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5 Patacas Stamp PAGAVEL EM TIMOR over '5 Patacas', Macau

Issuer Banco Nacional Ultramarino
Year 1946
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Currency Pataca (1894-1959)
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Obverse lettering BANCO NACIONAL ULTRAMARINO
CINCO PATACAS
DECRETO Nº 17154
PAGAVEL EM TIMOR
MACAU
Reverse description The reverse of the underlying Macau note, printed in dark blue-green intaglio by Thomas De La Rue & Company, centres on a circular vignette containing a classical female bust wearing a winged helmet, set within an ornate guilloche border inscribed BANCO NACIONAL ULTRAMARINO. Denomination numerals '5' appear in all four corners alongside Chinese characters (伍 and 伍圓), with the inscription CINCO PATACAS to the left. A bold overprint stamp reading PAGAVEL EM TIMOR is applied in dark ink across the lower centre, partially overlying the original MACAU text.
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Comments

This note began life as a Macau issue before being overprinted with "PAGAVEL EM TIMOR" — payable in Timor — and a new denomination, effectively converting existing Banco Nacional Ultramarino stock for circulation in Portuguese Timor rather than commissioning an entirely separate print run. The practice was economical but not unusual for the BNU, which managed currency across Portugal's scattered colonial territories from a single institutional apparatus.

Portuguese Timor's monetary situation in 1946 was still unsettled following the Japanese occupation, which had run from 1942 to 1945 and left the colony's earlier circulating currency badly disrupted. The overprint was a stopgap measure while more permanent arrangements were established.

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