The Banco de Portugal issued Portuguese Escudo banknotes in 9 different denominations, including this 500 Portuguese Escudos banknote (Francisco Sanches). They are part of the demonetized Portuguese Escudo banknotes series. The Banco de Portugal started issuing these 500 Portuguese Escudo banknotes in 1979. They were withdrawn from circulation in 1987.

The banknote of 500 escudos features Portuguese philosopher and phycician Francisco Sanches. On the back of the brown-orange colored Cuinhentos Escudos Ouro banknote is a 17th Century street scene in Braga.