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50 Cruzeiros overprint on 50 Mil Réis P# 59
| Issuer | Tesouro Nacional (National Treasury of Brazil) |
|---|---|
| Year | 1942 |
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| Reference(s) | P#128 |
| Obverse description | Printed in violet by intaglio and lithography, the obverse carries an oval portrait vignette at left of Joaquim Xavier da Silveira (1840–1874), captioned 'XAVIER DA SILVEIRA' beneath. The central field bears the numeral '50' above the inscriptions 'CINCOENTA MIL RÉIS / VALOR RECEBIDO', with serial numbering, pattern, and series printed in red; the upper margin carries the title 'REPUBLICA DOS ESTADOS UNIDOS DO BRASIL' and the treasury payment clause, while the manufacturer's imprint of Waterlow & Sons Limited, London, appears at the lower edge. A diagonal facsimile conference signature crosses the note body, and overprint stamps in blue — applied by the Casa da Moeda in the upper-left and lower-right corners — read 'CASA DA MOEDA / 50 / CRUZEIROS', converting the face value from 50 Mil Réis to 50 Cruzeiros. |
|---|---|
| Obverse lettering | REPUBLICA DOS ESTADOS UNIDOS DO BRASIL NO THESOURO NACIONAL 50 SE PAGARÁ AO PORTADOR DESTA A QUANTIDADE DE L CASA DA MOEDA 50 CRUZEIROS 50 50 50 CASA DA MOEDA 50 CRUZEIROS CINCOENTA MIL REIS VALOR RECEBIDO XAVIER DA SILVEIRA L 50 WATERLOW & SONS LIMITED, LONDRES. (Translation: Republic of the United States of Brazil in the National Treasury will be paid to the holder of this amount of Mint 50 Cruzeiros Fifty Thousand Réis Amount Received Xavier da Silveira Waterlow & Sons Limited, London.) |
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| Comments |
When Brazil's 1942 monetary reform abolished the Mil Réis and introduced the Cruzeiro at par, the Tesouro Nacional faced a practical problem: vast stocks of Waterlow-printed Mil Réis notes were already in circulation. Rather than withdraw them all at once, the Treasury applied a simple overprint — "50 CRUZEIROS" — to the existing 50 Mil Réis sheets, creating P#128 as a transitional instrument. The overprint was applied in Brazil, not in London.
Misaligned or double-struck overprints occur with enough frequency in this series to be considered a known production irregularity rather than a true rarity.