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1 Centavo Montemor-O-Novo

Issuer Associação Comercial de Montemor-O-Novo
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Value 1 Centavo (0.01 PTE)
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Obverse description Printed on red-toned paper, the obverse bears the issuer's name 'Associação Comercial de Montemor-O-Novo' in letterpress at the top, flanked by small ornamental rules. The denomination 'vale 1 cent.o' is set in large bold type at centre. A serial number prefixed 'N.o' appears at the bottom.
Obverse lettering Associação Comercial de MONTEMÓR-O-NOVO
vale 1 cent.o
N.o
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Comments

Associação Comercial de Montemor-O-Novo was one of dozens of Portuguese commercial and municipal associations that issued cédulas — emergency fractional paper — during the acute coin shortage that gripped Portugal from roughly 1917 onward. Silver and bronze coins vanished from circulation as hoarding accelerated, and local bodies stepped in where the Banco de Portugal would not. These square-format issues from Montemor-o-Novo are among the more unusual proportions in the cédula series; the 53×53mm format is genuinely square, a rarity in the broader local emergency issue corpus.

Validity depended entirely on the hand-applied stamp — without it, the note had no standing. Unstamped survivors exist and are worth considerably less.