1 Real

PS#152 is a Treasury-issued Real from the early 1850s — a period when Brazilian monetary organization was still sorting itself out between the Tesouro Nacional and the competing note-issuing privileges of the Banco do Brasil. These Treasury reais were essentially fiscal instruments, not commercial bank paper, which gave them a different circulation profile from contemporary private-bank notes.

The 1853–1854 window is telling: it brackets the very year the second Banco do Brasil was chartered, after which Treasury's direct note issuance became more constrained. Survivors in any condition are uncommon.