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50 Mil Réis Caixa de Estabilização, overprint on 50 Mil Réis P# 58
| Issuer | Caixa de Estabilização |
|---|---|
| Year | 1926 |
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| Printer | American Bank Note Company, New York, United States |
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| Obverse description | Printed in blue on a polychrome underprint, in intaglio and lithography, this note represents an overprint applied to the 16th printing of the Thesouro Nacional issue (P#58). At centre, a portrait vignette of Artur da Silva Bernardes, 12th President of the Republic (1922–1926), flanked on either side by the denomination numeral 50. A diagonal manuscript conference signature crosses the body of the note, accompanied by two further authorising signatures; near the upper margin, a rectangular black typographic stamp bears the full gold-redemption text of the Caixa de Estabilização pursuant to Law No. 5108 of 18 December 1926. |
|---|---|
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| Reverse lettering | 50 REPÚBLICA DOS ESTADOS UNIDOS DO BRAZIL AMERICAN BANK NOTE COMPANY (Translation: Republic of the United States of Brazil American Bank Note Company) |
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| Comments |
The Caixa de Estabilização was Brazil's short-lived currency stabilization board, established in 1926 under President Bernardes to peg the milréis to gold at a fixed rate. The overprint on existing Banco do Brasil stock — rather than commissioning entirely new plates — was a deliberate economy, reflecting the fiscal constraints that made stabilization so difficult in the first place. The board was dissolved in 1930 following the revolution that brought Getúlio Vargas to power, and the gold convertibility experiment ended with it.
The overprint origin on P#58 base notes means condition varies significantly depending on the state of the underlying note at the time of stamping.