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200 Cruzeiros Thesouro Nacional, 1st print, 'Valor Recebido'

Issuer Tesouro Nacional (National Treasury of Brazil)
Year 1955-1959
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Value 200 Cruzeiros (200 BRZ)
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Obverse description Blue intaglio on polychrome offset underprint. At centre, within an ornate decorative frame with guilloche elements, a portrait vignette of Dom Pedro I (Pedro de Alcântara Francisco António João Carlos Xavier de Paula Miguel Rafael Joaquim José Gonzaga Pascoal Cipriano Serafim), flanked on either side by the denomination numeral 200. Issuing authority inscriptions, value text, and the imprint of the American Bank Note Company appear in the surrounding legend, with the notation 'VALOR RECEBIDO' also present.
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Reverse lettering 200 200 REPÚBLICA DOS ESTADOS UNIDOS DO BRASIL GRITO DO IPIRANGA 200 200 AMERICAN BANK NOTE COMPANY.
(Translation: Republic of the United States of Brazil Shout of Ipiranga American Bank Note Company.)
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Comments

Eugênio Gudin's signature on the earlier series is the detail worth pausing on. One of Brazil's most influential economists and a committed anti-inflationist, Gudin served briefly as Finance Minister in 1954–55 under Café Filho — long enough to sign this note, not long enough to stop the inflationary spiral that would eventually make 200 cruzeiros feel trivial. Lucas Lopes, who replaced him on the later series, faced the same structural pressures under Kubitschek's industrialization push.

The 'Valor Recebido' inscription distinguishes this first printing from subsequent issues of P#154.

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