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1 Conto de Réis Thesouro Nacional, 1st. Print

Issuer Thesouro Nacional do Brasil
Year 1921-1924
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Size 200 × 93 mm
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Obverse description Blue on yellow underprint, executed in woodcut style. At left, an allegorical seated female figure holds a sword, representing Commerce, set within a vignette framed by guilloche borders. Print, series, and order numbers are rendered in red.
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Reverse description Printed in brown on a yellow-ochre Marajoara-patterned guilloche underprint, the reverse is dominated by a large central vignette with an elaborate radiating foliate design surrounding the bold numeral "1" above the denomination text "CONTO DE RÉIS" in woodcut lettering. Four corner medallions each bear the denomination figure "1:000$000", with the issuer inscription across the top and the full denomination legend in a panel at the bottom.
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Comments

The 1 Conto de Réis was the largest denomination the Thesouro Nacional circulated during the early 1920s — one thousand mil-réis at a time when Brazil's currency was under sustained devaluation pressure following the First World War. The Thesouro Nacional series was a domestic treasury issue distinct from the Banco do Brasil notes circulating simultaneously, a dual-track arrangement that confused foreign creditors and reflected the fractured state of Brazilian monetary administration in this period.

Casa da Moeda do Brasil printed the entire run in Rio de Janeiro, which was not always the case for high-value Brazilian paper of earlier decades. At this denomination, surviving circulated examples are uncommon — high-value notes were retired quickly and carefully tracked.

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