Restoration of Portuguese Independence
The large number of clipped coins in circulation led to the implementation of legislative measures in order to restore credibility of the currency. In 1687 those who delivered clipped silver coins to the Mint received a receipt, which could be used as money by its holders. According to many authors, these receipts are considered to have been the first paper money issued in Portugal.
Coins ceased to be struck by hammering during the Regency of Dom Pedro. This method was replaced by the so-called balancé, a mechanical striking that was more precise and allowed better control of coin issuing.
