20 escudos 1945

Common. This is a regular-issue banknote from a major colonial bank with no indicators of restricted print runs, recalls, or short-lived issuance. The eBay market data provided shows consistent sales activity at modest prices ($12.50–$35 USD depending on condition), with VF examples selling for approximately $32–$35. The 2016 catalogue values ($10 VG, $35 VF, $150 UNC) and active trading history confirm strong availability in the market. No evidence suggests scarcity in the observed VF grade.

Issued during World War II in 1945, this banknote represents the Banco Nacional Ultramarino's monetary control over the Portuguese colony of Mozambique, reflecting Portugal's Estado Novo regime's tight grip on colonial finances. The prominent depiction of sailing ships and the allegorical female figure pointing toward maritime commerce underscore the economic importance of naval trade routes and colonial commerce to Portugal's imperial system. António Ennes, the historical figure portrayed, was a significant Portuguese administrator in colonial Africa, making his appearance on the note a symbol of Portuguese administrative authority in Mozambique.

The obverse features a three-quarter profile portrait of António Ennes, a Portuguese colonial administrator, positioned at the left side with a bearded, dignified appearance befitting his administrative rank. A sailing ship vignette in a circular frame occupies the right side, symbolizing maritime commerce and colonial trade networks. The reverse presents an allegorical female figure in classical drapery—representing Commerce or Navigation—gesturing toward a multi-masted sailing vessel, emphasizing the economic themes of colonial Portuguese trade. Both sides employ ornate Baroque-style decorative elements, corner ornaments, and coat-of-arms emblems. The color palette consists of blue as the dominant hue on the obverse with multicolor underprinting, while the reverse features green tinting with gray and beige accents, creating visual distinction between the two sides.

FRONT: 'BANCO NACIONAL ULTRAMARINO' (Ultramarino National Bank), 'DECRETO NO.17/154' (Decree No. 17/154), 'MOCAMBIQUE' (Mozambique), 'VINTE ESCUDOS' (Twenty escudos), '5 DE SETEMBRO DE 1945' (5th of September 1945), 'ANTONIO ENNES' (António Ennes), 'O ADMINISTRADOR' (The Administrator), 'O PRESIDENTE DO CONSELHO ADMINISTRATIVO' (The President of the Administrative Council), 'BRADBURY, WILKINSON & CO LTD NEW MALDEN, SURREY, ENGLAND' (printer attribution). BACK: 'BANCO NACIONAL ULTRAMARINO' (Ultramarino National Bank), 'PAGAVEL NA COLONIA DE MOCAMBIQUE' (Payable in the colony of Mozambique), 'BRADBURY, WILKINSON & CO.LTD NEW MALDEN, SURREY, ENGLAND' (printer attribution).

Intaglio engraving, executed by the London security printer Bradbury, Wilkinson & Co Ltd (New Malden, Surrey, England), as documented in the printer attribution visible on both sides. The complex line work, cross-hatching in background areas, intricate border patterns, and fine detail throughout indicate the high-security engraving standards characteristic of Bradbury Wilkinson's colonial banknote production. The overprinted cartouche on the obverse demonstrates additional security measures through layered printing techniques.

The observed specimen bears the serial number 4.108.056 and dates to the 5th of September 1945 issue, placing it within the standard 1945 printing of Pick P-96. Bradbury Wilkinson & Co Ltd printed the entire series, and no major varieties (different signatures, substantial date variations, or overprint types) are documented for this denomination. The note represents the standard variety for the 1945 issue; individual serial number variations would constitute minor collector details rather than distinct catalogable varieties.