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5 Avos Stamp PAGAVEL EM TIMOR over '5 Avos', Macau
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1940 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#7 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | MACAU BANCO NACIONAL ULTRAMARINO PAGAVEL EM TIMOR CINCO AVOS 伍仙 |
| Reverse description | Log in to see details |
| Reverse lettering | MACAU BANCO NACIONAL ULTRAMARINO MACAU 5 CINCO AVOS 大西洋國海外理銀行 仙伍 澳門 PAGAVEL EM TIMOR |
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| Comments |
When Japanese forces threatened the region in 1940, Timor faced an acute shortage of small-denomination currency. The Banco Nacional Ultramarino's solution was blunt: take unissued Macau notes, apply a handstamp reading "PAGAVEL EM TIMOR" — payable in Timor — and release them into circulation as a stopgap. The overlay also converts the face value, placing 5 Avos over whatever the underlying Macau denomination read.
The Hongkong Printing Press connection is worth noting: BNU relied heavily on Hong Kong-based commercial printers for its colonial issues during this period, a supply chain that would become untenable within two years of this note's issue.