Watch List notes:

Madeira (late 19th Century-early 20th Century), Samuel John Dreff and Co., 40 Reis token, uniface, 29.5mm., 9.28g, sjd&co. / r 40 in cursive script (Barradas 216), extremely fine with traces of lustre in recesses, extremely rare.
notes

See Agostinho Barradas 'Catalogo das Fichas da Mareira' in Publicacoes da Sociedade Portuguesa de Numismatica XLIV (1955), in which he attributes a 100, 80 and 40 Reis token series to a Samuel John Dreff (possibly Dress) & Co.
Estimate: £60.00 - £80.00