This is a 1915 early Portuguese Republic 10 Centavos silver coin, graded MS62 by the authoritative NGC (Numismatic Guaranty Company), and currently in its original factory packaging. NGC MS62: NGC grading case, grade MS62 (uncirculated), indicating only slight signs of contact and good original luster. Obverse (Figure 1/2): A female portrait wearing a Liberty Cap, symbolizing liberty and republic. Surrounding it is the inscription "REPÚBLICA PORTUGUESA" (Republic of Portugal), with the year "1915" inscribed below. Reverse (Figure 3): The coat of arms of the Portuguese Republic (shield design), placed within a wreath symbolizing royal power, with "10 CENTAVOS" inscribed below. Material: Standard silver subsidiary coin (high silver content at the time), a typical early European republican period coin. Change of regime: In 1910, Portugal overthrew the monarchy and established a republic. This 1915 coin is a symbolic currency of the early republican era. Historical milestone: 1915 was during World War I (Portugal entered the war in 1916), a time of great turmoil in Europe, giving this set of coins a unique historical context.