357:, all foreign coinage was outlawed, with the intention that the new currencies should establish their own market values. The Chinese were suspicious of these paper patacas, being accustomed to using silver for barter, and so the paper patacas always circulated at a discount in relation to the silver dollar coins. These Macau banknotes also circulated in East Timor, but in 1912 they were supplemented by local Timor issues for the first time. While the pataca continued at a discount to the silver dollars that were used in silver standard countries such as China and Hong Kong, the
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In 1912, the Banco
Nacional Ultramarino introduced notes (dated 1910) in denominations of 1, 5, 10 and 20 patacas. 25 patacas notes from Macao also circulated. In 1940, notes of 5, 10 and 50 avos were introduced. Some of these notes were overprints of Macanese notes, as were the 5, 25 and 100 patacas
410:
at a rate of 5.5 escudos = 1 pataca (changed to 5 escudos = 1 pataca in 1949) and fractional coins denominated in avos (100 avos = 1 pataca) were issued for the first time. In 1951, minting of avo coins ceased, even though in 1952 a full set of pataca coinage, including coins denominated in avos and
303:
coins that circulated widely in the region at that time. In 1894, Macau and
Portuguese Timor constituted one single administrative entity, but in 1896 Portuguese Timor became autonomous from Macau. In those days there was no single currency in circulation in Macau and East Timor, and trade was
446:
365:, so the two currencies then floated apart. In 1935, when China and Hong Kong abandoned the silver standard, the pataca was pegged to the Portuguese escudo at a rate of 1 pataca = 5.5 escudos, making it equivalent to the British
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notes introduced in 1945. The same year, specific issues for Timor were introduced in denominations of 1, 5, 10, 20 and 25 patacas, followed by 20 avos in 1948.
392:
had been on the gold standard until the 1930s, and had risen in value against the pataca so that the pataca was now closer in value to 1 gulden rather than the
453:
In 1945, bronze 10 avos, nickel-bronze 20 avos and silver 50 avos coins were introduced. The sizes of these coins matched the
Portuguese 20 centavos and 1 and
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dominated by the silver dollar coins, not only of Mexico, but also of China, as well as the
British silver trade dollars that were minted for use in
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coins which were prolific in the wider region in the 19th century. These
Mexican dollar coins were in turn the lineal descendants of the Spanish
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but it broke parity with the silver dollars of south-east Asia and Latin
America following the great international silver devaluation of 1873.
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333:
also corresponded to a silver dollar. In 1901 in Macau, it was decided to create a purely local currency, and the authorities granted the
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425:, and Indonesian currency was introduced. When this territory was established as an independent state in 2002, the
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gulden rate that had prevailed around 1900. When the pataca was reintroduced in 1945, it was pegged to the
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exclusive rights to print legal tender banknotes. These pataca banknotes were launched in 1906 at a
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In 1942, during the Second World War, the pataca was replaced by
Japanese issues of the
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558:. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications.
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369:(since £1 was then equivalent to 110 escudos) and putting it officially at a 3d
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This infobox shows the latest status before this currency was rendered obsolete.
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between 1894 and 1958, except for the period 1942–1945, when the occupying
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in the year 1894, but only as a unit of account for the silver
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5, 10, 20, 50 avos, 1, 5, 10, 20, 25, 50, 100 patacas
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623:
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46:. Unsourced material may be challenged and removed.
377:unit, and at a 1s 4d discount in relation to the
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271:which had been introduced to the region by the
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529:Krause, Chester L.; Clifford Mishler (1991).
353:that was issued in that same year. As in the
8:
118:
773:Japanese government-issued Philippine peso
601:
587:
579:
423:Portuguese Timor was invaded by Indonesia
411:also a pataca coin, was issued in Macau.
106:Learn how and when to remove this message
418:at the rate of 1 pataca = 5.60 escudos.
414:In 1958, the pataca was replaced by the
890:1894 establishments in Portuguese Timor
467:escudos. Coins were issued until 1951.
239:was a monetary unit of account used in
536:(18th ed.). Krause Publications.
