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20.000 Réis
| Issuer | Banco de Portugal |
|---|---|
| Year | 1876 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse description | Printed entirely in salmon-red, the reverse is dominated by a large central lozenge framing the inscription 'BANCO DE PORTUGAL' set within ornamental flourishes and dense guilloche latticework. A rectangular guilloche border encloses the composition, and four circular medallions at the corners each bear '20$000 / REIS / OURO'. A row of cancellation perforation holes is visible in the lower portion. |
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| Protection type | Watermark |
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| Comments |
The Banco de Portugal's 20.000 Réis notes of this period occupied the very top of the denomination ladder — this was serious money in 1876 Portugal, a country where agricultural laborers earned well under 200 Réis per day. A note of this value would rarely have passed through ordinary hands, and circulation was typically confined to commercial transactions between merchants and institutions.
Pick 56 is genuinely scarce in any condition. High-denomination notes of this vintage were handled carefully but rarely survived in numbers — redemption cycles and paper fragility over nearly 150 years have thinned the population considerably.