Old portuguese escudos

Old Portuguese escudo coins, which circulated from 1911 to 2002, marking Portugal's economic and cultural history.

About this subject

The Portuguese escudo was the official currency of Portugal for 91 years, from 1911 until the adoption of the euro in 2002. It replaced the real at a rate of 1 escudo for 1000 réis. The first mintings, in the 1910s, bore the national coat of arms and allegorical figures, reflecting the republican spirit after the establishment of the Republic in 1910.

Over the decades, escudo coins went through several series, with materials varying from silver and bronze to cupro-nickel and aluminum. Notable denominations include 10, 20, and 50 centavos, as well as 1, 2.5, 5, 10, and 20 escudos. The reverses often honored navigators, writers, and monuments, such as the Belém Tower and the Padrão dos Descobrimentos.

Portuguese numismatics particularly values pieces from transitional periods, such as the 1916 coins with the effigy of the Republic, and colonial issues for Angola, Mozambique, and other territories. The last series, launched in 1998, featured elements of Lusitanian culture, such as the Rooster of Barcelos and the Portuguese guitar.

With the entry into the Eurozone, the escudo ceased to circulate, but it remains a subject of collection and study. It is estimated that over 6 billion coins were in circulation at the time of the exchange. Demonetization occurred on February 28, 2002, and since then the escudo exists only in collections and in the memory of the Portuguese.

Frequently Asked Questions

What was the value of the Portuguese escudo in relation to the euro?

The fixed exchange rate was 1 euro equal to 200.482 escudos. Escudo coins were exchangeable at the Bank of Portugal until February 28, 2022.

Which escudo coins are most valuable to collectors?

Rare coins include the 1916 silver 5 escudos, the 1920 10 escudos, and colonial issues in good condition. Value depends on preservation and demand.

What historical figures appear on escudo coins?

Some coins honor Prince Henry the Navigator, Luís de Camões, Fernando Pessoa, and explorers like Vasco da Gama. There are also coins with the effigy of the Republic.