50 avos 1944

Common. The catalog price data from realbanknotes.com shows consistent eBay sales ranging from approximately $3.50 to $566 depending on condition, with AU/UNC examples typically bringing $60-90. The high volume of sales transactions across multiple condition grades (VG, F, VF, EF, and certified PMG grades) indicates substantial circulation through the collector market. While specific print run figures are not available, the frequency of specimens encountered and the broad price range indicate this was a standard, regularly produced issue without significant supply constraints. AU examples are not particularly scarce relative to other denominations from this era.

Issued during the final year of World War II, this banknote represents Macau's monetary system under Portuguese colonial administration. The Portuguese coat of arms prominently displayed in a laurel wreath symbolized Portugal's sovereignty over the territory, while the bilingual Portuguese-Chinese inscriptions reflected Macau's unique position as a Portuguese enclave within Chinese territory. The 1944 date places this issue during a period of economic uncertainty in Asia, yet the note's production by The Hong Kong Printing Press demonstrates the practical commercial relationships that continued despite wartime disruptions.

The obverse features a symmetrical design centered on the Portuguese coat of arms within a laurel wreath, representing Portuguese sovereignty and imperial authority. The design is framed by intricate geometric border patterns with diamond motifs executed in purple and light green, creating an ornate, formal appearance befitting a colonial-era banknote. The reverse displays baroque-style ornamentation with heraldic elements—likely lion figures in the lower corners—surrounding a large central oval frame containing the denomination. The bilateral inscription approach (Portuguese and Chinese) reflects the practical bilingual nature of colonial Macau's commercial environment. The denomination markers in circular cartouches in the corners and the clear hierarchical arrangement of text emphasize the note's value and issuing authority.

FRONT: 'BANCO NACIONAL ULTRAMARINO' (Banco Nacional Ultramarino / Overseas National Bank); 'CINCOENTA AVOS' (Fifty avos); 'MACAU' (Macau); '50 AVOS' (50 avos); Serial number 'Nº455619'; 'GERENTE' (Manager); 'LITHO BY THE HONG KONG PRINTING PRESS' (lithographed by The Hong Kong Printing Press); Series letter 'B' (appears left and right); Chinese characters '伍' (five) and '壹' (one/formal numeral). BACK: 'BANCO NACIONAL ULTRAMARINO' (Overseas National Bank); 'MACAU' (Macau); 'CINCOENTA AVOS' (Fifty avos); '50 AVOS' (50 avos); Chinese characters '澳門外國銀行' (Macau Foreign Bank or similar denomination reference).

Lithography, as explicitly stated in the inscription 'LITHO BY THE HONG KONG PRINTING PRESS.' The multi-color printing technique is evident from the distinct color separation visible on both sides—the careful registration of purple and light green on the obverse and orange on the reverse. The fine detail work in the borders, laurel wreath, and decorative elements demonstrates the capabilities of lithographic printing, while the crisp, well-defined inscriptions and symbols indicate careful plate preparation and printing quality typical of The Hong Kong Printing Press's work.

The key distinguishing feature of this Pick 21 issue is the presence of block letters 'A-J' positioned at left and right sides of the obverse, a feature specifically absent from the earlier Pick 17 issue of the same denomination. The collector notation 'serie B' indicates this specimen bears the series letter 'B,' suggesting multiple series were printed. The serial number 455619 appears to be in mid-range, consistent with a standard production run. No unusual overprints, color varieties, or printing errors are visible in the analyzed specimen. The signature in the lower right appears to be a standard manager's signature (GERENTE) rather than a rare variety signature.