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25 Patacas Stamp PAGAVEL EM TIMOR over '25 Patacas', Macau
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 1945 |
| Type | Standard circulation banknote |
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| Obverse description | A Banco Nacional Ultramarino 25 Patacas note originally issued for Macau, counterstamped in 1945 for circulation in Portuguese Timor with a typeset overprint reading 'PAGÁVEL EM TIMOR' applied in dark ink at the top centre. The central vignette is framed by an ornate guilloche ellipse bearing the bank name 'BANCO NACIONAL ULTRAMARINO' in bold letterpressed arcs, with the denomination '$25' appearing in two lateral cartouches and the Portuguese Republic coat of arms at centre. Chinese character panels reading 貳拾伍圓 appear in each corner against a fine pink rose-engine underprint, with the printer's imprint 'BARCLAY & FRY LIMITED, LONDON, E.C.' at the lower margin. |
|---|---|
| Obverse lettering | PAGÁVEL EM TIMOR BANCO NACIONAL ULTRAMARINO $25 REPÚBLICA DE OUTUBRO DE 1910 貳拾伍圓 |
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| Comments |
In 1945, Banco Nacional Ultramarino had no practical means of printing new currency for Timor. The solution was to overprint existing Macau stock with a bilingual "PAGAVEL EM TIMOR" stamp and alter the denomination to 25 Patacas — a field expedient that produced one of the more unusual emergency issues in Portuguese colonial monetary history. Timor had been under Japanese occupation since 1942, and the note's release coincided with the chaotic post-surrender period when any circulating medium was better than none.
Barclay & Fry printed the underlying Macau notes; they had no involvement in the overprinting itself, which was applied afterward as a conversion measure.