Brazil 1818-R 960 reis KM 326
This specimen is one of a type struck 1818-22 at the Rio mint. All known specimens are struck over various Latin American pesos, mostly Peruvian and Bolivian portrait dollars but many other types as well, including a few specimens struck on United States bust dollars (see the second specimen). The Bahia mint struck a smilar coin (KM 326.2). Coins struck 1823-28 bear the name of Pedro I, emperor of Brazil.The second specimen was lot 20514 in Heritage sale 3008 (New York, January 2010), where it sold for $13,800. The catalog description noted,
"Incredible 960 Reis struck on 1799 US Bust Dollar! João VI 960 Reis 1818-R, KM326.1, XF45 PCGS, toned. Incredible visibility of the host 1799 Dollar, including date, bust and legends. During the first decades of the 19th century, after the Portuguese crown was transferred to Brazil escaping the Napoleonic invasions, a great number of silver crowns, the vast majority of which Hispanic 8 Reales were restruck as Brazilian 960 Reis. The coins were initially purchased for 750 Reis and the crown made a nice profit of 210 Reis by restriking them. This was done in such extent that some South American crowns such as Chilean Volcano Pesos and Argentina Sunfaces became quite scarce. The restriking of the 960's during this time made for an incredible range of combination of dates, mint marks, die varieties and host coins and in the process made the Brazilian 960 Reis one of the most popular and collected coins in the Latin America. Arguably the most desired 960's restrikes are those on US Bust Dollars. There are only 4 known, though none of the other 3 have near the visibility this piece presents. It is arguably the most important 960 Reis restrike, the plate coin on the cover of David Levy's book, The 960 Reis Overstrikes. Ex-Ponterio & Associates sale #9, lot 10, where it realized $11,550 in June of 1998."
Recorded mintage: unknown but the type is common.
Specification: 27.07 g, .896 fine silver, .780 troy oz ASW.
Catalog reference: KM 326.1.
- Amato, Claudio, Irlei S. Neves and Arnaldo Russo, Livro das Moedas do Brasil, 12a ed. Sao Paulo, 2008.
- 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.
- Cuhaj, George S., and Thomas Michael, Standard Catalog of World Coins, 1801-1900, 7th ed., Iola, WI: Krause Publications, 2012.
- Pimentel, Alvaro Mendes, Catálogo de Moedas Brasileiras de 1643 a 1962, 9a Ed., Rio de Janeiro, 1962.
- Tucker, Warren, and Scott Cordry, Heritage Signature Auction 3008: World Coins, Dallas, TX: Heritage Auction Galleries, 2009.