Portugal got into the paper money business in the 18th century.  Interestingly, there are a few early issues that are said to be moderately common.  That doesn't mean they actually turn up in the market though.  Portuguese numismatic material is active early in the third millennium.

PORTUGAL, 10,000 reis, P5, 1798, cherub & beehive, shepherd piping, repairs & validation stamps on back, fair $180.00 sold
    Almost all of these notes were inkstamped by the contenders in the 1828 war of succession.  This one didn't get stamped because it had gone to Brasil.  The repairs on the back are early 19th century, contemporary with the validation stamps.
Click picture for enlargement.

Bob Reis
POB 26303
Raleigh NC 27611USA
phone: (919) 787-0881
(8:30AM-10:30PM EST only please)
fax: (919) 787-1882
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