Brazil: Pedro I 960 Reis 1827-R AU Details (Cleaned) NGC,...
Description
Pedro I 960 Reis 1827-R AU Details (Cleaned) NGC, Rio de Janeiro mint, KM368.1, LMB-508a. Overstruck on a Minas Gerais counterstamped 960 Reis ND (1808), originally struck over an earlier 8 Reales. One of the key dates from the Rio de Janeiro mint, where this coin was firmly struck, in the process suppressing most of the details from the earlier type, though portions of the Minas Gerais counterstamp remain strong.The Minas Gerais 960 Reis stamp was struck for a few months in 1808, a way the Portuguese found to both regulate the Spanish 8 Reales that amply circulated in Brazil and make a profit on top of the intrinsic silver value. The Napoleonic invasions led Joao VI, then Prince Regent, to decide it was best to flee the country and reestablish the Crown's reign from one of the colonies. For the purpose of collecting funds to pay the expensive transfer of the Royal family from Portugal in that year, the 8 Reales--which circulated in Brazil with a value of 720 Reis--were overvalued to 960, leaving the 140 Reis on top of the silver value for the Crown. The undertaking was so successful that it was decided a new coin should be created: the beloved 960 Reis, struck primarily upon 8 Reales hosts.
Ex. Sotheby's (November 1987, Lot 449)
From the Grundy Collection of Latin American and Spanish Coins
Metal: Silver
Diameter: 38.25mm
More information about Brazilian Coins. See also: Brazil World Coin Nationality.
Estimate: $2,000 - $3,000.
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Signature® Floor Session - The Grundy Collection of Latin American and Spanish Coins (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
(Lots 32001-32197) - 4:00 PM Central Time, Tuesday, September 1, 2026.
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Heritage Auctions - Dallas
2801 W. Airport Freeway
Dallas, TX 75261
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