1 Centavo Mangualde

Mangualde is a small municipality in the Beira Alta region, and like dozens of Portuguese câmaras municipais in the early 1920s, it resorted to issuing its own low-denomination cédulas to address a chronic shortage of small change that the Banco de Portugal was simply failing to supply. The national coinage crisis had roots in wartime metal shortages and post-war economic dislocation — by 1920, the problem had become acute enough that local authorities across Portugal were legally authorized to issue emergency paper in fractional values.

The MA#1315a designation places this among the better-documented provincial Portuguese cédulas, though Mangualde issues in general survive in small numbers given the limited original print runs.