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| 表面の説明 | Printed in black intaglio over a polychrome lithographic underprint, the face is anchored at left by a large denomination numeral 20, with an oval portrait vignette at right of centre bearing the likeness of Arthur da Silva Bernardes, 12th President of Brazil (1922–1926). The issuing authority legend and legislative inscription are set in letterpress above and below the central composition. One or two manuscript autographs appear across the face in keeping with period Brazilian note practice. |
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| 表面の銘文 | ログイン して詳細を見る |
| 裏面の説明 | Executed in light blue intaglio on a relatively spare composition, the reverse centres on a vignette of the Palácio da Liberdade in Belo Horizonte, Minas Gerais, flanked on either side by the denomination numeral 20. The bank name and printer's imprint are set below the central vignette. |
| 裏面の銘文 | ログイン して詳細を見る |
| 署名 | ログイン して詳細を見る |
| 偽造防止技術 | ログイン して詳細を見る |
| 偽造防止の説明 | ログイン して詳細を見る |
| バリエーション | ログイン して詳細を見る |
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Banco do Brasil's relationship with the American Bank Note Company ran deep through the early twentieth century, and this 1923 issue is part of that long-standing contract series. ABNC held the engraving plates and printed successive runs for Brazil across multiple denominations, with the "1st Print" designation distinguishing this from later impressions that differ in minor but catalogable ways — primarily in plate wear signatures and sometimes in serial number color or font weight.
Brazil's monetary situation in 1923 was far from stable; the milréis was under sustained depreciation pressure tied to postwar commodity cycles and coffee market volatility. Notes of this period circulated hard.