Watch List notes:

BRAZIL. Brazil - Brazil. Ceara. Fantasy 480 Reis, ND (ca. mid 20th Century). Pedro II. EF Details--Cleaned; Countermark: AU Details.
KMX-62. Issued by decree of 3 October 1833, ceasing November 1834. "CEARA" within star shaped beaded border within star shaped indent, five-pointed star at center countermark. Applied to the obverse of an 1810-R Brazil 960 Reis of Joao, prince regent. The countermark is well applied with good definition of the details and is quite different from legitimate issues of this type. The surfaces exhibit signs of being cleaned long ago now lightly toned and attractive. An interesting novelty piece of an issue that shouldn't exist on silver pieces sure to add depth to the next collection of Brazil or countermarks that it enters.

According to the SCWC, these countermarks were only applied to copper coins to lower their denomination by half of their current face value. Supposedly a few silver coins bare genuine stamps and are considered to be trial pieces, but this is highly unlikely and unconfirmed by this cataloger. The application of this mark on a silver coin to lower its face value by half make little to no sense as the intrinsic value would have been more than its supposed face value and would have left the immediate vicinity.

Estimate: $125.00- $175.00