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1 Centavo Espinho
| Issuer | Associação Comercial e Industrial de Espinho |
|---|---|
| Year | |
| Type | Log in to see details |
| Value | 1 Centavo (0.01 PTE) |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | ASSOCIAÇÃO COMERCIAL E INDUSTRIAL DE ESPINHO 1 CENTAVO Série FR (Translation: Commercial and Industrial Association of Espinho 1 Centavo Series FR) |
| Reverse description | Log in to see details |
| 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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| Comments |
Espinho's Associação Comercial e Industrial was one of dozens of Portuguese trade associations forced into emergency note issue during the cédula crisis of 1918–1920, when a chronic shortage of low-denomination coins left commerce functionally paralyzed. These locally-backed scrip issues had no formal government guarantee; their acceptance depended entirely on the reputation of the issuing body within the immediate community.
Lito. Luzitana, operating out of Vila Nova de Gaia just across the Douro from Porto, handled a significant portion of the northern cédula print run during this period — a practical choice given distance and logistics rather than any official designation.