The two comments above, when taken together, make some sense to me. It seems the the differential wear of the king's bust image could be due to the style of die cutting.
When referring to Google Images 'gold 2 escudos', I see that preferential wear of the king's bust seems to be common.
A bit of theorizing: The image of the bust must have been cut in slightly higher relief than the lettering. There are many high points on the reverse of the same relief height above the field, and together, allow the wear on the reverse to be more even across the whole coin.
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