What is PTE currency
The Portuguese escudo was the currency of Portugal prior to the introduction of the euro on 1 January 1999 and the removal of the escudo from circulation on 28 February 2002. The escudo was subdivided into 100 centavos. The word escudo derives from the scutum shield.
Amounts in escudos were written as escudos $ centavos with the cifrão as the decimal separator (for example: 25$00 means 25.00$, 100$50 means 100.50$). Because of the conversion rate of 1,000 réis = 1$, three decimal places were initially used (1$ = 1$000).
PTE Coins
The mintage period for the various denominations of the gold escudo (worth 1.6 milréis or 1$600) introduced in 1722 was different: 1⁄2 escudo through 1821,[3] 2 escudos through 1789,[4] and 4 escudos through 1799.[5] The eight-escudo coin was only struck between 1722 and 1730.[6]
Between 1912 and 1916, silver 0$10, 0$20 and 0$50 and 1$00 coins were issued. Bronze 0$01 and 0$02 and cupro-nickel 0$04 coins were issued between 1917 and 1922.
In 1920, bronze 5 centavos and cupro-nickel 0$10 and 0$20 coins were introduced, followed, in 1924, by bronze 0$10 and 0$20 and aluminium-bronze 0$50 and 1$ coins. Aluminium bronze was replaced with cupro-nickel in 1927.
In 1932, silver coins were introduced for 2$50, 5$00 and 10$00. The 2$50 and 5$00 were minted until 1951, with the 10$00 minted until 1955 with a reduced silver content. In 1963, cupro-nickel 2$50 and 5$00 were introduced, followed by aluminium 0$10, bronze 0$20 and 0$50 and 1$ in 1969. Cupro-nickel 10$00 and 25$00 were introduced in 1971 and 1977, respectively. In 1986, a new coinage was introduced which circulated until replacement by the euro. It consisted of nickel-brass 1$00, 5$00 and 10$00, cupro-nickel 20$00 and 50$00, with bimetallic 100$00 and 200$00 introduced in 1989 and 1991.
Coins in circulation at the time of the changeover to the euro were:
1$00 (0.50 cent)
5$00 (2.49 cents)
10$00 (4.99 cents)
20$00 (9.98 cents)
50$00 (24.94 cents)
100$00 (49.88 cents)
200$00 (99.76 cents)
Coins ceased to be exchangeable for euros on December 31, 2002.
Another name for the 0$50 coin was coroa (crown). Long after the 0$50 coins disappeared, people still called the 2$50 coins cinco coroas (“five crowns”).
Also, people still referred to escudos at the time of the changeover in multiples of the older currency real (plural réis). Many people called the 2$50 coins dois e quinhentos (two and five-hundreds), referring to the correspondence 2$50 = 2500 réis. Tostão (plural tostões) is yet another multiple of real, with 1 tostão = 10 réis.
PTE Banknotes
The Casa da Moeda issued notes for 0$05, 0$10 and 0$20 between 1917 and 1925 whilst, between 1913 and 1922, the Banco de Portugal introduced notes for 0$50, 1$00, 2$50, 5$00, 10$00, 20$00, 50$00, 100$00, 500$00 and 1,000$00. 0$50 and 1$00 notes ceased production in 1920, followed by 2$50, 5$ and 10$ in 1925 and 1926. 5,000$ notes were introduced in 1942.
The last 20$00 and 50$00 notes were printed dated 1978 and 1980, respectively, with 100$00 notes being replaced by coins in 1989, the same year that the 10,000$00 note was introduced.
Banknotes in circulation at the time of the changeover to the euro were:
500$00 (€2.49)
1,000$00 (€4.99)
2,000$00 (€9.98)
5,000$00 (€24.94)
10,000$00 (€49.88)
The last series of escudo banknotes could be returned to the central bank Banco de Portugal and converted to euros until 28 February 2022.
Escudo banknotes celebrated notable figures from the history of Portugal. The final banknote series featured the Age of Discovery, with João de Barros, Pedro Álvares Cabral, Bartolomeu Dias, Vasco da Gama, and Henry the Navigator.
The last 100$00 banknote depicted Fernando Pessoa, the famous Portuguese writer and poet.