Brazil 1756-R 3200 reis

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Eliasberg lot 1173
Brazil 1756R 3200 reis rev Eliasberg 1173.jpg
This type was struck in Rio 1755-73 and in Bahia 1752-77. Despite the longer run of dates, Bahia mint issues are much rarer than Rio mint product. This specimen was lot 1173 in the Eliasberg sale, where it sold for $4,140. The catalog description[1] noted,
"1756/5 3,200 reis. Rio mint. VF-30 (NGC). Laureated head of Jose I to right, legends and date around/crowned arms. Medium gold with deeper highlights, reverse shows scattered marks and light granularity. While neither KM nor Gomes mentions this overdate, a specimen of this variety was present in the Norweb collection. Described as 'cleaned fine,' it realized a stunning $4,180 on a $200-300 estimate. A very scarce issue. From the John H. Clapp Collection; Clapp estate to Louis E. Eliasberg, Sr., 1942."

The gold coinage of Brazil presents problems which have not been resolved to this author's satisfaction. The early series of "moedas provinciales" (1000, 2000 and 4000 réis struck 1714-27) were struck to the standard of 12,600 réis/troy oz. The later series of "moedas provinciales" (1000, 2000 and 4000 réis struck 1749-1822) were struck to the standard of 16,800 réis/troy oz, which seems a straightforward reduction of 25% of the value of the gold réis. However, simultaneous with the "moedas provinciales" were struck the "moedas luso-brasileiras" (800, 1600, 3200, 6400 and 12800 réis struck 1727-1822) to the standard of 15,120 réis/troy oz. This standard values the gold réis 20% lower than the 1714-27 standard and matched the standard used in Portugal itself (see the 4 escudos or peça, struck in Portugal 1722-1835, which matches the 6400 réis of Brazil). How did merchants of the time cope with multiple weight standards for the same currency?

Recorded mintage: unknown.

Specification: 7.17 g, .917 fine gold, .211 troy oz AGW, 26.5 mm diameter; this specimen: 7.15 grams, 25.30 mm diameter.

Catalog reference: KM 183.2, Fr-66, Gomes-52.02.

Source:

  • [1]Kraljevich, John, John Pack, Elizabeth O. Piper and Frank Van Valen, The Louis E. Eliasberg, Sr., Collection of World Gold Coins and Medals, Wolfboro, NH: American Numismatic Rarities, 2005.
  • Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 7th ed., Clifton, NJ: Coin and Currency Institute, 2003.
  • Krause, Chester L., and Colin R. Bruce II, Standard Catalog of World Coins: Spain, Portugal and the New World, Iola, WI: Krause Publications, 2002.
  • Pimentel, Alvaro Mendes, Catálogo de Moedas Brasileiras de 1643 a 1962, 9a Ed., Rio de Janeiro, 1962.
  • Alberto Gomes and Francisco Antonio Magro, Moedas Portuguesas e do Território Que Hoje é Portugal: Catálogo das Moedas Cunhadas para o Continentes e Ilhas Adjacentes, para os Territórios do Ultramar e Grão-Mestres Portugueses da Ordem de Malta, 6ª Edição, Lisbon: Associação Numismática de Portugal, 2013.

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