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| 背面描述 | Printed in red on a light ground, the reverse is dominated by an elaborate guilloche framework of interlocking floral and foliate scrollwork. A central oval cartouche bears the Portuguese coat of arms encircled by the bank name BANCO NACIONAL ULTRAMARINO and MACAU. Flanking panels carry the denomination VINTE AVOS in Portuguese to the left and the Chinese character 貳毫 to the right, with COLÓNIA PORTUGUÊSA inscribed along the lower margin. |
| 背面铭文 | VINTE AVOS 毫貳 門澳 MACAU COLÓNIA PORTUGUÊSA |
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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.