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| 正面铭文 | CAMARA MUNICIPAL DE VILA RIAL DE Stº ANTONIO VALE 1 Centavo (Translation: Town Hall of Vila Real de Santo António Worth 1 Centavo) |
| 背面描述 | Vignette of the historic main square of Vila Real de Santo António, rendered in the traditional calçada portuguesa (Portuguese cobblestone) pattern, with the Municipal Town Hall building as the focal architectural element. The reverse bears the authorisation inscription and approval date. |
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Vila Real de Santo António is one of the few Portuguese towns built entirely to a grid plan, laid out by the Marquis of Pombal's administration in 1774 in a matter of months. That administrative precision did not extend to its early twentieth-century finances. Municipal chambers across Portugal issued low-denomination cédulas during the 1920s to address a chronic shortage of small coinage — the national treasury simply could not keep fractional currency in circulation fast enough for local commerce.
This 1 centavo piece is among the smallest denominations produced by any Portuguese municipal issuer, worth so little by the inflationary standards of 1922 that its practical life was probably brief.