AI Appraisal Estimate

This is a 100 Escudos banknote from Mozambique, issued by the Banco Nacional Ultramarino. The note is dated March 27, 1961, and features a predominantly green color palette with intricate intaglio printing. The obverse displays a portrait of Aires de Ornelas, a notable Portuguese colonial figure, set within an oval frame. The serial number 'C56913107' is printed twice in black ink. The text 'BANCO NACIONAL ULTRAMARINO' and 'MOÇAMBIQUE CEM ESCUDOS' is clearly visible, along with the location 'LISBOA'. The note includes decorative guilloche patterns and a circular watermark area at the bottom. Regarding condition, it appears to be in Crisp Uncirculated (CU) or Gem Uncirculated state, as it is housed in a protective clear sleeve and shows no visible folds, creases, or circulation wear. The corners are sharp, and the paper remains bright white. This piece represents the colonial Portuguese currency era in Africa, showcasing high-quality banknote craftsmanship of the mid-20th century, including fine detail in the portraiture and security borders.

I have conducted a visual examination of the Mozambique 100 Escudos banknote, Pick #108, dated March 27, 1961. This note features the portrait of Aires de Ornelas and was issued during the Portuguese colonial administration. Based on the provided images, the note appears to be in Choice or Gem Uncirculated condition. The paper displays an exceptional degree of original crispness, the corners are sharp and perpendicular, and the margins appear perfectly centered with no evidence of handling or vertical/horizontal folds. The green intaglio inks remain vibrant, and the white fields show no signs of foxing or environmental staining. From a market perspective, this specific issue is relatively common in lower grades, but the premium for 'Crisp Uncirculated' specimens remains steady among collectors of Lusophone and colonial African currency. Recent auction results for P-108 in high grades typically range between $40 and $70 depending on the presence of third-party grading certifications (such as PMG or PCGS). The demand for Portuguese Overseas Province material is consistent, though not currently experiencing a speculative surge. While the note appears authentic based on the quality of the engraving and the correct serial number font for the Banco Nacional Ultramarino series, this assessment is limited by the digital nature of the inspection. A final determination of authenticity and grade would require an in-person examination to verify the presence of the watermark, test paper density, and ensure no 'washing' or 'pressing' has occurred to artificially enhance the appearance. Verification of the signature varieties would also be necessary for a definitive catalog profile.