5 Mil Réis Thesouro Nacional, 16th. Print

Brazil's Thesouro Nacional issued multiple consecutive "prints" of its early twentieth-century Mil Réis series without redesigning the plates, meaning the 16th print designation tracks production runs at the Casa da Moeda rather than any meaningful change in the note itself. By 1920 the Casa da Moeda had been printing this denomination domestically for years, a point worth noting given how much Brazilian paper of the preceding decades had depended on European contractors.

The Mil Réis was already under inflationary pressure by this date — Brazil's external debt and coffee-price volatility had been straining the currency since the Encilhamento speculation crisis of the early 1890s, and the unit would eventually be replaced by the Cruzeiro in 1942.