100 Patacas

Banco da China's entry into Macau's currency market was itself a political act. Until 1995, only Banco Nacional Ultramarino held the note-issuing privilege — a colonial arrangement that Beijing moved to dismantle ahead of the 1999 handover by authorizing a parallel series from its own institution. This 100 Patacas belongs to that transitional window: two banks, two issuing authorities, one currency, both legally valid simultaneously.

Production at Beijing Banknote Printing House reflects the institutional priorities of the moment — sovereignty communicated through supply chain, not just imagery.