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1 Conto de Réis Banco do Brasil, 1st. print

Issuer Banco do Brasil
Year 1923
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Value 1 000 000 Réis (Um Conto de Réis) (1 000 000)
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Reverse description Printed primarily in purple by intaglio, the reverse is dominated by a central panel reproducing Vítor Meireles's painting «O Grito do Ipiranga» (The Cry of Ipiranga), commemorating Brazil's declaration of independence. The denomination numerals and the bank's name flank the central vignette within ornamental guilloche borders, with the printer's imprint at the lower edge.
Reverse lettering 1000 BANCO DO BRASIL 1000 AMERICAN BANK NOTE COMPANY
(Translation: Bank of Brazil — American Bank Note Company)
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Comments

The 1 Conto de Réis was the highest denomination in Banco do Brasil's 1923 series — one conto being 1,000,000 réis, a unit of account so large it was almost never encountered in everyday transactions. Notes of this value moved between institutions and wealthy merchants, not through ordinary hands, which partly accounts for their survival rate being deceptively misleading: low circulation does not always mean low wear when the few who handled them were not careful.

The American Bank Note Company had supplied Brazilian currency printing for decades by this point, a relationship that outlasted several Brazilian monetary reforms. This being the first print run of the type, subsequent issues can be distinguished by subtle plate and serial number differences documented in the Pick sequence.

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