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20 Avos Banco Nacional Ultramarino

Issuer Banco Nacional Ultramarino
Year 1946
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Shape Rectangular
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Obverse description Printed in dark purple-brown on a light ground, the obverse centres on a guilloche oval medallion bearing the large numeral '20' above the denomination VINTE AVOS. To the left, a vignette of the ruins of St. Paul's Cathedral (Ruínas de S. Paulo) is rendered in fine letterpress detail. The bank name in Portuguese and Chinese script runs across the top, with MACAU below, while two signature panels for the Director de Fazenda and the Gerente appear to the right, accompanied by a serial number and series letter at the foot of the note.
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Reverse lettering VINTE AVOS 毫貳 門澳 MACAU COLÓNIA PORTUGUÊSA
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Comments

The Banco Nacional Ultramarino's branch in Macau relied on local Hong Kong printing for much of its mid-century small-denomination output, and this 20 Avos is a product of that arrangement. The Hongkong Printing Press (1946) Ltd. was incorporated the same year this note was issued — making this among the earliest work the press produced under that name.

The Avo denominations circulated hard in Macau's street economy and typically show significant wear. Clean examples from this 1946 printing are genuinely uncommon.

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