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5 Patacas Banco Nacional Ultramarino
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1945 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Cotton paper |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | The reverse, printed entirely in green, is structured around an elaborate guilloche framework with two large rosette medallions bearing the numeral 5 at left and right, enclosing a central oval vignette of a steamship underway at sea, encircled by the bank's name and the legend COLONIAS COMMERCIO AGRICULTURA. Chinese denomination characters appear in the upper corners, while the value in words is stated in the lower margin. |
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| Protection description | Banco Nacional Ultramarino emblem watermark, visible when held to light |
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| Comments |
Waterlow & Sons printed this note for Banco Nacional Ultramarino during the final year of the Second World War, when Macau occupied an unusual position as a Portuguese enclave that had remained nominally neutral throughout the Pacific conflict. Japanese forces controlled the surrounding territory and exercised considerable pressure on the administration, yet the colony maintained its own currency and banking apparatus throughout.
Pick 29 is scarcer than its catalog number suggests. The 5 Patacas denomination saw heavy daily use in a small, cash-dependent economy, and attrition was correspondingly high. Waterlow's single-color watermark security was already considered minimal by 1945 standards.