Brazilian cruzeiro (1942–1967)

Since colonial times, the main currency in Brazil had been the real; first the same as the Portuguese currency, and a separate currency after the country's independence in 1822.

On 1 November 1942 the real was replaced by a new currency, the "cruzeiro", officially worth 1000 réis (mil réis, pronounced mirréis) — which had long been used informally as the currency unit for most retail trades. The old réis banknotes and coins remained in use for a while.[1] Some were overstamped with the amount in cruzeiros. New cruzeiro banknotes were printed starting in 1943.

20 mil réis banknote with a blue overstamp "20 cruzeiros" near the upper left corner.

By 1967 devaluation (inflation) of the cruzeiro had rendered prices unwieldy, so on 13 February 1967 the military government decreed its replacement by a new currency, the Cruzeiro novo (NCr$), at the rate of NCr$1 = ₢$1000.[2]

Six denominations of coins were introduced in 1942: 10, 20 and 50 centavos, and ₢$1, ₢$2 and ₢$5. The centavos were initially struck in cupronickel, switching to aluminium bronze in 1943, whilst the cruzeiros were struck in aluminium bronze from the start. The ₢$5 was not struck after 1943.

First issue of standard circulating coins of the Cruzeiro (1942–1967)

Reverse	Obverse	Value	Minting period	Obverse description
		₢$0.10	1942–1947	Portrays Getúlio Vargas
		₢$0.20	1942–1948
		₢$0.50	1942–1947
		₢$1	1942-1956	Portrays a relief map of Brazil
		₢$2
		₢$5	1942–1943

Following the end of the Vargas Era, in 1947 and 1948 replacements for the 10, 20 and 50 centavos coins were issued that did not portray Getúlio Vargas on the obverse. The new designs featured busts of proeminent Brazilian people, along with the new president, Dutra.

Second issue of standard circulating coins of the Cruzeiro (1942–1967)

Reverse	Obverse	Value	Minting period	Obverse description
		₢$0.10	1947–1955	Portrays José Bonifácio
		₢$0.20	1948–1956	Portrays Ruy Barbosa
		₢$0.50	1948–1956	Portrays Eurico Gaspar Dutra

A few more designs were later introduced in 1956 and 1957, which eventually made aluminium replace aluminium bronze in all the coins.

Third issue of standard circulating coins of the Cruzeiro (1942–1967)

Reverse	Obverse	Value	Minting period	Obverse description
		₢$0.50	1956	Portrays the coat of arms of Brazil
		₢$1
		₢$2
		₢$0.10	1956–1961
		₢$0.20
		₢$0.50	1957–1961
		₢$1
		₢$2

Coinage stopped production in 1961, restarting in 1965 with aluminium ₢$10 and ₢$20 coins, and cupronickel ₢$50 coins. In 1964, the "centavo" coins were withdrawn, and the other coins were withdrawn between 1967 and 1968.

Fourth issue of standard circulating coins of the Cruzeiro (1942–1967)

Reverse	Obverse	Value	Minting period	Obverse description
		₢$10	1965	Portrays a relief map of Brazil
		₢$20
		₢$50		Portrays the effigy of the Republic

The first banknotes were overprints on earlier mil réis notes, with denominations of ₢$5, ₢$10, ₢$20, ₢$50, ₢$100, ₢$200 and ₢$500. Regular issues of cruzeiro banknotes began in 1943 with the addition of ₢$1000 notes. ₢$1 and ₢$2 notes were introduced in 1944 and ceased production after 1958.

With the exception of the 1 cruzeiro banknote, issued only by American Bank Note Company, the other banknotes of this pattern were issued in second stamp by Thomas de la Rue, bear the words "2º estampa" with variations in the color of the obverse of the banknote, being the 5 cruzeiros banknotes issued until 1964 and the others issued until the entry into circulation of the cruzeiro novo.

The first banknotes of the standard were autographed, a custom that continued until the early 1950s, when signatures began to appear on microseals. The "Nota do Índio" and banknotes issued up to the end of the 1950s bear the words "No Tesouro Nacional se pagará ao portador a quantia de" with the value in full followed by the term "Valor recebido" at the end. Banknotes issued in the 1960s by the American Bank Note Company and Thomas de la Rue in amounts from 5 to 5000 cruzeiros appear only with the terms "Tesouro Nacional" and "Valor Legal" having the other aforementioned sayings suppressed.

• 
  ₢$1 note, featuring Joaquim Marques Lisboa
• 
  ₢$2 note, portraying Duque de Caxias
• 
  ₢$5 note, portraying Barão do Rio Branco

In 1961, the third stamp of the 5 cruzeiros banknote, called "Nota do Índio", would be released experimentally by the Casa da Moeda do Brasil. The very limited print run of this banknote issued in the years 1961 and 1962, as well as its low intrinsic value, made this banknote a true souvenir quite collected by numismatists.

A ₢$5 banknote issued in 1961 portraying indigenous people, a jangada and a vitória régia

In 1963, the ₢$5000 notes were introduced, followed by ₢$10000 notes in 1966, which would become the only banknote of the standard to be issued by the Central Bank of Brazil having the title "Banco Central" instead of the title "Tesouro Nacional" present in the other banknotes issued in this monetary standard. The last banknotes of this standard had an equivalence stamp affixed from 1967 onwards with the corresponding value of the banknote in Cruzeiros Novos, being used provisionally in the transition between the banknotes produced abroad to new centavo coins that began to be minted from 1967 and the banknotes that would be produced mainly by Casa da Moeda do Brasil from 1970.

₢$10 note, featuring Getúlio Vargas, with overstamp "1 centavo" or NCr$0.01 applied after 1967.

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