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20 Mil Réis Banco Nacional do Brazil, 1st. Print
| Issuer | Banco Nacional do Brazil |
|---|---|
| Year | 1890 |
| Type | Standard circulation banknote |
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| Obverse description | Printed in black, yellow, and ochre using intaglio and lithographic techniques on a polychrome underprint. An oval vignette at left portrays a male and female figure, while a seated female allegory of Industry occupies the right portion of the note. Print and series numbers appear in black, with the order number rendered in red. |
|---|---|
| Obverse lettering | BANCO NACIONAL DO BRAZIL, RIO DE JANEIRO. Na Thesouraria do Banco se pagará ao portador em moeda de ouro e à vista a quantia de VINTE MIL REIS Nos termos do Decreto nº 253 de 8 de Março de 1890. 20 American Bank Note Co., New York (Translation: National Bank of Brazil, Rio de Janeiro The Bank`s Treasury will pay to the bearer in gold coin and at sight the amount of Twenty Thousand Reis Under the terms of Decree No. 253 of March 8, 1890. American Bank Note Co., New York) |
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| Comments |
The Banco Nacional do Brazil was a short-lived institution — chartered in 1889 under the newly proclaimed republic and already in crisis by 1892, when it was absorbed into the Banco da República do Brazil. Its notes were issued during a period of aggressive monetary expansion under Finance Minister Rui Barbosa, a policy known as the "Encilhamento," which flooded Brazil with paper currency and fueled one of the country's earliest speculative crashes.
ABNC produced this first print before the bubble burst. The "S" prefix in the Pick reference flags it as a private bank issue rather than a state emission — a distinction that mattered legally at the time.