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20 000 Réis

Issuer Banco Nacional Ultramarino
Year 1909
Type Standard circulation banknote
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Reverse description The central vignette, enclosed within a circular guilloche frame bearing the bank name, presents a seated allegorical female figure accompanied by sailing ships, rendered in intaglio in dark reddish-brown tones. Denomination numerals "20" appear on both the left and right sides against an elaborate engine-turned guilloche underprint in orange and red. A rectangular panel at the top center carries the branch payability inscription, while the overall border is composed of fine lathe-work ornamental scrollwork consistent with Bradbury Wilkinson's engraving style.
Reverse lettering PAGAVEL NA FILIAL EM LOANDA BANCO NACIONAL ULTRAMARINO
(Translation: Payable at the branch in Luanda, National Overseas Bank)
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The Banco Nacional Ultramarino, established in Lisbon in 1864 with a mandate to serve Portugal's overseas territories, issued this note for Angola — one of several colonial dependencies where BNU held the exclusive right of issue. By 1909, the 20,000 Réis was a substantial denomination, worth roughly a full month's wages for a colonial administrator of modest rank.

Bradbury Wilkinson's involvement is significant. The firm had by this period established itself as a preferred printer for colonial currency work across multiple empires, and their intaglio engraving quality was consistently superior to what Lisbon-based printing could achieve at the time. The Angola BNU series of this era is notable for relatively low print runs, and attrition in tropical circulation conditions was severe — humidity, insects, and informal storage destroyed enormous quantities.