1996 Bank of Portugal 2000 Escudos Note - Feb 1st, 1996 Date - 1996 Portuguese Two Thousand/ Dos Mil Escudos Banknote - P#189b

This listing is for the photographed 1996 Banco de Portugal 2000 Escudos Bank Note. Issued on February 1st, 1996, in Lisbon, Portugal. The obverse of this note depicts a portrait of Bartholomeu Dias on the right end, a cruzado coin of Dom Joao II at the upper center, and a sailing instrument underprinted at the lower center. The reverse shows an old sailing ship at the center right and a compass and map at the center. Extremely Fine (XF) great/condition, minor signs of circulation, crisp note! Great piece of history and an excellent addition to any collection. P#189b (Pick Number 189b).

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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1996 Bank of Portugal 2000 Escudos Note - Feb 1st, 1996 Date - 1996 Portuguese Two Thousand/ Dos Mil Escudos Banknote - P#189b