20 cruxeiros 1962

Common. eBay market data shows consistent sales across multiple condition grades from 2014-2023, with UNC specimens regularly selling in the $1.99-$6.22 range, and only exceptional graded examples (PMG 67) reaching $51. The 2019 catalog valuation of $2.25 for UNC confirms this as an ordinary circulating issue with substantial surviving quantities. The note was a regular issue with no known recalls or production limitations, and Brazilian 20 Cruzeiros notes from this era remain abundant in the collector market.

Issued by the Brazilian Tesouro Nacional (National Treasury) in 1962, this note commemorates the early republican period of Brazil through its carefully chosen imagery. The portrait of Manuel Deodoro da Fonseca, the first President of the Brazilian Republic, and the reverse's allegorical 'Proclamation of the Republic' scene with the Phrygian cap symbolism reflect Brazil's enduring civic identity during a period of political transition and modernization in the early 1960s.

The obverse features a left-facing portrait of Manuel Deodoro da Fonseca, the founding President of the Brazilian Republic (1889-1891), depicted in military uniform with decorative medals and insignia on the chest. The portrait is enclosed within an elaborate oval ornamental frame with baroque flourishes. The denomination '20' appears in all four corners within ornate square cartouches. The reverse presents an allegorical female figure personifying the Brazilian Republic, wearing classical robes and a Phrygian cap (the traditional symbol of liberty and republicanism), depicted in a contemplative, reclining pose with radiating light rays emanating from behind, symbolizing enlightenment and the dawn of the republican era. Both sides feature extensive decorative borders with scrollwork and floral designs typical of high-security banknote engraving. The color scheme employs brown and tan tones on a cream/white base.

FRONT: 'República dos Estados Unidos do Brasil' (Republic of the United States of Brazil); 'Vinte Cruzeiros Valor Legal' (Twenty Cruzeiros Legal Value); 'Tesouro Nacional' (National Treasury); 'Estampa 2A' (Print 2A); 'Série 1609A' (Series 1609A); '098595' (serial number); 'Diretor' (Director); 'Caixa Amortização' (Amortization Fund); 'Ministro da Fazenda' (Minister of Finance); 'Thomas de la Rue & Company, Limited, London'. BACK: 'República dos Estados Unidos do Brasil' (Republic of the United States of Brazil); 'Proclamação da República' (Proclamation of the Republic); 'Thomas de la Rue & Company, Limited, London'; '20' (denomination).

Intaglio engraving (copperplate/steel plate printing), executed by Thomas de la Rue & Company, Limited of London, one of the world's premier security printers. The visual evidence of fine line work, complex guilloche patterns, intricate background hatching, and the crisp, deeply impressed imagery are all characteristic of traditional intaglio methods. The precision of the ornamental details and security features throughout the design reflect the high standards of de la Rue's craftsmanship during this period.

Visual analysis identifies this specimen as 'Estampa 2A' (Print 2A), Series 1609A, with serial number 098595. The note bears the inscription 'Tesouro Nacional' above the portrait and 'Valor Legal' below the denomination, consistent with the standard P-178 variety. No overprints, date variations, or anomalies are visible. The external catalog reference notes that earlier varieties featured 'No Tesouro Nacional' above the portrait and 'Valor Recebido' below the denomination (see P-160 for comparison), but this specimen represents the later, standard P-178 issue with the established Tesouro Nacional and Valor Legal inscriptions.