Catalog
5 Centavos overprinted on P# 179
| Issuer | Banco Central do Brasil |
|---|---|
| Year | 1966-1967 |
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| Currency | Cruzeiro novo (1967-1986) |
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| Obverse description | Printed in purple on a polychrome underprint, combining intaglio (chalcography) and offset techniques. A central vignette presents the portrait of Princess Isabel (Isabel Cristina Leopoldina Augusta Micaela Gabriela Rafaela Gonzaga de Bourbon-Duas Sicílias e Bragança), enclosed within an ornate decorative frame and flanked by the denomination numeral 50. A circular overprint stamp reading 'BANCO CENTRAL - 5 CENTAVOS' is applied to the face of the note. |
|---|---|
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| Variants | P#184a - series 786-1313 incorrect spelling of "Ministro" as "MINSTRO" P#184b - series 1314-1885 correct spelling of "MINISTRO" |
| Comments |
This note was not printed fresh — it is a provisional overprint applied to existing 50 Centavos stock (Pick 179) after Brazil's 1966 monetary reform slashed the cruzeiro by a factor of ten, making each old 50 Centavos note equivalent to the new 5 Centavos value. Overprinting existing reserves was cheaper and faster than commissioning an entirely new printing run, and De La Rue handled both the original notes and the overprint work.
The reform that created this note — the cruzeiro novo — was introduced under the military government's stabilization program, PAEG, designed to bring Brazil's chronic inflation under control. The overprint series was always a stopgap; within a few years the denomination had become essentially worthless in daily transactions.