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1 Centavo Espinho
| Issuer | Associação Comercial e Industrial de Espinho |
|---|---|
| Year | |
| Type | Local banknote |
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| Obverse description | Printed in green on plain paper, the obverse carries a central allegorical vignette of a seated female figure at left, rendered in letterpress, beside a coastal industrial scene with factory buildings and smokestacks beneath a radiant sky, with sailing vessels on the water to the right. The numeral "1" appears within circular cartouches at each corner. Series designation and serial number are printed in the lower right panel. |
|---|---|
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| Reverse lettering | ESPINHO A mais linda praia Portuguesa LITO. LUZITANA - V.N.GAIA (Translation: Espinho The most beautiful Portuguese beach LITO. LUZITANA - V.N.GAIA) |
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| Comments |
Espinho's Associação Comercial e Industrial was one of dozens of Portuguese trade associations forced into emergency note issue during the cédula crisis of 1918–1920, when a chronic shortage of low-denomination coins left commerce functionally paralyzed. These locally-backed scrip issues had no formal government guarantee; their acceptance depended entirely on the reputation of the issuing body within the immediate community.
Lito. Luzitana, operating out of Vila Nova de Gaia just across the Douro from Porto, handled a significant portion of the northern cédula print run during this period — a practical choice given distance and logistics rather than any official designation.