Watch List notes:

ANGOLA: João, regent, 1799-1816, white-metal ¼ macuta (6.70g), 1814, KM-44var, cf. Gomes-01.01, standard design of the normal copper quarter macuta of Angola, but struck in white-metal, Fine. This is some sort of contemporary imitation, distinguished from the regular copper issue as follows: The conjoined Æ at the end of the word GUINEÆ lacks the horizontal bar in the "A" part of the Æ ligature. Secondly, the numerals for 1 are reengraved with normal oblique serif over the horizonal serif at the top of each numeral 1. Thirdly, in the obverse legend, the dots between words and abbreviations are at irregular heights, whereas they are all evenly placed on the genuine coin. This example is well-worn, and thus was presumably in circulation for a considerable period of time.

Estimate: 100-200 USD