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The 20 Centavos coins issued by the Portuguese Republic between 1913 and 1925 comprise three distinct systems, reflecting the monetary developments of the early Republican period. The first system includes the silver issues of 1913 and 1916, created under the Decree with force of Law of May 22, 1911 and Law 220 of July 30, 1911, later withdrawn by Decree‑Law 19871 of June 9, 1931. The second system, in cupronickel, covers the 1920 and 1921 issues, established by Law 990 of June 25, 1920 and withdrawn from circulation on May 1, 1929 under Ordinance 6102 of April 18, 1929. The third system, in bronze, includes the 1924 and 1925 issues, created by Decree 9718 of May 23, 1924 and withdrawn on July 1, 1949 according to Decree‑Law 37120 of October 27, 1948. Together, these three systems — silver, cupronickel and bronze — illustrate the evolution of Portuguese fractional coinage during the early twentieth century.
