10 avos 1942

Common. Despite being an 80+ year old note from the World War II era, this denomination and issue show characteristics of regular circulation notes rather than short-run emergency currency. The eBay market data provided shows an AUNC example selling for $343 in 2015, with 2016 catalog valuations placing UNC examples at $250 - prices consistent with moderately traded common colonial notes. The print run was substantial enough to ensure continued availability in the collector market. No historical evidence suggests limited production or recalls for this Pick number.

Issued during Japan's occupation of Macau in World War II, this banknote represents a transitional period in Macau's monetary history under Portuguese colonial administration. The Banco Nacional Ultramarino, Portugal's overseas banking institution, maintained currency issuance authority even under wartime conditions, as evidenced by the Portuguese 'BANCO NACIONAL ULTRAMARINO' and 'MACAU' inscriptions visible on both sides. The bilingual Portuguese-Chinese design reflects Macau's unique position as a Portuguese enclave in Chinese territory, with traditional Chinese characters appearing alongside European heraldic elements.

The obverse features the coat of arms of Portugal's Banco Nacional Ultramarino positioned at the upper left, rendered within an ornate wreath design - a heraldic symbol of Portuguese imperial authority. The central design employs a cream-colored oval frame with the denomination '10 AVOS' prominently displayed in a dark banner across the middle. Decorative cross or floral motifs appear in each corner of the design. The reverse presents a mirror-image design focused on a large oval medallion containing the numeral '10' and text 'DEZ AVOS,' surrounded by radiating line patterns and ornamental geometric borders. Circular seals with denomination and Chinese characters appear in the upper right and lower right of the obverse. The overall design aesthetic is classical and ornate, typical of early 20th-century Portuguese colonial currency.

OBVERSE: 'BANCO NACIONAL ULTRAMARINO' (Bank National Overseas); 'MACAU' (Macau); 'DEZ AVOS' or '10 AVOS' (Ten Avos - the denomination); 'GERENTE' (Manager - signature line designation); Serial number: 5025871; Chinese characters '壹貳' (classical numeral representation). REVERSE: 'MACAU BANCO NACIONAL ULTRAMARINO MACAU' (Macau National Overseas Bank Macau - repeated for bilateral design); 'DEZ AVOS' and '10' (denomination); Chinese inscription '澳門外海國道港澳路南口' (Macau maritime/overseas related text in traditional characters).

Letterpress or intaglio printing, executed by the Hongkong Printing Press (HKP) as noted in catalog references. The intricate geometric borders, fine line work visible in the radiating patterns, ornamental cross motifs, and multi-layered color application (blue on cream underprint) are consistent with high-security letterpress production standards of the 1940s era. The crisp definition of the coat of arms and the complex decorative elements would have required skilled intaglio engraving and multiple color passes.

Serial number 5025871 is observed on this example. Varieties for this Pick number likely include different serial number prefixes and signatures (indicated by the 'GERENTE' signature line). The note displays natural age patina and foxing consistent with notes from this production run. No overprints or special markings are evident. Further variety research would require comparison of multiple examples to identify significant signature or prefix variations.