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| 正面描述 | The Macau colonial arms appear at top centre, flanked by block letters (A through J) at left and right margins serving as control identifiers. The face is printed in a subdued colour scheme with the issuer name and denomination inscribed in both Portuguese and Chinese characters. A single manuscript signature appears at lower right. |
|---|---|
| 正面铭文 | 登录 以查看详情 |
| 背面描述 | 登录 以查看详情 |
| 背面铭文 | MACAU BANCO NACIONAL ULTRAMARINO CINCOENTA AVOS 50 AVOS 毫伍 行銀理滙外海國洋西大 門澳 |
| 签名 | 登录 以查看详情 |
| 防伪类型 | 登录 以查看详情 |
| 防伪描述 | 登录 以查看详情 |
| 变体 | 登录 以查看详情 |
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The Banco Nacional Ultramarino's wartime Macau issues were printed locally under Japanese occupation of Hong Kong — which makes the Hongkong Printing Press attribution here genuinely awkward. Hong Kong fell to Japan in December 1941, and by 1944 any commercial printing there operated under Japanese administration. Macau itself remained nominally Portuguese throughout the war, a precarious neutrality that kept the colony functioning as a financial enclave even as the surrounding region collapsed.
Whether this note was actually produced in occupied Hong Kong or whether the imprint reflects an earlier printing arrangement is a question the physical evidence of surviving examples hasn't fully resolved.