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50 Escudos

Issuer Banco Nacional Ultramarino
Year 1941
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Currency Portuguese Escudo (1914-1975)
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Obverse description Red on multicolour underprint. Portrait vignette of Francisco de Oliveira Chamico at left, with the bank seal at right and arms at lower centre. Intricate guilloche work frames the central composition, with bilingual inscriptions identifying the province and denomination.
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Reverse description Red on multicolour guilloche underprint. A central oval vignette encloses a seated allegorical female figure holding a ship's model, flanked by the denomination numeral '50' on both left and right. A curved arc of fine letterpress text carries the bank name around the upper border of the vignette, with a rectangular overprint panel at top centre inscribed with the provincial designation.
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Comments

Banco Nacional Ultramarino functioned not as a typical central bank but as a privileged colonial issuing house, holding note-issuing rights across Portugal's overseas territories simultaneously — Angola, Mozambique, Portuguese India, Timor, and others — with each territory receiving its own overprinted or dedicated series. This 1941 issue predates the post-war reorganization that would eventually split issuing authority along cleaner territorial lines.

Bradbury Wilkinson's intaglio work for colonial issuers of this period was among the finest available, and BNU returned to them repeatedly through the mid-century. P#39 is one of the scarcer denominations from this run; wartime shipping and disrupted distribution to some territories left portions of certain print orders unissued.

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