Collection PL

Portugal ND (1917) — Banco de Portugal 50 Mil Réis Specimen (Pick 110s)

Specimen of the Banco de Portugal 50 Mil Réis, the grandest denomination of the First Republic’s intricate 1916–1919 issue. Printed by Bradbury, Wilkinson & Co., London, without serials or signatures and perforated SPECIMEN, it reveals the full design before numbering and underprint were applied. PMG 35 Choice Very Fine. ... Read more →

Portugal ND (1917) — Banco de Portugal 50 Mil Réis Front Progressive Proof (Pick 110pp1)

Front progressive proof for the Banco de Portugal 50 Mil Réis, printed in a single intaglio color to test composition and line fidelity before the final multi-color stones were prepared. Without underprint or overprint, it exposes the engraver’s hand—the bare guilloche network and portrait cartouche that later defined the completed note. PMG 25 EPQ Very Fine. ... Read more →