Old portuguese escudos

The old Portuguese escudos represent the national currency of Portugal before the adoption of the euro, with a rich economic and cultural history.

About this subject

The Portuguese escudo was the official currency of Portugal from 1911 until 2002, when it was replaced by the euro. It was introduced after the establishment of the Portuguese Republic, replacing the real (réis) at a rate of 1 escudo = 1000 réis. The name "escudo" refers to the coat of arms of Portugal, which often appeared on the coins. Over nearly a century, the escudo underwent several monetary reforms, including devaluations and revaluations, especially after the Carnation Revolution in 1974. Banknotes and coins of the escudo depicted historical figures such as Prince Henry the Navigator, Pedro Álvares Cabral, and poet Florbela Espanca, along with national symbols like the armillary sphere. The coins ranged from centavos (cents) to higher denominations, with designs that changed over the decades. Interestingly, commemorative coin series were issued for events such as the 1998 World Exposition in Lisbon. Even today, escudos can be found in numismatic collections and some commercial establishments in Portugal, although they have not been legal tender since February 28, 2002. The legacy of the escudo remains in Portuguese collective memory and in collector's items that recount the country's economic history.

Frequently Asked Questions

When was the Portuguese escudo introduced?

The escudo was introduced in 1911, after the establishment of the Portuguese Republic, replacing the real (réis).

When did the escudo cease to be legal tender?

The escudo was replaced by the euro on January 1, 2002, and ceased to be legal tender on February 28, 2002.

Which historical figures appeared on escudo banknotes?

The banknotes depicted personalities such as Prince Henry the Navigator, Pedro Álvares Cabral, poet Florbela Espanca, and writer Eça de Queirós, among others.