Old portuguese escudos

Old Portuguese escudos, coins that circulated in Portugal from 1911 to 2002, carry history and national symbols.

About this subject

The Portuguese escudo was the official currency of Portugal for 91 years, from the establishment of the Republic in 1911 until the adoption of the euro in 2002. It replaced the real, which had been in use since the 15th century. Escudo coins came in denominations of 1, 5, 10, 20, 50 escudos and others, with designs that evolved over the decades. Early issues featured the allegory of the Republic or the Cross of the Order of Christ. By the 1960s, coins depicted maritime themes such as caravels and compass roses, honoring the Age of Discovery. Notable is the 50 escudos coin of 1991, commemorating 500 years of contact with Brazil, struck in cupronickel with a special finish. The coins were minted by the Imprensa Nacional-Casa da Moeda, and initially the escudo was pegged to the gold standard, but after 1914 suffered repeated devaluations. Inflation led to high-denomination coins like the bimetallic 200 escudos (1990). The escudo also existed in paper form, but coins are now collectible items, especially late issues such as commemoratives from 2001 and series dedicated to Portuguese historical regions. Collectors seek coins in mint condition, low mintage, or with striking errors, like the rare 50 centavos of 1916 that seldom appears at auction.

Frequently Asked Questions

When did the Portuguese escudo cease to circulate?

The escudo was replaced by the euro on January 1, 2002, with a coexistence period until February 28, 2002.

Which escudo coin is most valuable to collectors?

The 50 centavos coin of 1916 is one of the rarest, fetching thousands of euros at auction in good condition.

Can escudo coins still be exchanged for euros?

No, the Bank of Portugal stopped accepting escudo exchanges for euros on February 28, 2022, 20 years after the euro adoption.