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500 Mil Réis Banco do Brasil, Provisional Issue

Issuer Banco do Brasil
Year 1923
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Value 500 000 Réis (500 000)
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Obverse description Sepia on ochre ground, printed in xylography, reusing the plate of the 13th issue of the Thesouro Nacional (P#90). A central oval vignette presents a steam locomotive in motion alongside a seated male figure, flanked on either side by large ornate letter "D" numerals representing 500 in Roman notation. Print, serial, and order numbers are rendered in red, and a red "SPECIMEN" overprint is applied diagonally across the face.
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Reverse description Printed in sepia by woodcut engraving on an ochre ground. The central vignette carries the Arms of the Republic of the United States of Brazil — a five-pointed star set within a circular wreath, inscribed "ESTADOS UNIDOS DO BRASIL / 15 DE NOV. DE 1889" — surrounded by dense lathe-work guilloche borders. Denomination numeral "500" appears within ornate guilloche rosettes at left and right, with the legend "QUINHENTOS MIL RÉIS" along the lower border; two diagonal red "SPECIMEN" overprints are applied across the face.
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Comments

Brazil's Banco do Brasil notes of the early 1920s were frequently provisional in the most literal sense — existing stock was overprinted or modified rather than replaced outright, largely because Casa da Moeda lacked the capacity to keep pace with the inflationary pressures following World War One and the subsequent commodity slump that hit Brazilian coffee revenues hard. This particular provisional issue reflects that institutional scramble.

Pick 110 is among the less documented entries in the Banco do Brasil provisional series, and genuine examples with clear overprint impressions are more elusive than catalog frequency might suggest.

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