10 000 Reis

Banco Nacional Ultramarino was chartered in Lisbon in 1864 specifically to serve Portugal's overseas territories, and by 1909 it held note-issuing authority across a sprawling collection of colonies from Angola to Macau. This particular denomination — 10,000 Reis — was among the higher values in circulation just two years before the Portuguese monarchy collapsed and the entire Reis system was swept away by the Republican escudo reform of 1911.

Bradbury Wilkinson's work for colonial issuers of this period is generally consistent in quality, with intaglio printing and fine-line security work that held up well against tropical humidity — a genuine practical concern for notes destined for equatorial African postings.

The note predates the Republic by roughly twenty months.