100 Patacas Stamp PAGAVEL EM TIMOR over '100 Patacas', Macau

This note began life as a standard Banco Nacional Ultramarino issue for Macau, then acquired its second purpose through overprint. The "PAGAVEL EM TIMOR" stamp was applied to redirect notes toward Portuguese Timor following the catastrophic disruption of the Japanese occupation, which had effectively destroyed the territory's functioning currency supply. Bradbury Wilkinson produced the base notes in London, but the overprinting sequence and authority behind it remain incompletely documented in the literature.

Pick 11B is scarce in any grade — the combination of wartime logistics, a tiny colonial economy, and the violence of the occupation years meant few survived intact.