1. Historical Context

• The 4 centavos coin of 1917 was issued during the Portuguese First Republic, a period of great political instability (1910–1926).
• At that time, the country’s currency was the Escudo, with centavos as fractional units (4 centavos = 0.04 escudo).
• The coin was minted by the Casa da Moeda (National Mint, Lisbon).

2. Technical Characteristics and Design

Specifications:

• Material: Cupro-nickel (75% copper + 25% nickel).
• Weight: Approximately 7.0 g.
• Diameter: 25 mm.
• Thickness: About 2.1 mm.
• Edge: Smooth (plain, no reeding).
• Orientation: Medal alignment (“↑↑”).

Obverse (front):

• Inscription “REPUBLICA PORTUGUESA” around the rim.
• Center shows the denomination “4 CENTAVOS” and the year “1917”.
• Engraver: Francisco dos Santos.

Reverse (back):

• Features the effigy of the Republic (personification of liberty), facing left.
• Engraver: Domingos Alves do Rego.

3. Mintage and Circulation

• 1917 issuance had a mintage of 4,961,000 units.
• This is a relatively high number for a small denomination coin, so it is not extremely rare.
• However, some catalogs still consider the 1917 coin “very scarce”.
• The coin is demonetized and no longer legal tender.

4. Numismatic Value (Price)

Value depends on the coin’s condition (grade):

• Numista estimates:
  • Very Good (VG): ~ US$ 0.78
  • Extremely Fine (XF): ~ US$ 2.30
  • Almost Uncirculated (AU): ~ US$ 6.90
• CoinsCatalog.NET:
  • VF (Very Fine): US$ 1.00
  • XF: US$ 2.25
  • MS60: US$ 6.00
  • MS63: US$ 10.50
• Portuguese seller (Pronumis): in “Good” condition, around €3.50.
• Prices can vary depending on the seller, coin preservation, and patina.

5. Numismatic Significance

• Interesting for collectors of the Portuguese First Republic due to its historical context.
• While common in circulation, its limited mintage relative to modern coins makes it desirable for beginners or collectors of older circulating coins.
• Made of cupro-nickel, it has little intrinsic metal value, so its worth is primarily numismatic, not bullion.

6. Preservation and Collector Tips

• Coins in better condition (XF, AU) are more valuable. Look for coins with sharp relief and minimal corrosion.
• Natural patina can enhance value; avoid aggressive cleaning that may damage the coin.
• Store coins in protective capsules to prevent scratches and preserve detail.
• Verify authenticity; although cheap coins are less often counterfeited, buying from trusted sources is recommended.

7. Conclusion

The 4 centavos coin of 1917 is a historic and collectible piece, very accessible for collectors of the First Republic period. Despite a relatively high mintage, it holds interest, especially in higher grades. Its market value is modest, but for many collectors, historical and aesthetic significance outweighs the price.