Portugal. - 500 Escudos 1922 - Pick 130

Portugal 500 Escudos 17-11-1922 P130 Uncirculated Grade 64

Series 1S is documented as one of the printed series during the period when Waterlow & Sons was printing banknotes that were part of the same set from which Alves dos Reis's notes infiltrated.

,LIMITED, LONDRES

This detail is characteristic of the prints issued by Waterlow & Sons related to the batch involved in the Alves dos Reis scandal.

Canceled notes are rarer than regular ones because they were archived and kept in nearly perfect condition.

The 500 escudo notes, sheet 2, were involved in an unprecedented scam known as the 'Angola and Metropole case' or the 'Alves Reis case.' Based on forged contracts, Alves Reis introduced into Portugal hundreds of thousands of illegal notes of this type, some of which became known as 'shrimp.'