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5 Centavos Chaves
| Issuer | Câmara Municipal de Chaves |
|---|---|
| Year | |
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| Composition | Paper |
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| Obverse description | The central vignette presents a caravel and an anchor flanking the Portuguese coat of arms, the entire composition framed by a decorative rope border with buoys. Denomination numerals appear twice at left and right, with the mayor's signature and series designation below the central device. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The left portion carries an allegorical female figure holding a sheaf of wheat and a hammer resting upon a cogwheel, with the Cross of the Order of Christ rising behind her, the whole enclosed within a knotted rope border. To the right stands Mercury, caduceus and boat in hand, with an armillary sphere at his back, symbolising his role as protector of travellers and merchants. Denomination inscriptions appear at left and right of the central composition. |
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| Comments |
The Câmara Municipal de Chaves issued emergency paper currency during the severe coin shortage that gripped Portugal in the early twentieth century — a problem so acute that dozens of municipalities were legally permitted to produce their own cédulas under a 1917 decree authorizing local chamber issues. Chaves, a small town in Trás-os-Montes near the Spanish border, was among them. These chamber notes were always intended as stopgap instruments, valid only within the issuing municipality and subject to redemption once the coin supply normalized.
The watermarked paper is the only security feature, which was typical of the more economically produced cédulas from smaller chambers with limited printing budgets.