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500 Escudos

Issuer Banco Nacional Ultramarino
Year 1945
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Shape Rectangular
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Reverse description Brown and purple, with a central intaglio vignette showing a standing female figure in the foreground gazing toward a harbour scene with a full-rigged sailing vessel and a steam ship at centre. Elaborate guilloche rosettes in brown and purple frame the numeral "500" in medallion cartouches at left and right, with the bank name in bold letterpress across the upper register.
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Variants P#46s - Specimen (ESPÉCIME overprint, punch-cancelled)
Comments

Banco Nacional Ultramarino occupied an unusual position in Portuguese colonial finance — it was a private bank chartered to act as the central issuing authority across Portugal's overseas territories, from Mozambique to Timor. This 500 Escudos note belongs to the Mozambique series, issued at a moment when wartime disruption to shipping and supply chains made even routine currency replenishment a logistical challenge. Bradbury, Wilkinson continued printing for colonial issuers throughout the war from their New Malden facility, though delivery schedules were anything but predictable.

The P#46 series is notably scarce in used grades, suggesting limited release rather than heavy withdrawal from circulation.

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