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20 Escudos 2nd. print
| Issuer | Banco de Portugal |
|---|---|
| Year | 1919-1920 |
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| Shape | Rectangular |
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| Obverse description | Blue intaglio print over green and brown guilloche underprint. Portrait vignette of João de Castro at left, with elaborate lathe-work borders framing the composition. Plate designation Chapa 2 appears on the note. |
|---|---|
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| Reverse description | Maroon intaglio over multicolor guilloche underprint. Central vignette presents a detailed architectural view of the Palace of Sintra set amid dense foliage; to the right, an ornate medallion encloses the Portuguese Royal Coat of Arms surrounded by laurel branches and intricate lathe-work rosettes, with numeral denomination panels at upper and lower right. |
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| Comments |
Portugal's postwar inflation crisis forced Banco de Portugal to issue multiple print runs of this denomination in rapid succession — the second printing reflects demand that the first simply couldn't meet. Bradbury Wilkinson, by this point one of the most technically accomplished security printers in the world, handled the contract from their New Malden works in Surrey.
Pick 118 is frequently conflated with the first print by dealers unfamiliar with the series; the distinguishing markers are in the serial prefix ranges and minor typographic variations in the obligation text, not immediately obvious at a glance.