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5 Centavos
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1918 |
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| Value | Log in to see details |
| Currency | Escudo (1914-1974) |
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| Obverse description | Black letterpress on light-green guilloche underprint. The denomination numeral '5' appears within a circular rosette at left, while the bank seal with a sailing ship vignette is at right. A central cartouche bears the denomination legend 'CINCO CENTAVOS' flanked by decorative scrollwork, with the issuing place and date in italic script below and the Governor's manuscript signature at lower right. |
|---|---|
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| Reverse lettering | COLONIAS, COMMERCIO, AGRICULTURA BANCO NACIONAL ULTRAMARINO (Translation: Colonies, Commerce, Agriculture National Overseas Bank) |
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| Comments |
The Banco Nacional Ultramarino operated as a colonial issuing bank, and this 1918 emergency fractional note was produced in direct response to a severe coin shortage that gripped Portugal and its overseas territories during the First World War. Bronze and nickel coinage effectively vanished from circulation as metal was hoarded and diverted — small-denomination paper filled the gap across the Portuguese-speaking world.
The printer, Typographia Annuario Commercial, was a Lisbon commercial press better known for trade directories than currency work. That choice alone signals the urgency of the issue.