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4 Centavos Penafiel
| Issuer | Câmara Municipal de Penafiel |
|---|---|
| Year | |
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| Composition | Paper |
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|---|---|
| Obverse lettering | Camara Municipal de Penafiel 4 Centavos (Translation: Penafiel City Council 4 cents) |
| Reverse description | Black letterpress print on beige paper enclosed within a decorative geometric border with foliate corner ornaments. A large central oval guilloche frame contains a faint watermark-like impression of a coat of arms, flanked by two circular medallions bearing the numeral '4' at left and the abbreviated denomination 'cent.os' at right. |
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| Comments |
Penafiel is a small municipality in northern Portugal, and its câmara municipal — the local administrative council — was among dozens of Portuguese local authorities that issued their own low-denomination emergency paper during the acute coin shortage of the early twentieth century. These cédulas, as they were known, filled the gap left by hoarded bronze and copper coinage, particularly in the years surrounding the First World War when metal of any kind disappeared from everyday commerce with remarkable speed.
Municipal issues at this denomination were rarely printed in large quantities, and many circulated until they were literally worn to illegibility before being withdrawn.