Lot 969
Brazil. 12,800 Reis, 1732-M (Mina Gerais). Fr-55; KM-139; Gomes-56.18. 28.64 grams. Joao V, 1706-1750. Laureate head right. Reverse: Crowned Italic arms. Matte to lustrous devices on very pristine fields, rich with cartwheel luster. Rare this choice. NGC graded MS-64.
The 12,800 Reis was an exact doubling of the standard gold coin of the realm, the 6400 Reis. The lighter coin was also known as the Peca, the Dobra, and the "Joe". Yet the 12,800 denomination was apparently a not well received issue. It only saw service under John V, from 1727 to 1733, with all mintages seemingly fairly modest to extremely rare. So, while these larger multiples did not find much favour in the international banking and commerce communities, they nevertheless provided a convenient means for absorbing the gold that was pouring forth from the province of Minas Gerais. (It is estimated that Brazil's gold production for the 18th century amounted to as much as two million pounds!) The larger denominations circulated extensively in the Western Hemisphere, and especially North America.
Estimated Value $5,000 - 6,000.
Illustrated in Money of the World, coin 152.
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| Realized $18,400 |
