1000 Réis 3rd. print - overprint 'REPÚBLICA'

This note belongs to a transitional moment in Portuguese monetary administration. When the Republic overthrew the monarchy in October 1910, existing banknote stocks printed under the constitutional kingdom became an immediate political problem. Rather than destroy usable currency, the Banco de Portugal overstamped surviving notes with "REPÚBLICA" — a cheap administrative solution that acknowledged the new regime without committing to a full reprint cycle.

The seven-year gap between the political changeover and this 1917 dated example reflects how long the overprint program ran across multiple printings of the underlying design. By the third print run, the practice was well-established and the overstamp applied mechanically rather than selectively.