Watch List notes:

Brazil (Rio mint), 6400 reis, Pedro I, 1828-R, extremely rare, encapsulated NGC AU 58, second finest known in NGC census. Russo-602; KM-370.1. A classic rarity of Brazilian numismatics, the Pedro I 6400 reis is an extremely rare issue, of which only a few hundred specimens were struck in any given year from 1823 to 1828. This year (1828) was in fact among the lowest mintage of the series (650 struck) and probably the second rarest date, in any case rarer by far than the lower-mintage 1827 (637 struck), according to Russo. Today only about five genuine specimens of the 1828 are known, and it bears the distinction of being the last date issued before Pedro left for Portugal in 1831 to put his daughter Maria II onto the throne during the civil war against his brother Miguel. As this 1823-1828 issue immediately followed the famous "coronation" 6400 reis of 1822, and was struck only in very small numbers with specially polished dies to create a prooflike image, it is conceivable that all the 6400 reis of Pedro I were intended as presentation pieces and not for general circulation. It should be noted that the present coin is one of only two listed in the current NGC census of gradable (and therefore genuine) specimens. With choice bold details and flashy mint luster that are usually only found on prooflike coins, the present specimen seems undergraded to us, and we believe the AU designation is due to misinterpretation of a slight flatness of strike on the high points on the obverse, as this coin clearly shows no wear. Pedigreed to the New England Collection.

Estimate: $20000 - 40000