AZORES. Banco de Portugal. 50 Mil Reis Ouro, 1905-10 Issues. P-14. PMG Very Fine 25. A scarce issued example with "Pagavel nas Agencias nos Acores" overprinted on Portugal Pick 85. This note is also known as the Tobacco Pipe note for the back design which takes the shape of a tobacco pipe due to the watermark. This is the Banknote Book plate note. Stains mentioned by PMG for some spotting on the note but this is typical for the few known examples that also usually are found plagued with rust and edgewear. Only 1 example is graded finer by PMG of the mere four they have certified. From the Sao Miguel Collection.
