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200 Mil Reis

Issuer Banco da República dos Estados Unidos do Brazil
Year 1890
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Printer American Bank Note Company
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Obverse description The obverse is printed in black and green on white paper. At center, a large intaglio vignette shows a neoclassical government building set within a landscape; to the left stands a male figure in work attire, and to the right an allegorical female figure in classical robes holds a staff, rendered in fine line engraving. The upper register carries the issuing bank title across the full width, flanked by the denomination numeral '200' in corner medallions, with a small portrait vignette at upper left and the text 'DUZENTOS MIL REIS' along the lower portion accompanied by a treasury guarantee clause.
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Reverse description The reverse is printed entirely in green. At left, a finely engraved oval vignette contains a portrait of a young child looking upward, set within an elaborate guilloche border of radiating fan patterns that fills the entire field. To the right, an ornate decorative urn with caryatid figures serves as a side vignette, and the denomination '200' appears in the upper right and lower left corners against the intricate geometric underprint.
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The Banco da República dos Estados Unidos do Brazil was itself a creature of crisis — established in 1890 under Finance Minister Rui Barbosa's ill-fated "Encilhamento" reforms, a speculative credit expansion that flooded Brazil with paper money and ultimately collapsed in a severe financial panic by 1891. This note belongs to that initial emission, ordered from the American Bank Note Company as the newly proclaimed republic scrambled to build financial infrastructure from scratch within months of the November 1889 coup.

ABNC's Brazilian work of this period is generally well-executed, but the Encilhamento-era notes were issued so aggressively and in such volume that circulated survivors tend to show heavy wear.