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2 500 Reis

Issuer Banco Nacional Ultramarino
Year 1897
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Value 2500 Reis
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Obverse description A steamship vignette occupies the left portion of the note, with a central field and a standing female African figure to the right. The colonial arms appear at upper centre as the principal heraldic device.
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Comments

The Banco Nacional Ultramarino, chartered in Lisbon in 1864, held monopoly rights over currency issuance across Portuguese overseas territories for much of the colonial period. This note was issued for Mozambique — the BNU operated territory-specific series, and the 2$500 Réis denomination sits in a transitional moment before the escudo system displaced the réis-based coinage accounting that Portuguese Africa had inherited from the metropole.

Pick 18 is among the scarcer BNU Mozambique issues of the 1890s; the decade brought significant instability to Portuguese colonial finances, and redemption rates were uneven across the territory.