V Réis - Luíz I

Portugal's copper réis coinage of the 1870s existed in a monetary system already under quiet siege — the country had adopted a bimetallic framework aligned with the Latin Monetary Union's principles without formally joining it, leaving the réis structurally awkward against the franc-based bloc. The five réis piece was the smallest practical unit in daily commerce, changing hands in markets and taverns where silver rarely reached.

The KM# 2.1 through 2.4 variants reflect sequential die modifications across the four-year run, distinguishable primarily by subtle changes to the date punches.