History and Context
- The 1925 20 centavos coin belongs to the First Portuguese Republic (1910–1926), a period of political and economic instability.
- It was created by Decree No. 9718 of May 23, 1924.
- This coin continued to be issued until 1943, according to Decree-Law 32648, although coins dated 1925 were part of the initial minting.
- The coin was officially withdrawn from circulation on July 1, 1949, under Decree-Law No. 37120 of October 27, 1948.
Physical Characteristics
- Metal: Bronze (alloy of Cu 960 + Zn 40).
- Weight: approximately 5 grams.
- Diameter: 24 mm.
- Thickness: about 1.35 mm.
- Edge: reeded.
- Orientation: medal alignment (↑↑).
- Mint: Imprensa Nacional – Casa da Moeda, Lisbon.
Design
- Obverse: Shows the denomination “20 CENTAVOS” in the center, with the date “1925” below and the legend “REPUBLICA PORTUGUESA” around the edge.
- Reverse: Features the bust of “Republica” (the personification of the Republic), wearing a Phrygian cap and a laurel branch, facing left.
- Engravers: Notably, Alves do Rego worked on one of the sides.
- Rim Decoration: A smooth circle followed by a dashed pattern.
- Variants: Some coins show incomplete legends (“split dies”) or signs of wear (“worn dies”), making them collectible.
Mintage and Rarity
- In 1925, 10,580,000 coins were minted.
- Although this is a relatively high number, the coin is considered very scarce in some numismatic catalogs.
- According to Numista, 1925 coins are fairly common in collections, meaning they are not extremely rare, but coins in higher grades are sought after.
Numismatic Value
The value of a 1925 20 centavos coin depends greatly on its condition (“grade”). Approximate market estimates:
| Condition | Estimated Price* |
|---|---|
| Good (G) | ~€0.64 |
| Very Good (VG) | ~€0.78 |
| Fine (F) | ~€1.73 |
| Very Fine (VF) | ~€5.73 |
| Extra Fine (XF) | ~€19.03 |
| Uncirculated (UNC) | up to ~$22 depending on the lot |
*Prices are indicative and based on sales and collector catalogs (Numista, Foronum, World Coins Catalog). Actual prices vary depending on market, condition, demand, and authenticity.
Highlights for Collectors
- Die Variants: Coins with “split dies” or worn dies are particularly interesting for specialists.
- Condition Matters: Many coins circulated heavily; those in VF, XF, or “mint state” condition are more valuable.
- Authenticity: Verify weight, diameter, and metal when buying or selling.
- Historical Significance: Coins from the First Republic are valued for their historical and political context.
Conclusion
The 1925 20 centavos coin is a representative piece of 20th-century Portuguese numismatics. While not extremely rare, especially in lower grades, it holds appeal for collectors due to its history, die variations, and classic Republican design. Numismatic value ranges from a few euros to about €20 for well-preserved coins, making it accessible yet attractive for dedicated collectors.
