20 cruxeiros 1963

Common. Market data from eBay sales tracking shows consistent sales of UNC examples in the $1.62–$5.10 range from 2014–2023, with lower-grade examples (EF) typically bringing under $2.00. Catalog values from 2019 place UNC specimens at only $2.00, indicating substantial print runs and widespread availability. The series designation (963) and serial range (046092 observed) suggest large-scale production typical of regular-issue cruzeiros from this period. The PMG population data shows minimal professional grading activity, which is consistent with a common note that does not command premium prices.

This note was issued during Brazil's post-war economic modernization period under the Tesouro Nacional (National Treasury). The prominent imagery of Manuel Deodoro da Fonseca, the first President of the Brazilian Republic, and the allegorical 'Proclamation of the Republic' scene on the reverse commemorate Brazil's transition from monarchy to republic in 1889. The 1963 issue date places this note in the final years before Brazil's currency reform, making it a representative artifact of mid-20th century Brazilian monetary policy.

The obverse features a formal portrait of Manuel Deodoro da Fonseca, first President of the Brazilian Republic, depicted in right profile within an ornate oval frame. He is shown wearing full military dress uniform with decorative medals and insignia, emphasizing his military authority and historical importance. The portrait is surrounded by elaborate ornamental borders in blue and pink/beige tones with fine filigree work and decorative scroll patterns. Multiple denomination numerals '20' appear in ornamental corner frames for easy verification. The reverse displays an allegorical female figure in classical style, seated or reclining in flowing drapery, representing the Proclamation of the Republic of 1889. This allegorical composition is centered with repeated ornamental '20' numerals in decorative frames along both left and right margins, set against a predominantly rose/red background with cream accents.

FRONT: 'REPÚBLICA DOS ESTADOS UNIDOS DO BRASIL' (Republic of the United States of Brazil); 'TESOURO NACIONAL' (National Treasury); 'VINTE CRUZEIROS VALOR LEGAL' (Twenty Cruzeiros Legal Value); 'ESTAMPA 1A' (Print 1A); 'SÉRIE 963' (Series 963); Serial number '046092'; 'CAIXA DE AMORTIZAÇÃO' (Amortization Box); 'MINISTRO DA FAZENDA' (Minister of Finance); 'AMERICAN BANK NOTE COMPANY'; denomination numerals '20'. BACK: 'REPÚBLICA DOS ESTADOS UNIDOS DO BRASIL' (Republic of the United States of Brazil); 'PROCLAMAÇÃO DA REPÚBLICA' (Proclamation of the Republic); 'ESTADOS UNIDOS DO BRASIL' (United States of Brazil); 'AMERICAN BANK NOTE COMPANY'; denomination numerals '20'.

Intaglio engraving, as evidenced by the finely detailed portraiture, intricate filigree patterns, fine line work, and the crisp definition of security elements visible in both the portrait and allegorical designs. The note was printed by the American Bank Note Company of New York, one of the world's premier security printers at the time, using multiple color plates to achieve the blue, pink, red, and beige tones visible on the obverse and reverse. The sophisticated engraved backgrounds, decorative borders, and geometric security patterns are characteristic of American Bank Note Company's mid-20th century production standards.

This example represents the 1963 issue variant of P-168b. The visual analysis notes 'ESTAMPA 1A' (Print 1A) and 'SÉRIE 963,' placing it within the documented production sequence for this denomination. The American Bank Note Company printer attribution is consistent with the 1961–1963 production period. While catalog references note that both 1961 and 1963 dates exist for this Pick number, the 1963 date on this note and the observed series range align with the later production run. No overprints, signatures, or serial anomalies suggesting a distinct variety are evident in the visual analysis; this represents a standard regular issue of the 1963 type.