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| 正面描述 | Orange letterpress print on white paper. The crowned coat of arms of the Kingdom of Portugal occupies the top center, flanked by two allegorical vignettes — Mercury, the Roman god of commerce, to the right, and a female personification of Industry to the left. The central field bears the denomination, promissory text, and authorizing signatures, while the lower portion carries the value numeral and symbols of abundance. |
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| 正面铭文 | BANCO DE PORTUGAL VINTE MIL RÉIS MOEDA INSULANA PAGÁVEL NAS AGÊNCIAS DOS AÇORES Lisboa, 1 de Outubro de 1895 VINTE 20 VINTE (Translation: Bank of Portugal Twenty Thousand Reis Insulan Currency Payable at Azores branches Lisbon, October 1, 1895 twenty 20 twenty) |
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Banco de Portugal brought its note printing in-house with its own Estamparia, a relatively uncommon arrangement among European central banks of the period, most of whom still relied on specialist security printers in London or Paris. By the 1890s the Estamparia had developed sufficient technical capacity for the full production run of this series.
The mil reis as a unit survived until 1911, when the Republic swept away the monarchy's monetary nomenclature and introduced the escudo at a rate of 1,000 réis to the escudo — making this note's face value exactly 20/1000ths of one future escudo.