The 1919 4 centavos coin is a representative piece from the Portuguese First Republic, issued during the monetary reorganization of the early 20th century when the escudo replaced the real as Portugal's official currency (1911). This coin circulated between 1917 and 1919, with the 1919 issue being one of the final variants of the series.
Technical Specifications
The 1919 issue has standardized features for low-denomination coins of that period:
- Face value: 4 centavos (equivalent to 0.04 escudo)
- Minting period: 1917‑1919
- Composition: Cupro-nickel (approximately 75% copper + 25% nickel)
- Weight: Around 7.0 g
- Diameter: 25 mm
- Thickness: Approximately 2.1 mm
- Edge: Smooth
- Mint: Imprensa Nacional – Casa da Moeda, Lisbon, Portugal
- Catalog references: KM# 566 in the Standard Catalog of World Coins and Gomes# R 04.02 in Portuguese catalogs.
The obverse displays the large numeric value (4 centavos) and the inscription REPUBLICA PORTUGUESA with the date. The reverse shows the allegorical head of the Republic facing left, in the neoclassical style typical of Portuguese coins of the era.
Historical Context
This coin was created under Law No. 679 of April 21, 1917, which reorganized part of Portugal’s monetary system during the First Republic. It aimed to meet the need for small-denomination circulating coins. Although formally demonetized by Decree-Law No. 9718 on May 23, 1924, production effectively ended in 1919.
The First Republic was a period of political and economic change in Portugal, marked by instability and frequent reforms. Issuing small denominations like the 4 centavos was an effort to stabilize and facilitate everyday transactions.
Mintage and Rarity
The 1919 mintage totaled approximately 10,067,000 coins, a relatively high number for a small-denomination coin of that era.
Despite the high mintage, the coin is not extremely common in collections today, mainly due to wear from circulation and the disposal of many units over decades. However, it is not considered highly rare in numismatic terms.
Numismatic Value
The market value of a 1919 4 centavos coin depends primarily on its condition (grade) and collector demand. Approximate price ranges are:
- Very Good (VG): €1.0–€1.5
- Fine to Very Fine (F / VF): €1.2–€2.3
- Extremely Fine (XF): around €2.9 (in international markets)
- About Uncirculated / Uncirculated (AU / UNC): slightly higher values.
Experienced numismatists value factors such as original luster, absence of deep scratches, and sharp detail — aspects that can make an otherwise common coin command higher prices in specialized collections.
Conclusion
The 1919 4 centavos coin is an interesting fragment of Portuguese monetary history, illustrating the early 20th-century transition to the escudo. Numismatically, it is accessible for beginner and intermediate collectors, with moderate prices mainly determined by the coin’s condition.
