Watch List notes:

MOZAMBIQUE. 10 Reis Token, 1894-H. Heaton Mint. PCGS MS-64 BN Gold Shield.
KM-Tn1. Issued by Niassa company while Mozambique was a colony of Portugal. Choice quality for this VERY RARE token, possessing a full strike and flashy luster over the iridescent toned surfaces. Only the second example to appear in archived auction records that span over 15 years.

Founded in 1891, the Niassa Company was a royally chartered Portuguese company provided the right to manage the provinces of Cabo Delgado and Niassa, a territory which covered more than 60,000 square miles. Struggling to secure sufficient local funding however, the company received capital from English and French investors by 1893, moving its headquarters to London shortly thereafter. This funding infusion proved only temporary however as between 1897 and 1908, three financial groups exchanged control of the company in an attempt to make the venture work. Around 1904, contracts for local laborers to work in South African mines were first drawn up, creating the first lucrative source of income for the company. By 1914, a German banking consortium had acquired the majority stake in the company. Shortly thereafter, World War I broke out, and the company was ultimately confiscated by the British and awarded to an English financial group. On October 27, 1929, the Portuguese government refused to grant an extension to the charter, effectively abolishing the largely unsuccessful company after 35+ years of operation.

Estimate: $500.00- $1000.00