Old portuguese escudos

Old Portuguese escudo coins, in circulation from 1910 to 2002, reveal Portugal's economic and cultural evolution.

About this subject

The Portuguese escudo was the official currency of Portugal from the establishment of the Republic in 1910 until the adoption of the euro in 2002. It replaced the real, which had been in use since the 15th century. Escudo coins varied in design according to the political regimes: the First Republic, Salazar's Estado Novo, and the post‑1974 democratic period. Each series featured national symbols such as the armillary sphere, the coat of arms, and historical figures.

During the Estado Novo, for instance, coins of 1, 2.5, and 5 escudos bore the bust of Salazar or the Cross of the Order of Christ. After the Carnation Revolution, effigies were replaced by republican and cultural themes, such as the figure of the Republic or carnations. The last series, minted between 1997 and 2002, included bimetallic coins of 100 and 200 escudos.

Interestingly, the escudo was subdivided into 100 centavos, but the centavo coins were gradually withdrawn due to inflation. Older pieces, like the 2.5‑escudo coin (the "half pataco"), are now valuable collectibles. The switch to the euro in 2002 marked the end of nearly a century of numismatic history for Portugal.

Frequently Asked Questions

When was the Portuguese escudo introduced?

The escudo was introduced in 1910, right after the establishment of the Republic, replacing the real. It was legal tender until 2002, when it was replaced by the euro.

Which escudo coins are the rarest and most valuable?

The rarest coins include the 2.5 escudos of 1916 (half pataco) and the 1 escudo of 1920, with very low mintages. Specimens in uncirculated condition can be worth hundreds of euros.

What was the symbol for the Portuguese escudo?

The symbol was the cifrão $ overlaid on the letter S, often written as Esc. or $. On coins, amounts were indicated with $00 (e.g., 10$00).