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50 000 Reis 50 Mil Reis; overprint
| Issuer | Banco de Portugal |
|---|---|
| Year | 1891 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Real (decimalized, 1842-1910) |
| Composition | Log in to see details |
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| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Red-brown guilloche pattern covers the entire field; the numeral "50" and the denomination in text occupy the centre, with the value repeated in each corner and in a large underprint watermark-style design behind the central guilloche. |
| Reverse lettering | 50 REIS 50 CINCOENTA 50 MIL 5 (Translation: Fifty Thousand) |
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| Comments |
Portugal's financial crisis of 1891 — triggered by the collapse of Brazilian rubber revenues, chronic trade deficits, and a catastrophic debt service burden — forced the government to suspend gold payments in May of that year. The Banco de Portugal responded with emergency measures, one of which was the creation of high-denomination overprinted notes to stretch existing paper money supply. This 50,000 Réis was produced by overprinting earlier stock at the bank's own Lisbon facility rather than commissioning new engraved plates abroad.
The 1891 suspension proved permanent in practice; Portugal did not return to the gold standard until 1931, by which point the réis itself had been replaced by the escudo at a rate of 1,000 to one.