1 cruzeiro 1954

Common. This note is a regular issue from a substantial print run (series numbers 2701-3450 noted in reference catalogs indicate wide distribution). eBay market data shows consistent sales of UNC examples at $1-4 USD across multiple years (2009-2025), with even professionally graded PMG 65-66 examples selling in the $12-32 range historically. The 2016 catalog value of $1 UNC further confirms common status. While the PMG 67 grade shown here represents exceptional preservation and commands premium pricing, the underlying note type is not scarce.

This note was issued during the latter years of the Getúlio Vargas era (1951-1954), a period of economic transition for Brazil as the country modernized its infrastructure and financial institutions. The depiction of the Naval School on the reverse reflects Brazil's investment in military modernization and institutional development during the 1950s. The Cruzeiro currency itself represented Brazil's monetary system during this crucial mid-20th century period before the currency underwent significant reformation.

The obverse features a central oval medallion portrait of Marquês de Tamandaré, a 19th-century Brazilian naval hero, depicted as an elderly bearded man wearing formal military uniform with decorations. The portrait is surrounded by elaborate classical ornamental elements including scrollwork, cornucopiae (horns of plenty), guilloche patterns in blue and tan, and corner emblems. The denomination numeral '1' appears in ornamental corner designs. The reverse depicts the Escola Naval (Naval School) of Rio de Janeiro as a prominent modern institutional building with horizontal architectural lines characteristic of 1950s design, set against a waterfront or harbor scene. The building vignette is framed by classical decorative borders and ornamental designs with fine-line engraving. Both sides employ a sophisticated color palette of blue, cream, tan, and black.

FRONT SIDE: 'REPÚBLICA DOS ESTADOS UNIDOS DO BRASIL' (Republic of the United States of Brazil) | 'SE PAGARÁ AO PORTADOR' (Payable to Bearer) | 'DESTA A QUANTIA DE' (Of this amount of) | 'UM CRUZEIRO' (One Cruzeiro) | 'VALOR RECEBIDO' (Value Received) | 'SÉRIE 3169A' (Series 3169A) | Serial number: 090909 | 'DIRETOR CAIXA DE AMORTIZAÇÃO' (Director of Amortization Fund) | 'MINISTRO DA FAZENDA' (Minister of Finance) | 'DO TESOURO NACIONAL' (Of the National Treasury) | 'AMERICAN BANK NOTE COMPANY' (printer identification) | BACK SIDE: 'REPÚBLICA DOS' (Republic of) | 'ESTADOS UNIDOS DO BRASIL' (United States of Brazil) | 'ÉTATS NAVAIS' (Naval School/Naval States) | 'AMERICAN BANK NOTE COMPANY' (printer identification)

Intaglio (line engraving and photogravure) printing by the American Bank Note Company, New York. The note displays characteristic ABNC security features including complex guilloche background patterns, fine line engraving throughout all ornamental elements, multiple color lithography for the base design, and precise registration. The vignettes—particularly the portrait medallion and the Naval School building—demonstrate the high-quality photogravure work for which ABNC was renowned. Serial numbers appear in red, printed separately, with visible repeat patterns (090909) indicating multiple passes.

This specimen is identified as Pick P-150c, which represents the 'Valor Recebido' (Value Received) variety issued by Tesouro Nacional. The visual analysis confirms Series 3169A with serial number 090909, placing it within the documented series range of 2701-3450. The note shows printed signatures of the Director (Diretor Caixa de Amortização) and Minister of Finance (Ministro da Fazenda), consistent with regular issue protocols. The PMG holder indicates this is variant 150c (base Pick number 150 with 'c' designation), with catalog records noting PMG has documented at least one variant (150d) for this base Pick number. No overprints or unusual markings are visible.