1 Centavo Espinho

Issuer	Associação Comercial e Industrial de Espinho
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Composition	Paper
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Obverse description	Printed in green on plain paper, the obverse carries a central allegorical vignette of a seated female figure at left, rendered in letterpress, beside a coastal industrial scene with factory buildings and smokestacks beneath a radiant sky, with sailing vessels on the water to the right. The numeral "1" appears within circular cartouches at each corner. Series designation and serial number are printed in the lower right panel.
Obverse lettering	ASSOCIAÇÃO COMERCIAL E INDUSTRIAL DE ESPINHO 1 CENTAVO Série FR (Translation: Commercial and Industrial Association of Espinho 1 Centavo Series FR)
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Reverse lettering	ESPINHO A mais linda praia Portuguesa LITO. LUZITANA - V.N.GAIA (Translation: Espinho The most beautiful Portuguese beach LITO. LUZITANA - V.N.GAIA)
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