Brazil
João V gold 400 Reis 1725-M AU Details (Bent) NGC, Vila Rica mint, KM118, Russo-230. Quite attractive with only scant high-point friction evidence, good underlying luster and a slightly bent flan defining the designation. An unusually well-preserved and above-average example of this very rare type, vastly desirable despite the noted defect and superior to the damaged XF ex. RLM specimen sold by us a few years ago (Heritage Auctions 4/2013, lot 23234, for $9,000).
Estimate: 6000-8000 USD