2,50 escudos 1920

Common. The eBay price history provided shows this note in VG condition selling regularly between $66-$123.50 in the 2015-2016 period, and more recently at $98 in 2023. Catalog values for 2016 list VG at $30, indicating moderate collector demand but consistent availability. The 1920 issue date and standard printing (Chapa 1) suggest adequate print runs. This is not a scarce or rare note in the context of early 20th-century Portuguese currency.

This note was issued during a turbulent period in Portuguese history, just two years after the end of World War I and during the early years of the Portuguese First Republic. D. Nuno Álvares Pereira, depicted on the obverse, was a revered 14th-century Portuguese military commander and national hero, representing Portuguese valor and independence. The allegorical female figure on the reverse embodies the spirit of the Portuguese nation, reflecting the Republican ideals of the period.

The obverse features an ornate design with green and teal filigree borders and intricate decorative scrollwork in the corners. At the center is an elaborate circular medallion containing the Portuguese coat of arms (shield with cross design). To the right of this central seal is a circular portrait frame containing D. Nuno Álvares Pereira, a bearded historical figure shown in profile facing right, positioned as a national hero honored by the Republic. The reverse depicts a seated allegorical female figure on the left side, rendered in blue and gray engraving, representing either Liberty, Portugal, or national prosperity. She is positioned with a globe, suggesting global commerce or Portuguese overseas presence. The denomination and text are contained within ornate cartouche frames. Both sides employ elaborate engraved borders with green ornamental elements, demonstrating the high-quality bank note engraving standards of the period.

Front side: 'Banco de Portugal' (Bank of Portugal) appears in cursive script across the upper portion. The denomination is shown as '2$50' in the upper right corner. Full denomination text reads 'DOIS ESCUDOS E CINCOENTA CENTAVOS' (Two Escudos and Fifty Centavos). The issue date and place are noted as 'Lisboa-10-Julho-1920' (Lisbon - July 10, 1920). Official signatures are labeled 'O Director' (The Director) and 'O Governador' (The Governor), with signatures appearing as 'Duarte Bizarro' and another official signature. 'PRATA' (Silver) appears below the central seal. Back side: 'Banco de Portugal' appears in an arc at the top. The denomination '2$50' is prominently displayed with full text 'DOIS ESCUDOS E CINCOENTA CENTAVOS' (Two Escudos and Fifty Centavos) in a decorative banner.

Steel engraving and letterpress printing, as indicated by the fine line work, intricate filigree patterns, and detailed engraved security elements visible throughout the note. The note was printed by BWC (Bradbury, Wilkinson & Company), a renowned security printer known for high-quality banknote production. The multicolor printing technique, visible in the green, red, blue, and black color separation, indicates multiple printing passes typical of early 20th-century banknote production.

This note is identified as Pick P-119, the standard 2.50 escudos note from 1920 printed by BWC. The note bears the date 'Lisboa-10-Julho-1920' (Lisbon, July 10, 1920) and is marked as 'Chapa 1' (Plate 1), indicating the first printing plate used. The signatures of Duarte Bizarro and the Governor are present. This appears to be the standard 1920 issue variety, with no reported overprints or special variations indicated. PMG cataloging confirms one primary variant for Pick P-119.