10 Cruzeiros Thesouro Nacional, 1st print, 'Valor Legal'

Brazil's Tesouro Nacional notes of this period occupied an awkward institutional position — the National Treasury, rather than the Banco do Brasil or the soon-to-be-established Banco Central, remained the nominal issuer well into the early 1960s, a bureaucratic holdover that reflected how slowly Brazil's monetary architecture was reforming. The "Valor Legal" overprint was added to earlier printings to authorize continued circulation under updated currency regulations.

The signature combinations here track political appointments across a turbulent stretch: the Kubitschek-to-Quadros-to-Goulart succession reshuffled financial ministries repeatedly, and the two distinct signing pairs across series 331–930 reflect those ministerial changes rather than any production interruption. ABNC printed the base notes in New York under contract, as they did for much of Latin America through this period.