10 Escudos

Banco Nacional Ultramarino issued this note for Timor, one of its more remote colonial territories — a detail that matters because BNU served as the currency-issuing authority across multiple Portuguese overseas possessions simultaneously, with each territory receiving distinct note series. By the mid-1930s, Timor's economy was built almost entirely around coffee and sandalwood export, and the monetized sector was thin enough that notes of this denomination circulated alongside barter for years.

Bradbury Wilkinson's intaglio printing is characteristically fine for the period. The firm held BNU contracts across several series throughout the colonial era.