20 Mil Reis

Beschrijving voorzijde	The obverse presents a central oval intaglio portrait vignette of a bearded male figure, likely a historical explorer or statesman, set against an intricate guilloche underprint in dark blue and black. To the right, a secondary vignette depicts a coastal harbour scene with figures and a sailing vessel, while a red circular cachet inscribed 'BANCO NACIONAL ULTRAMARINO / FILIAL EM S. THOMÉ' is superimposed at centre. The note bears the date 'LISBOA, 1 de Março de 1909', serial numbers in red and black, and printed signature lines at the lower portion above the inscription 'COLONIAS COMMERCIO AGRICULTURA'.
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Beschrijving keerzijde	The reverse is printed predominantly in red and orange on a pale ground, dominated by a large central guilloche medallion bearing the numeral '20' on both flanks and enclosing an allegorical vignette of a seated female figure beside a sailing ship. The circular legend 'BANCO NACIONAL ULTRAMARINO' surrounds the medallion, and elaborate lathe-work borders fill the entire field. At the upper centre the overprint reads 'PAGAVEL NA FILIAL EM S. THOMÉ'.
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Beschrijving beveiliging	Watermarked cotton paper with the issuing bank's design visible when held to light.
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