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20 Centavos Casa da Moeda

Issuer Casa da Moeda de Portugal
Year 1922
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Size 100 × 65 mm
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Reverse description Central vignette shows a Portuguese caravel under full sail on open seas against a rising sun, evoking the Age of Discovery. At left stands an allegorical female figure of the Republic in classical robes, holding a shield bearing the Portuguese cross and a raised torch, with the national arms on a pedestal at lower left. At right, within a circular cartouche, two kneeling mariners are engaged in celestial navigation, the entire composition enclosed within a dense intaglio border with denomination numerals '20' in ornamental roundels at upper left and right corners.
Reverse lettering REPÚBLICA PORTUGUESA 20 20 VINTE CENTAVOS
(Translation: PORTUGUESE REPUBLIC 20 20 TWENTY CENTAVOS)
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Comments

Portugal's post-WWI austerity pushed the treasury into fractional paper — coin shortages were severe enough by the early 1920s that the Casa da Moeda began issuing low-denomination cédulas to fill the gap left by hoarded bronze and cupro-nickel. These 20 centavos pieces circulated alongside similar emergency issues from municipal authorities and other parastate bodies, creating a chaotic patchwork of small-change paper that the public tolerated but never trusted.

The engraving credit to Viçoso & Moratalla is the genuinely interesting detail here — a Spanish-Portuguese partnership working inside the Lisbon mint, unusual enough to suggest subcontracted plate work rather than in-house production.

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