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| 正面描述 | Central intaglio portrait of Manuel da Silva Passos (Passos Manuel) in an oval vignette, flanked by guilloche panels bearing the denomination numeral 50 on each side. The bank title arcs across the top with the Portuguese royal arms, date and place of issue at upper left, and signature lines for O Director and O Governador at foot. |
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| 背面铭文 | BANCO DE PORTUGAL 50 CINCOENTA ESCUDOS TERREIRO DO PAÇO |
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Pick 116 belongs to a short-lived series that Banco de Portugal issued in the immediate aftermath of the First World War, when Portugal's public finances were under severe strain. The country had entered the war in 1916 partly to protect its African colonies from Allied partition, and the resulting debt — compounded by wartime inflation — forced repeated emergency emissions throughout 1920.
The "Diário de Notícias" designation in this collection's naming refers to a promotional series issued by the Portuguese newspaper of the same name, where reproduction notes were distributed as collectibles with print runs — not legal tender, but catalog-documented facsimiles of genuine circulating types.
The genuine P#116 was printed by Waterlow & Sons in London.