117:
554:Standard Catalog of World Paper Money
7:
433:was also descended from the Spanish
429:was made the official currency. The
44:adding citations to reliable sources
291:The pataca was first introduced in
14:
279:, and by the Spanish through the
259:which is still in use today, the
500:
486:
20:
712:Argentine peso moneda corriente
532:Standard Catalog of World Coins
31:needs additional citations for
895:1959 disestablishments in Asia
717:Argentine peso moneda nacional
1:
263:unit was based on the silver
373:discount in relation to the
361:was pegged to sterling in a
55:"Portuguese Timorese pataca"
911:
880:Modern obsolete currencies
793:Portuguese Timorese pataca
335:Banco Nacional Ultramarino
221:Banco Nacional Ultramarino
119:Portuguese Timorese pataca
753:Equatorial Guinean peseta
386:Netherlands Indies gulden
329:coin of the neighbouring
249:Netherlands Indies gulden
226:
125:
870:Currencies of East Timor
733:Chilean peso (1817–1960)
702:Argentine peso argentino
349:) — the same as the new
255:. As in the case of the
331:Netherlands East Indies
743:Cuban convertible peso
450:
363:gold exchange standard
247:forces introduced the
875:Economy of East Timor
551:Pick, Albert (1994).
448:
312:. In East Timor, the
40:improve this article
355:Straits Settlements
310:Straits Settlements
120:
763:Guinea-Bissau peso
707:Argentine peso ley
508:Numismatics portal
451:
341:value of 2s 4d (2
277:Portuguese Malacca
857:
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798:Puerto Rican peso
408:Portuguese escudo
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90:
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885:Portuguese Timor
738:Costa Rican peso
603:
596:
589:
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556:: General Issues
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293:Portuguese Macau
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860:
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853:
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827:Venezuelan peso
803:Salvadoran peso
788:Peruvian peseta
783:Paraguayan peso
778:Nicaraguan peso
758:Guatemalan peso
748:Ecuadorian peso
690:
671:Philippine peso
661:Macanese pataca
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577:
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516:Macanese pataca
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269:pieces of eight
257:Macanese pataca
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188:10, 20, 50 avos
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848:Maltese pataca
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813:Spanish peseta
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795:
790:
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755:
750:
745:
740:
735:
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727:Catalan peseta
724:
719:
714:
709:
704:
698:
696:
692:
691:
689:
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686:Uruguayan peso
683:
681:Sahrawi peseta
678:
668:
663:
658:
651:Dominican peso
648:
643:
641:Colombian peso
638:
633:
631:Argentine peso
627:
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575:External links
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379:Straits dollar
359:Straits dollar
351:Straits dollar
301:Mexican dollar
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281:Manila Galleon
265:Mexican dollar
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96:September 2013
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768:Honduran peso
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722:Bolivian peso
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143:Denominations
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57: –
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51:Find sources:
45:
41:
35:
34:
29:This article
27:
23:
18:
17:
820:
816:
808:Spanish peso
792:
674:
666:Mexican peso
654:
636:Chilean peso
613:
552:
530:
494:Money portal
474:
452:
420:
413:
388:at par. The
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236:
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215:Central bank
193:Demographics
102:
93:
83:
76:
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62:
50:
38:Please help
33:verification
30:
624:Circulating
534:: 1801–1991
864:Categories
646:Cuban peso
618:or similar
610:Currencies
543:0873411501
522:References
273:Portuguese
261:East Timor
133:Portuguese
66:newspapers
843:Peso sign
729:(pesseta)
471:Banknotes
431:US dollar
427:US dollar
421:In 1975,
375:Hong Kong
343:shillings
306:Hong Kong
177:Banknotes
836:See also
655:peso oro
480:See also
371:sterling
367:shilling
339:sterling
308:and the
275:through
251:and the
245:Japanese
208:Issuance
817:pesseta
695:Defunct
462:⁄
449:10 Avos
401:⁄
321:⁄
287:History
283:trade.
253:roepiah
198:User(s)
162:⁄
157:
149:Subunit
80:scholar
850:(coin)
821:pezeta
612:named
562:
540:
416:escudo
390:gulden
345:and 4
327:Gulden
237:pataca
137:
129:
82:
75:
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61:
53:
441:Coins
347:pence
185:Coins
87:JSTOR
73:books
675:piso
615:peso
560:ISBN
538:ISBN
295:and
235:The
59:news
171:avo
164:100
42:by
866::
819:,
381:.
823:)
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