1964 Bank of Portugal 20 Escudos Note - Santo Antonio Type - Green Underprint - 1964 Portuguese Twenty (Vinte) Escudos Banknote - P#167b

This listing is for the photographed 1964 Banco de Portugal 20 Escudos Bank Note. Issued on May 26th, 1964, in Lisbon, Portugal. Note was printed with a green underprint, differentiating it from other similar issues. The obverse of this note depicts a portrait of Saint Antonio of Padua on the right end. The reverse shows the Church of Santo Antonio de Lisboa at the left. 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#167b (Pick Number 167b).

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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1964 Bank of Portugal 20 Escudos Note - Santo Antonio Type - Green Underprint - 1964 Portuguese Twenty (Vinte) Escudos Banknote - P#167b