Brazil: Pernambuco. Geoctroyeede West-Indische Compagnie (GWC) gold Klippe 3 Guilders (Florins) 1645 MS63 NGC,...

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Elusive Dutch Colonial 3 Guilders

Pernambuco. Geoctroyeede West-Indische Compagnie (GWC) gold Klippe 3 Guilders (Florins) 1645 MS63 NGC, KM5.3, Fr-3, LMB-1. 1.89gm. A phenomenally well-struck and beautiful representative of one of Brazil's rarest and most significant coins, the sole example graded at the choice Mint State level by either NGC or PCGS; an immense offering thus, and of great importance within both the Brazilian and Dutch numismatic series.

The Dutch invaded the northeast coast of Brazil in 1630 with the intention of establishing a colonial presence in South America. For the first 2 years, the Dutch remained cornered in "Fort Orange" and under constant assault by the Portuguese. The GWC, a company created by the Dutch to "manage" their operations in Pernambuco, was considering abandoning Brazil altogether when in 1632 the Portuguese commander, Domingos Ferreira Calabar defected from the Portuguese army and joined the Dutch. With Calabar, the Dutch expanded their position north of Pernambuco, adding several important towns on their way; their troops consisted mostly of mercenary soldiers that had no other purpose for fighting than for money. Accordingly, it was imperative that the GWC maintained a steady supply of coinage with which to pay their men.

At this time, mostly Hispanic American and Portuguese coins circulated in Dutch Brazil. The Dutch brought their own money, the Guilder, which by the mid 1640's was extremely scarce and when the galleon "Zeeland" ported in the city of Recife, with gold from the Dutch post in Guinea, Africa, the GWC took a "share" of the precious metal. The company was in a desperate state, constantly cornered and under attack, and used the gold taken from the "Zeeland" to strike in September of 1645, three denominations, 3, 6 and 12 Guilders. There are no records of the exact numbers of coins that were struck in 1645 but scholars estimate between there were only 1,500 and 2,000 of each denomination. The important fact is that coins struck in Brazil were not legal tender in Holland and any coins coming back to Europe had to be exchanged for Dutch Guilders (and this is why the Brazilian issue was referred to as the Brazilian Ducat) and subsequently were melted. In the colony, any Portuguese or Brazilian found with a Dutch coin ran the risk of being considered a traitor and hanged. So, any coins staying behind in Brazil would have been melted after 1654 after the Dutch were finally ousted from South America.

Of great rarity thus and scarcely ever offered at auction let alone in this incredible grade; obviously produced with extreme care and consideration (very unusual for an emergency issue such as this), highly lustrous with a firm, direct strike to the center of the planchet resulting in complete non-doubled designs. An unbelievable survivor, fully deserving of a place within the finest Brazilian collection.

From the Santa Cruz Collection

Metal: Gold
Diameter: 14mm

More information about Brazilian Coins. See also: Brazil.

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