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500 Escudos
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1924 |
| Type | Log in to see details |
| Value | 500 Escudos |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
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| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | 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 | Plain paper reverse with handwritten endorsement text in Portuguese, including a date reference of 30-6-1924 and the notation 'Desconto nos livros da FP Nº 50 de 1924'. Multiple manuscript signatures of bank officials are applied diagonally across the surface, accompanied by a faint embossed seal of the Banco Nacional Ultramarino in the lower left corner. A row of perforated cancellation holes matching the obverse perforation is visible across the upper portion. |
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| Signature(s) | Log in to see details |
| Protection type | Perforation |
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| Comments |
Banco Nacional Ultramarino occupied an unusual position in Portuguese finance — it was a private institution holding colonial note-issuing rights across Portuguese Africa and Asia simultaneously, a concentration of monetary authority that would have been unthinkable for a metropolitan bank. The 1924 500 Escudos belongs to a series for metropolitan Portugal itself, issued during a period of severe fiscal instability when the escudo had already lost most of its pre-war gold parity.
Waterlow & Sons produced the plates. Perforation as the primary security feature reflects the budget constraints of the period — intaglio printing was expensive, and Portugal's finances in 1924 left little room for elaborate paper security.