Lot 968
Brazil. Gold 20,000 Reis, 1725 (Minas Gerais). Fr-33; KM-117; Gomes-38.02. 53.62 grams. Joao V, 1706-1750. Crowned arms and value. Reverse: Cross of Jerusalem, M's in angles. NGC graded MS-62.
Of the two, Portugal and Spain, Portugal was the quickest in exploiting the commercial opportunities in her new lands. Increasing friction between these two maritime powers had already led to a Papal bull by Alexander VI, at Spain's instigation, delineating the non-competing zones of influence these countries would have over the non-Christian world. The issue was further formalized by the Treaty of Tordesillas in 1493. The Papal bull had given Spain the entire New World, but the new treaty had caused the line of demarcation to be moved further west of the Canary Islands, by about 370 leagues. Geographical knowledge of the area was still very scanty at the time, and so the debate remains whether the Portuguese were aware of South American lands awaiting their exploitation. In any event, Portugal had discovered (by accident?) and claimed Brazil by 1500, and continued further exploration at a rapid pace. By mid century, settlements were already established, and Brazil had been elevated to the status of a royal colony.
If the kings of Portugal felt at all short changed by the demarcation treaty, events would prove otherwise. In 1690 gold was discovered in the area that became known as Minas Gerais ("General Mines"). This would be followed by discoveries of precious gems. During the 18th century, this little pocket of land would produce a torrent of gold, diamonds, and emeralds for the kings of Portugal. The above 20,000 Reis was a short-lived denomination, lasting three brief years, and evocative of this gusher of wealth. While its employ and influence was mostly limited to the New World, it remained the largest regional gold coin issued and circulating in its time - weighing in at slightly over two Spanish 8 Escudos, with a pure gold weight of nearly 1.6 ounces.
Estimated Value $5,000 - 6,000.
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| Realized $13,225 |
