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100 Cruzeiros overprint on 100 Mil Réis P# 70
| Issuer | Tesouro Nacional (National Treasury of Brazil) |
|---|---|
| Year | 1942 |
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| Value | 100 Cruzeiros (100 BRZ) |
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| Obverse description | Printed in blue on a polychrome underprint using intaglio and lithographic techniques, the obverse centres on a framed portrait vignette of Afonso Augusto Moreira Pena, President of the Republic from 1906 to 1909, surmounted by ornamental scrollwork. Two blue rosette overprints applied by the Casa da Moeda appear at the upper left and lower right corners, each bearing the legend CASA DA MOEDA 100 CRUZEIROS, converting the original 100 Mil Réis note to the new Cruzeiro denomination. Guilloche latticework and denomination numerals frame the central composition. |
|---|---|
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| Reverse description | Printed entirely in green by intaglio, the reverse presents a panoramic vignette of Rio de Janeiro's Guanabara Bay, with the distinctive profile of Pão de Açúcar (Sugarloaf Mountain) rising above the bay and the urban landscape of the city spread across the foreground. Large white numeral 100 counters appear at the left and right within elaborate guilloche medallions, and a bold cartouche at the lower centre carries the state title. The printer's imprint appears at the bottom margin below the central frame. |
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| Comments |
Brazil's 1942 Cruzeiro reform abolished the Mil Réis after four centuries of use, replacing it at par — one Cruzeiro for one Mil Réis — which made large-scale revaluation unnecessary but required rapid reissuance of existing stocks. Rather than wait for entirely new print runs, the Treasury authorized overprinting of unissued P#70 notes from the ABNC vaults. The overprint program was a stopgap while fresh Cruzeiro-denominated notes came online.
Over twelve million examples were processed, making this one of the higher-volume overprint issues in the transition series. Despite that quantity, examples with a clean, unsmudged overprint strike are notably harder to find than the raw numbers suggest.