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500 Escudos 2nd. print
| Issuer | Banco de Portugal |
|---|---|
| Year | 1922 |
| Type | Log in to see details |
| Value | 500 Escudos (500 PTE) |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Designer(s) | Log in to see details |
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| Obverse description | Red and black on tan underprint. Portrait of Vasco da Gama at left, with a vignette of sailing ships at right. The plate designation 'Chapa 2' identifies this as the second print. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | BANCO DE PORTUGAL QUINHENTOS ESCUDOS 500 (Translation: Bank of Portugal Five Hundred Escudos 500) |
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| Comments |
Waterlow & Sons printed this series for Banco de Portugal during a period of acute monetary instability in Portugal — the escudo had replaced the real in 1911, but postwar inflation and chronic budget deficits kept denominations climbing steadily through the early 1920s. A 500 escudo note was serious money in 1922, circulating at a time when the exchange rate against sterling was collapsing.
The designation "2nd print" distinguishes this from an earlier Waterlow impression of the same design. Differences between the two printings are subtle and largely confined to ink density and minor typographic spacing — enough to matter to specialists, not enough to have concerned cashiers.