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| 正面描述 | Brown letterpress print on plain paper. The Portuguese coat of arms appears at upper centre, framed by the municipal council's name. Below, denomination and series designation are printed in a simple typographic layout. |
|---|---|
| 正面铭文 | CAMARA MUNICIPAL DE PEZO DE REGOA VALE 5 CENTAVOS SERIE - H DELIBERAÇÃO DE 8 DE JUNHO DE 1922 (Translation: Pezo de Regoa Municipal Council / Worth 5 Centavos / Series H / Deliberation of 8 June 1922) |
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Peso da Régua's municipal chamber issued small-denomination emergency notes — known in Portugal as cédulas — during the chronic coin shortage that plagued the country through the early 1920s. The central government's inability to keep fractional coinage in circulation pushed hundreds of municipalities, parishes, and private commercial houses to print their own substitutes, most with no formal authorization beyond local tolerance.
Régua's notes from this period are among the less frequently encountered municipal issues from the Douro region, partly because a wine-trading town of that size had relatively limited paper circulation volume. Survivorship is accordingly thin.