Nyassa 1894-H 10 reis token

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from the Stack's Bowers 2019 NYINC sale, lot 43754
Mozambique SB119-43754r.jpg
This specimen was lot 43754 in Stack's Bowers NYINC sale (New York, January 2019), where it did not sell. The catalog description[1] noted,
"MOZAMBIQUE. 10 Reis Token, 1894-H. Heaton Mint. PCGS MS-64 BN Gold Shield. Issued by Niassa company while Mozambique was a colony of Portugal. Choice quality for this VERY RARE token, possessing a full strike and flashy luster over the iridescent toned surfaces. Only the second example to appear in archived auction records that span over 15 years. Founded in 1891, the Niassa Company was a royally chartered Portuguese company provided the right to manage the provinces of Cabo Delgado and Niassa, a territory which covered more than 60,000 square miles. Struggling to secure sufficient local funding however, the company received capital from English and French investors by 1893, moving its headquarters to London shortly thereafter. This funding infusion proved only temporary however as between 1897 and 1908, three financial groups exchanged control of the company in an attempt to make the venture work. Around 1904, contracts for local laborers to work in South African mines were first drawn up, creating the first lucrative source of income for the company. By 1914, a German banking consortium had acquired the majority stake in the company. Shortly thereafter, World War I broke out, and the company was ultimately confiscated by the British and awarded to an English financial group. On October 27, 1929, the Portuguese government refused to grant an extension to the charter, effectively abolishing the largely unsuccessful company after 35+ years of operation."
We see ten and twenty réis in the SCWC, along with silver 500 and 1000 réis that probably never got past the pattern stage.


Recorded mintage: 508,000.

Specification: copper.

Catalog reference: KM-Tn1.

Source:

  • 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.
  • Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
  • [1]Ponterio, Richard, Kyle Ponterio, Matt Orsini and Cris Chatigny, The January 2019 NYINC Sale: Ancient Coins, World Coins & Paper Money, Santa Ana, CA: Stack's Bowers LLC, 2018.

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