Brazil
João VI 960 Reis 1818-R AU Details (Surface Hairlines) NGC, Rio de Janeiro mint, KM326.1, Russo-P478. Well detailed with partial mint luster and the defects mentioned on the insert very mild. Struck over a Barcelona 5 Pesetas 1809, with the shield visible under the "960" denomination on the obverse, the "5" denomination of the undercoin clearly seen under the two top left castles of the shield on the reverse, the date faint but discernible under "SIGN" on the reverse and the "EL" letters from "BARCELONA" are also evident between "STAB" and "SUBQ" on the reverse. A very scarce undercoin for this series and quite desirable as such.
Estimate: 1000-1500 USD