Collection - Coins and Notes - Diário de Notícias #24 20 Centavos

The Diário de Notícias cédulas were emergency fractional currency issued in cooperation with the Lisbon newspaper of the same name during Portugal's acute small-change shortage of the early 1920s — a period when coin hoarding and metal shortages had effectively stripped low denominations from everyday commerce. Casa da Moeda printed several of these collector-series reissues decades later, packaged with the newspaper as promotional inserts, which is what this piece almost certainly is rather than original circulating issue.

Distinguishing original 1920–1922 emergency cédulas from later facsimile printings requires close examination of paper stock and ink registration — the promotional reprints are common; genuine circulated originals considerably less so.