Portugal 1799 - Real Erario 20000 Reis Apólice, Original Issue, No Overprint, Lisboa No. 37723
Taken together, this document represents an original-issue Portuguese treasury obligation from a stable pre-war fiscal environment, preserved without the expected overprint and demonstrably recognized through multiple dated treasury validations spanning 1799 to 1811. Its significance lies not only in age and denomination, but in its administrative anomaly, documented longevity, and status as a reference-level survivor of late eighteenth-century Portuguese state finance. Read more →