Collection - Coins and Notes - Diário de Notícias #75 5 Centavos Notgeld

Santa Casa da Misericórdia de Lisboa issued these small-denomination cédulas in 1917 as a direct response to the acute coin shortage that plagued Portugal during the First World War. Silver and bronze had largely vanished from circulation — hoarded or melted — and the state was slow to fill the gap. Charitable institutions, municipalities, and private firms stepped in with their own emergency scrip, a phenomenon that produced hundreds of distinct local issues across the country.

The Diário de Notícias connection places this note in a numbered collector series issued decades later — a reproduction set, not original wartime scrip. Worth distinguishing before attributing circulation history.