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1 Centavo overprinted on P# 177
| Issuer | Banco Central do Brasil |
|---|---|
| Year | 1966-1967 |
| Type | Log in to see details |
| Value | 1 Centavo (0.01 BRB) |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | REPÚBLICA DOS ESTADOS UNIDOS DO BRASIL 10 TESOURO NACIONAL 10 BANCO CENTRAL 1 CENTAVO DEZ CRUZEIROS GETULIO VARGAS DIRETOR CAIXA DE AMORTIZAÇÃO MINISTRO DA FAZENDA VALOR LEGAL THOMAS DE LA RUE & COMPANY, LIMITED, LONDON. (Translation: Republic of United States of Brazil Ten Cruzeiros National Treasury 10 10 Central Bank 1 Centavo Getulio Vargas Director of Amortization Fund Finance Minister Legal Amount Thomas De La Rue & Company, Limited, London.) |
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| Variants | P#183a - series 3056-3151 incorrect spelling of "Ministro" as "MINSTRO" P#183b - series 3152-4055 correct spelling of "MINISTRO" |
| Comments |
This note exists because of the Cruzeiro Novo transition, but that isn't what makes it interesting. Brazil's 1966–67 monetary reform lopped three zeros off the old cruzeiro, and rather than immediately printing fresh stock, the Banco Central authorized overprints on existing Thomas De La Rue sheets to bridge the gap. The 1 Centavo was the lowest denomination in the transitional series — worth one old cruzeiro — and had an extremely brief economic life before inflation rendered it functionally useless.
De La Rue applied the overprint to P#177 stock already in inventory. Circulated survivors tend to show heavy wear; the denomination's purchasing power evaporated so quickly that notes were spent rather than saved.