2 500 Reis

Banco Nacional Ultramarino occupied an unusual position in Portuguese colonial finance — it held note-issuing rights not just for one territory but simultaneously across multiple overseas possessions, a monopoly arrangement that made it structurally unlike most central or colonial banks of the period. This note predates the collapse of the Portuguese monarchy by barely a year; the Republic was proclaimed in October 1910, and transitional reissues of existing BNU stock were common in the immediate aftermath.

Bradbury Wilkinson's involvement places it within a well-documented production lineage, though attributing specific engravers to individual colonial issues from this house remains difficult without archival records.