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10 Patacas

Issuer Banco Nacional Ultramarino
Year 1945
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Printer Waterlow & Sons Limited, United Kingdom (1810-1961)
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Obverse description Printed in red on a cream ground, the obverse carries a central vignette of a traditional Timorese village scene with thatched-roof dwellings set among tropical trees, flanked on the right by the Portuguese armillary sphere coat of arms within a laurel wreath. The bank title appears in large letterpress at the top in both Portuguese and Chinese characters, with the denomination rendered in Portuguese and Chinese, the issue date and decree number at centre-right, and two signature lines below.
Obverse lettering BANCO NACIONAL ULTRAMARINO 行銀理滙外海國洋西大 DEZ PATACAS 拾 TIMOR DECRETO No 17154 LISBOA, 16 de Novembro de 1945 O ADMINISTRADOR O PRESIDENTE DO CONSELHO ADMINISTRATIVO 第摩兩
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Comments

Banco Nacional Ultramarino held the note-issuing concession for Portuguese Macau throughout the colonial period, and this 1945 issue appeared while the territory was still navigating the extraordinary pressures of the Second World War. Macau remained technically neutral under Portuguese administration, but the Japanese occupation of surrounding Guangdong and Hong Kong made that neutrality deeply precarious — the territory was flooded with refugees and its economy strained well beyond normal limits.

Waterlow & Sons printed the series in London, though wartime logistics made delivery uncertain. The two signature combinations reflect successive administrations of the issuing bank rather than separate print runs.

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