Brazil
João V 20000 Reis 1725-M XF45 NGC, Vila Rica (Minas Gerais) mint, KM117, Fr-33, Russo-249. A nice circulated example of this massive gold type. Because of the large weight, and great value at the time, these pieces circulated very little. It's quite unusual for one to appear that is evenly worn, but with no significant flaws (just more than normal circulation). This is a very nice example of the type without carrying the price of a higher graded piece.
Estimate: 4000-5000 USD