The Perpetual President: 1 Centavo (Brazil, 1967)-Article

Updated: Mar 28

This Brazilian banknote represents the 1st denomination of the Cruzeiro Novo Overprint (1967). Which was a provisional currency issued in 1967, as a temporary replacement for the 1st Cruzeiro. As rampant inflation had dramatically reduced their purchasing power. The notes of 1st Cruzeiro (Estampa 2, Series 1953) served as the basis for this temporary currency.


These notes can be identified by their special stamp. Which revalues the note to 1,000th of the note's original face value. On 14 May 1970, the notes were replaced by the 2nd Cruzeiro (Series 1970, First Family). Notably in 1970, the term "Novo" was dropped from "Cruzeiro Novo". Thus occasionally causing confusion amongst unaware collectors.


Observe

The observe depicts President Getúlio Vargas (1882-1954), the longest served President in Brazilian history. Getúlio Vargas serve Brazil's 14th and 17th president, from 1930 to 1945 and 1951 to 1954. Initially gaining power in the Revolution of 1930, despite losing the election. Then was briefly ousted from power in 1945. Followed by his election in 1950, which ended with his death in 1954.


The note's header reads (trans.) "Republic of United States of Brazil". The official name of the First Brazilian Republic (1889-1930). Directly below this header is a reference to the Brazilian "National Treasury", running along the top of the portrait. While below the portrait lists the note's (trans.) "Ten Cruzeiros Legal Value".


Which is reinforced by numerous number "10s", located throughout the note. Including it's borders and hidden amongst it's underprint. Although notably this is only relevant to the note's original face value. Toward the portrait's right is a stamp, which revalues the note to 1 Centavo or 0.01 Cruzeiro Novo. As before mentioned this is 1,000th of the note's original face value.


Other notable features of the note includes its dual serial numbers (058437), which run diagonal from each other. Opposite of the serial numbers are series indicator (Estampa 2A), representing British printer Thomas De La Rue, London. Additionally the signatures of the Central Bank President and Minister of Finance can be seen, flanking the lower portrait.


Another notable feature of this note are its thin borders. Cruzeiro notes of the 1st Edition, 2nd Print Valor Legal (1962) often have this miscut appearance. With inconsistent spacing between the observe borders. A common feature of 10 Cruzeiro notes of the era, is the lack of a right border.


Reverse

The reverse depicts the painting “Unidade Nacional”, an allegory for the Brazilian steel industry. Steel emerged as a vital sector of the Brazilian economy, during a boom spanning 1917-1930. Due to prolific mines in Minas Gerais state and and Portuguese investment. The painting depict a god-like figure wielding a lamp post. In the background are massive gears and smoking steel mills.


The note's header and footer are read as a pair. Together they translate to, the "Republic of United States of Brazil". Besides the header are a pair of small number "10"s, representing the note's previous face value. Six additional number "10"s can be seen flanking the main art, on decorative guilloché backings.


Unlike the observe the reverse border is broad and even. Some minor staining can be seen from excess ink. This small defect can be seen in other US Dollar inspired banknotes of the era. Such as the Mexican 1 Peso printed by the American Bank Note Company, from 1936 to 1970.

 

Additional Notes

  • This note's dimensions are 157 x 67 mm or 6.18 x 2.64 in, slightly wider than a US Dollar.

  • The preferable method to preserve this note are standard sized protective sleeves.

  • The Cruzeiro Novo ISO code was BRB, it used NCr$ as its official symbol.

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