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100 Mil Réis Banco do Brasil, 1st. Print

Issuer Banco do Brasil
Year 1923
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Currency Real (1799-1942)
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Obverse description Black intaglio on polychrome lithographic underprint. A portrait vignette of Regent Diogo Antônio Feijó is set within an oval frame at center, with the issuer name in an arc across the top. Face value numerals appear at all four corners and along the lateral borders of the central vignette, while the value in words is inscribed along the lower margin.
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Variants P#120a - issued note
P#120s - Specimen
Comments

The Banco do Brasil's reliance on the American Bank Note Company for this series reflected a broader pattern in Brazilian federal banking — domestic printing capacity was simply not trusted for high-value notes through much of the early republic. ABNC engraved and printed the entire run in New York, with sheets shipped to Brazil for issue.

The designation "1st Print" matters here because subsequent printings for the same P#120 type introduced subtle but catalogable differences in the plate work — collectors who conflate them undervalue the earlier impression.

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