20 Mil Reis

The Thesouro Nacional's reliance on the American Bank Note Company throughout the 1880s reflected Brazil's limited domestic printing infrastructure at the time — ABNC held effectively captive contracts with several South American treasuries simultaneously, and the Brazilian notes of this period share production characteristics with issues from Argentina and Peru printed in the same New York shop during the same years.

The Mil Réis denominations of this series are increasingly difficult to find outside advanced Brazilian collections. The 1885 date places this note in the brief window before the Abolition of Slavery in 1888 and the proclamation of the Republic in 1889 dramatically restructured Brazilian monetary administration.