1 Mil Réis Thesouro Nacional, 5th print

Brazil's National Treasury turned to the American Bank Note Company repeatedly throughout the mid-to-late nineteenth century, and this 1 Mil Réis belongs to the fifth distinct printing of a note type that ran long enough to accumulate meaningful variation across issues. The ABNC's New York facility was the dominant supplier of Brazilian government paper during this period — domestic printing capacity was limited, and the political will to develop it was inconsistent.

The mil réis denomination sat at the low end of Treasury paper, meaning these circulated hard. Heavy use and tropical humidity together make problem-free survivors genuinely uncommon.