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100 Escudos

Issuer Banco Nacional Ultramarino
Year 1945
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Value 100 Escudos
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Reverse description Red on light underprint. Central oval vignette of a classical allegorical female figure seated beside a ship's mast, flanked by large denomination numerals '100' at left and right within elaborate guilloche borders. 'BANCO NACIONAL ULTRAMARINO' across the upper register; 'PAGAVEL NA COLONIA DE MOÇAMBIQUE' in a panel at top centre.
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Signature(s) António Augusto Correia de Aguiar and António dos Santos Viegas
Artur Meneses Correia de Sá and António dos Santos Viegas
António Pedroso Pimenta and António dos Santos Viegas
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Comments

The Banco Nacional Ultramarino occupied an unusual constitutional position among colonial issuers — chartered in Lisbon but functioning as the note-issuing authority across Portugal's overseas territories, including Angola, Mozambique, Cape Verde, and Portuguese Guinea. This particular series circulated in Angola, where the wartime years had produced genuine inflationary pressure and a demand for higher-denomination paper that prewar issues hadn't anticipated.

Three distinct signature combinations appear across the P#97 series, reflecting successive changes in the bank's senior administration during the mid-1940s. Bradbury Wilkinson's intaglio work on colonial issues of this period was consistently fine, though the single watermark is the only mechanical security feature — light by contemporary European metropolitan standards.

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