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Lot
20173

Brazil: Joao VI gold Ingot of Goias 1821,...

2013 January 6-7 Ancient & World Coin Signature Auction - New York #3021

 
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Auction Ended On: Jan 6, 2013
Item Activity: 4 Internet/mail/phone bidders
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Location: Waldorf Astoria
301 Park Avenue
New York, NY 10022

Description:
A Rarely Offer Gold Ingot of Goias
Joao VI gold Ingot of Goias 1821, Prober #1821-G-587, 55.435 grams. Nearly full "Goias". Ingot #587. By mid 16th Century, the Portuguese were aware of the metal riches of it's newly found land. By the 1670's, powder gold circulated as currency in colonial Brazil and in order to regulate and tax gold extraction, foundries were established in Rio de Janeiro (1703), Bahia (1714) and Minas Gerais (1724). After taking a 20% cut (or "quinto"), gold would be melted and an ingot struck. With the accompanying certificate (or "guia"), it was monetized and put into circulation. 

The vast majority of Brazilian ingots were produced in the mining towns of Minas Gerais, such as Sabara and Vila Rica. Much less gold was found in the state of Goais, northwest of Minas and over 1500km inland. Prominent Brazilian numismatist Kurt Prober, in his relentless research of the Brazilian Ingots, recognized the assayer as Ignacio Joao de Bulhoes - IJB and traces its provenance to the important collection of the Brazilian magnate Guilherme Guinle (who controlled the ports in Rio and built the Copacabana Palace Hotel) and in 1941 gave Prober a photo of this Ingot. Further, it was on display at the historic Sao Paulo Numismatic Congress of 1936.

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