Portugal Banco de Portugal 500 Escudos 17.11.1922 Pick 130sp Specimen Proof PMG Very Fine 30. This design is mired in scandal, as Alves Reis forged a work order to Waterlow & Sons to print additional 500 Escudos. After the deceit was discovered, there were lines to redeem extant examples as fear mounted that the Bank would exchange this type. Four hole punched cancellations are mentioned for accuracy on this otherwise handsome example. Rare in any grade, across all formats.

HID09801242017

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