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100 Mil Réis Caixa de Estabilização, overprint on 100 Mil Réis P# 70
| Issuer | Caixa de Estabilização do Brasil |
|---|---|
| Year | 1926 |
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| Shape | Rectangular |
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| Obverse description | Blue on polychrome underprint, produced in intaglio and lithography, on the base of the 16th printing of the Thesouro Nacional note (P#70). At center, an intaglio portrait vignette of Afonso Augusto Moreira Pena, 6th President of the Republic (1906–1909), flanked on either side by the numeral 100; a diagonal manuscript conference signature crosses the body of the note, accompanied by two additional printed signatures. Near the upper margin, a rectangular black overprint stamp reads: 'A CAIXA DE ESTABILIZAÇÃO pagará ao portador, à vista, no Rio de Janeiro, em ouro, conforme a Lei n.º 5108, de 18 de Dezembro de 1926 a quantia de 100$000 VALOR RECEBIDO EM OURO.' |
|---|---|
| Obverse lettering | REPUBLICA DOS ESTADOS UNIDOS DO BRAZIL NO THESOURO NACIONAL SE PAGARÁ AO PORTADOR DESTA A QUANTIA DE 100 CEM MIL REIS VALOR RECEBIDO 100 100 American Bank Note Company A CAIXA DE ESTABILIZAÇÃO pagará ao portador, à vista, no Rio de Janeiro, em ouro, conforme a Lei n.º 5108, de 18 de Dezembro de 1926 a quantia de 100$000 VALOR RECEBIDO EM OURO (Translation: Republic of the United States of Brazil In the National Treasury will be paid to the carrier of this amount of One Hundred Thousand Réis Amount Received American Bank Note Company The Stabilization Fund will pay the bearer, in cash, in Rio de Janeiro, in gold, according to Law No. 5108, of December 18, 1926, the amount of 100$000 Amount Received in Gold) |
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| Comments |
The Caixa de Estabilização was Brazil's short-lived currency stabilization fund, established in 1926 under President Washington Luís as part of an attempt to peg the milréis to gold at a fixed rate. Rather than printing an entirely new series, the Caixa simply overprinted existing Banco do Brasil notes — in this case Pick 70 stock — with its own authority. The arrangement collapsed by 1930, when the Great Depression and the Vargas revolution made the gold peg untenable and the Caixa was dissolved.
The overprint methodology makes condition assessment complicated: the underlying P#70 sheet had its own aging and handling history before the secondary impression was applied.