4 Centavos

Vila Nova de Gaia issued emergency porcelain tokens in 1921 during a nationwide coin shortage that had been grinding through Portugal since the disruptions of World War I. The central government's inability to supply adequate small change pushed dozens of Portuguese municipalities and private entities to produce their own fiduciary tokens — cédulas and fichas in various materials including cardboard, brass, and in rare cases, glazed ceramic. Gaia's porcelain pieces were manufactured locally and intended strictly for circulation within municipal limits.

Porcelain municipal issues from this period are among the most fragile survivors of the Portuguese emergency money phenomenon.