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10 Mil Réis Caixa de Conversão, Provisional Issue
| Issuer | Caixa de Conversão |
|---|---|
| Year | 1906 |
| Type | Standard circulation banknote |
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|---|---|
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| Protection type | Watermark |
| Protection description | Arms of the Republic. |
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| Comments |
The Caixa de Conversão was established in 1906 specifically to stabilize the Brazilian milréis by pegging it to gold at a fixed conversion rate — a direct response to the chronic exchange rate volatility that had plagued Brazilian coffee exporters since the 1890s. This note was part of that institution's founding issue, printed by the Banque de France in Paris with engraving by Jules Huyot, whose work for the BdF during this period was among the finest intaglio output in circulation anywhere.
The provisional designation reflects genuine administrative uncertainty: the Caixa's legal permanence was contested from the outset, and it was ultimately dissolved in 1914.