

This is an exceptional example of Brazil's 1975 Cruzeiro note (Pick P-191Ab) graded PMG 68 EPQ, representing the higher end of the condition spectrum for this common issue. The note features a classical Liberty head portrait in medallion form on the obverse and the Banco Central do Brasil building on the reverse, both rendered in crisp dark green intaglio printing on a light greenish-cream background. The pristine paper quality, sharp impressions, and complete absence of wear make this a desirable uncirculated example for collectors of Brazilian currency.
Common. This is a regular issue from 1975 with substantial print runs. Market data shows consistent eBay sales across multiple grade levels from 2012-2021, with even PMG 65-66 examples selling for $10-16, indicating adequate supply. Catalog values are minimal ($0.75 for UNC as of 2019), confirming this as a readily available note in the collector market.
Issued in 1975 during Brazil's military dictatorship period, this note reflects the Central Bank's assertion of institutional authority through its own depiction on the reverse. The classical Liberty head and civic building imagery represent the regime's attempt to project stability and institutional legitimacy during a period of significant economic transformation and inflation that would eventually necessitate currency revaluations throughout the 1970s-1980s.
The obverse features a classical profile portrait (Liberty head) enclosed in a circular medallion positioned on the right side, accompanied by ornamental geometric patterns with crossed lines forming decorative designs on the left. The denomination '1' appears in a decorative geometric frame in the upper right corner. The reverse presents the Banco Central do Brasil building—a classical civic structure with columns and pediment—in a circular medallion on the left side, with the denomination '1' repeated in a similar decorative frame in the lower right corner. Both sides employ the bank's institutional branding at the top and bottom respectively.
Front: 'BANCO CENTRAL DO BRASIL' (Central Bank of Brazil), 'UM CRUZEIRO' (One Cruzeiro), denomination '1'. Back: 'BANCO CENTRAL DO BRASIL' (Central Bank of Brazil), 'UM CRUZEIRO' (One Cruzeiro), denomination '1'. Serial numbers appear as alphanumeric combinations (observed: B09699, 040000 series components).
Intaglio printing (engraved) by Casa da Moeda do Brasil (CdM-B), evidenced by the fine parallel line work, intricate geometric patterns, and characteristic depth of the imagery. The crisp registration and sharp detail throughout confirm professional high-security currency production standards.
Pick P-191Ab variant with CdM-B printer marking. The note displays serial number prefix 'B' with series number components visible. PMG has catalogued at least two variants for the P-191 base number (P-191Ac and P-191s), though the specific distinguishing features between variants are not definitively documented in available references. This example's EPQ designation indicates exceptional paper quality with no issues.