10 Centavos Figueira da Foz

Figueira da Foz was one of hundreds of Portuguese municipal chambers forced to issue their own emergency fractional notes after the First World War drained the country's small-denomination coinage into hoarding and melting. The Câmara Municipal series from this coastal town belongs to the broader cédula movement — a nationwide scramble by local authorities, businesses, and even charities to fill a gap the Banco de Portugal could not or would not address quickly enough.

These municipal cédulas were legal only within the issuing municipality, which kept circulation tightly local and redemption periods short. Many were never redeemed at all, quietly absorbed into the inflationary chaos of the early Republic.