10 Mil Réis Thesouro Nacional, 5th print

The 5th print of this Thesouro Nacional 10 Mil Réis issue belongs to a series produced in London at a time when Brazil's domestic printing capacity was essentially nonexistent for high-security currency work. Perkins, Bacon & Petch had by the 1860s already built its reputation on intaglio steel-plate engraving — the same technology they applied to postage stamps globally — and that expertise made them the default choice for Brazilian treasury notes requiring forgery resistance.

The "5th print" designation reflects successive contract batches rather than any design revision, a distinction that matters for distinguishing genuine print runs from later states. Serial numbering and signature configurations are the primary differentiators between prints in this series.