1998 Bank of Portugal 1000 Escudos Note - March 12th, 1998 Date - 1998 Portuguese One Thousand Escudos Banknote - P#188c

This listing is for the photographed 1998 Banco de Portugal 1000 Escudos Bank Note. Issued on March 12th, 1998, in Lisbon, Portugal. The obverse of this note depicts a portrait of Pedro Alvares Cabral on the right end, and the Brazilian coat of arms at the center. The reverse shows an old sailing ship at the center right and native jungle birds and animals underprinted. Almost Uncirculated (AU) great/condition, little to no signs of circulation, crisp note! Great piece of history and an excellent addition to any collection. P#188c (Pick Number 188c).

The Banco de Portugal is the central bank of Portugal, founded on November 19, 1846. Its creation came as a merger between two older institutions: the Banco de Lisboa and the Companhia Confiança Nacional. Initially, it functioned as a private commercial bank with the authority to issue banknotes and manage Portugal’s currency system. By the mid-19th century, Portugal was struggling with financial instability, which led to a lack of confidence in multiple currency issuers. In response, the state sought to centralize control of the money supply. In 1887, the government granted the Banco de Portugal the exclusive right to issue banknotes across the entire country. In 1911 the national currency switched from the Reis to the Escudo, changing the banknotes in the process. The early history of the Bank of Portugal is extremely interesting and provides great insight into the nation's economic history!

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1998 Bank of Portugal 1000 Escudos Note - March 12th, 1998 Date - 1998 Portuguese One Thousand Escudos Banknote - P#188c