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First Coinage of the Portuguese Republic

Portugal became a republic in 1910 with the toppling of the monarchy. Years of decline of the empire, and a perception that the monarchy had run it's course led to the formation of the republic. Curiously after the formation of the republic, no new coins were struck for several years afterwards, and then a new monetary unit was created, there being an Escudo valued at 100 Centavos. This new monetary system simplified matters of commerce, however there was still a coin shortage despite the mint's best efforts to strike as many coins as possible and subsequently the Banco de Portugal issued small change paper money to alleviate these shortages. Portugal's new coinage of the Republic of Portugal began with the issuance of the 50 Centavos of 1912, followed shortly thereafter with the issuance of a commemorative 1 Escudo dated 1910, but actually released in 1914.

One of the fascinating aspects of the new decimal coinage of Portugal is that the emblems on it draw on the past, but are also suggestive of the future for Portugal. The Shield and sextant are indicative of Portugal's pre-eminence as a nation of exploration, but the image of the girl on the higher denominations is apparently indicative as a reference to Portugal in the present and future. The designs of these lower denominated coins are simplistic in approach, but quite pleasing in their execution, not overwhelming the sensations whilst still pleasing.

Okay, I admit, this coin is one of my top 10 favourite coins. I like the stark, but dramatic feminine portrait on this coin. In many ways this representation of a young girl could be symbolic of the new Republic of Portugal, in the flower of her youth. I also like this unusual and rather large sized denomination, having a diametre of 25 millimetres. Unfortunately this was a rather shortlived coin, being struck in 1917 and 1919 only. But the design was popular and would survive to appear later in the mid 1920's on the new smaller sized bronze 5, 10, and 20 Centavos coins beginning in 1920 and lasting through 1940 with the 10 Centavos coin.

Beginning in 1920 Portugal decided on a more typical denomination for the coinage and shed the 4 Centavos coin in favour of a 5 Centavos coin in bronze, this coin was minted only a short time also, being minted from 1920-1922. The 1920 and 1922 coins are particularly scarce, and this shortlived series was replaced with the young girl design in a smaller size beginning in 1924.

Beginning in 1924 Portugal minted the 5 centavos in bronze, albeit in a smaller size, this series lasted through 1927.

For the silver denominations a different portrait was used, this being of a more mature young lady than on the lower denominations. The reverse of the piece has the Portuguese shield in a floral design. The larger denominations designs are a bit of a contrast to the lower denominations, having a bit more application to the design features of the coins.

But alas the economic downturn after WWI devalued the Escudo resulting in denominations which were previously silver having to be minted in copper nickel. The popular young girl design was used for the 10 Centavos coin.

From 1920-1922 Portugal minted the 20 centavos denomination in copper nickel, with a very high copper content, resulting in deep coppery toning for an unusual coin colour as the coins aged over time. This series was very shortlived and was replaced by a bronze coin in 1924.

Another pleasing coin, this 50 Centavos from 1916 is a lovely representation of a well designed coin. Sadly, this was yet another shortlived series and design, only being minted in 1912-1914 and 1916. This coin was replaced by an aluminium bronze coin in 1924.