Portugal: Pedro II Counterstamped 500 Reis ND (1688) AU50 NGC, ...

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Pedro II Counterstamped 500 Reis ND (1688) AU50 NGC, KM438.1. Crowned 500 counterstamp (AU Standard) applied to a Portugal João IV 400 Reis (Cruzado) from the Lisbon mint (KM52). A true raison d'être for the insatiable numismatist, this spectacularly glossy survivor consists of an older hammered coin, whose legends were later re-struck/milled by the king, Pedro II. A visionary, Pedro modernized the minting process in Portugal by experimenting with cast planchets, different types of presses, and other minting techniques. What he did with the old Cruzados and 1/2 Cruzados of Alfonso VI (his brother) and Joao IV (his father) was an attempt to transform a hammered coin into a milled one, respecting each type by minting the new legends with the respective name of the king who first struck them. This is among the finest examples that we have handled in this fascinating series.

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