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5 Centavos Guimarães

Issuer Câmara Municipal de Guimarães
Year 1921
Type Local banknote
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Obverse lettering CAMARA MUNICIPAL GUIMARÃES VALE 5 CENTAVOS
(Translation: Guimarães City Council Worth 5 cents)
Reverse description Printed in red, the reverse presents a plain typographic layout consistent with the emergency municipal cédula format issued during the coin shortage period of the early First Portuguese Republic.
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Comments

Portuguese municipal chambers issued their own emergency paper money — cédulas — during the severe coin shortage that followed World War One. Guimarães was among dozens of municipalities that printed low-denomination notes between roughly 1917 and 1922 to keep local commerce moving when bronze and cupro-nickel coins simply disappeared from circulation, hoarded or melted.

By 1921 the cédula phenomenon was winding down as the national government pushed to reassert monetary control, making late-issue municipal notes like this one shorter-lived in circulation than earlier examples from the same series.

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