Watch List notes:

Brazil (Minas mint), 4000 reis, Joao V, 1725-MMMM, encapsulated NGC AU 55, tied for finest known in NGC census. Russo-241; KM-115. Extremely rare type from the dobrao series of the Minas Gerais mint, within which only a few of this date are known. This top specimen exhibits beautiful natural "cabinet" toning, darkening toward the rims over original luster, in our opinion at least a grade higher than stated. As usual, it seems a lack of comparable specimens has sparked conservativeness, as this is one of only two listed in the current NGC census of gradable specimens, both AU 55 and our coin visibly superior. Mintage of this denomination was suspended in 1727; when it resumed in 1749 it was at a lower weight of 8.07 grams. Pedigreed to the New England Collection.

Estimate: $15000 - 30000