5 Centavos Vila Nova De Famalicão

One of thousands of municipal cédulas issued across Portugal during the severe coin shortage that followed the First World War. The Tesouro Nacional had effectively stopped producing small-denomination coinage by 1917–1918, leaving câmaras municipais and other local bodies to fill the gap with paper fractional currency — a stopgap that persisted well into the early 1920s in some regions.

Litografia Nacional in Porto supplied cédulas to numerous northern municipalities during this period, using dry-seal authentication rather than a watermarked substrate. The dry seal was applied by the issuing câmara, making each note technically valid only within its own municipality.