position in Portuguese colonial finance — it held the note-issuing monopoly not for metropolitan Portugal but for the overseas territories, functioning simultaneously as a commercial and colonial bank. By 1924, that arrangement was under increasing political strain following the instability of the First Portuguese Republic, which had been lurching through governments since 1910.
Waterlow & Sons printed extensively for colonial issuers across this period, and the dry stamp security feature here reflects the relatively modest anti-counterfeiting infrastructure available for high-denomination colonial notes at the time — a mechanical embossing rather than a watermark or intaglio serial. The 1.000 Escudos figure is a substantial face value for the series, and Pick #38C denotes a signature variety within what was a small-circulation issue.