20 escudos 1954

Common. While this note is desirable in high grades, the series had substantial circulation and production numbers. eBay market data shows regular sales across all condition grades, with AU/UNC examples typically realizing $25-50, and even EF examples commonly selling for $10-30. The 2016 catalogue value for EF is $30, consistent with its common status. Notes commanding premium prices ($150+) are exceptional graded examples (PMG 67+), not the AU grade in question.

This 20 Escudos note was issued during the Estado Novo regime under the Banco de Portugal, representing Portuguese currency stability in the post-war period. The portrait of D. António Luiz de Menezes, a historical Portuguese figure, reflects the nation's emphasis on classical heritage and continuity. The allegorical female figure on the reverse symbolizes Liberty or national prosperity, common themes in Portuguese banknote design of this era.

The obverse features a bearded portrait of D. António Luiz de Menezes positioned within an ornate oval frame on the right side, rendered in fine engraving with exceptional detail. A large circular medallion with radiating pattern occupies the left side, surrounded by elaborate floral and leaf decorative elements. The reverse showcases an allegorical female figure (representing Liberty or national prosperity) seated in classical pose within an ornate oval frame, flanked by large numerals '20' in decorative rectangular cartouches. Both sides employ sophisticated guilloche borders and multi-colored ornamental designs typical of high-security banknote engraving from this period.

Front side: 'BANCO DE PORTUGAL' (Bank of Portugal), 'VINTE ESCUDOS' (Twenty Escudos), 'OURO' (Gold), 'LISBOA' (Lisbon), '25 DE MAIO DE 1954' (May 25, 1954), 'O VICE-GOVERNADOR' (The Vice-Governor), 'O ADMINISTRADOR' (The Administrator), 'Ch.6' (Chapa/Plate 6), serial number 'UZQ 12584'. Back side: 'VINTE' (Twenty), 'ESCUDOS' (Escudos), '20' (denomination numeral).

Intaglio (recess) engraving combined with letterpress, produced by BWC (Banknote World Corporation or related security printer) without imprint marking. The multicolor printing demonstrates advanced color separation techniques characteristic of 1950s Portuguese banknote production, with distinct layers of green, pink, purple, orange, and cream. The fine line-work, cross-hatching in portrait areas, and complex guilloche patterns are hallmarks of professional security printing designed to prevent counterfeiting.

This is catalogued as Pick P-153a, the primary variety with BWC printer mark (without imprint). The visual analysis confirms Chapa 6 (plate 6), which is part of the standard issue. The date of 25 May 1954 and signature title 'O VICE-GOVERNADOR' are consistent with P-153a specifications. Other catalogued varieties include P-153b and P-153cts, also printed by BWC; this specimen's characteristics align definitively with the P-153a designation.