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1 Centavo Chaves
| Issuer | Câmara Municipal de Chaves |
|---|---|
| Year | |
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| In circulation to | 7 December 1922 |
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|---|---|
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| Reverse description | The municipal coat of arms of Chaves occupies the centre of an otherwise plain field, executed in a simple typographic style consistent with the modest production standards typical of Portuguese wartime emergency local issues. The heraldic device is unadorned, without guilloche underprint or additional ornamental framing. |
| Reverse lettering | CAMARA MUNICIPAL DE CHAVES O Presidente da Camara 1 CENTAVO (Translation: Municipal Chamber of Chaves / The Mayor / 1 Cent) |
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| Comments |
The Câmara Municipal de Chaves issued this 1 centavo note as an emergency local currency — cédula — during the acute coin shortage that afflicted Portugal in the early years of the First Republic, a period when small-denomination metallic currency vanished from circulation almost entirely. Municipalities, commercial houses, and even private firms across the country resorted to their own paper scrip to keep trade moving at the counter level.
Chaves, a small garrison town in Trás-os-Montes close to the Spanish border, had particular reason to feel the shortage acutely given its active cross-border commerce. These municipal cédulas were authorized under legislation permitting local authorities to issue low-denomination notes as a temporary expedient.