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NYINC Signature Sale 3106 17-18 Jan 2023
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Brazil
Pedro I 960 Reis 1825-R AU Details (Cleaned) NGC, KM368.1, LMB-506, Levy-Unl. Struck on a Minas Gerais countermarked 960 Reis. From a scarce date with a mintage of just 18,000 pieces, the present offering rises above in rarity. According to Levy, in his book "The 960 overstrikes"--the most complete study about 960 Reis and its hosts--the combination of an 1825-R overstrike on a Minas 960 Reis stamp is unheard of. To put into perspective, he lists 6-8 known for 1826-R specimens and a single 1824-R piece over Minas stamps. Dressed in an even gunmetal tone with lavender hues, this piece was likely cleaned decades ago and, despite the imperial 960 evenly-rendered, the elusive host is clearly discernible on both sides. A piece sure to entice advanced 960 Reis collectors.
The Minas Gerais 960 Reis stamp was struck for a few months in 1808, a way the Portuguese found to both regulate the Spanish 8 Reales that amply circulated in Brazil and make a profit on top of the intrinsic silver value. The Napoleonic invasions led Joao VI, then Prince Regent, to decide it was best to flee the country and re-stablish the Crown's reign from one of the colonies. In means of collecting funds to pay the expensive transfer of the Royal family from Portugal in that year, the 8 Reales-- which circulated in Brazil with a value of 720 Reis-- were overvalued to 960, leaving the 140 Reis on top of the silver value for the Crown. The undertaking was so successful that it was decided a new coin should be created: the beloved 960 Reis, struck primarily upon 8 Reales hosts.
https://coins.ha.com/itm/brazil/brazil-pedro-i-960-reis-1825-r-au-details-cleaned-ngc-/a/3106-33434.s?type=DA-DMC-CoinArchives-WorldCoins-3106-01172023
HID02906262019
© 2022 Heritage Auctions | All Rights Reserved
Pedro I 960 Reis 1825-R AU Details (Cleaned) NGC, KM368.1, LMB-506, Levy-Unl. Struck on a Minas Gerais countermarked 960 Reis. From a scarce date with a mintage of just 18,000 pieces, the present offering rises above in rarity. According to Levy, in his book "The 960 overstrikes"--the most complete study about 960 Reis and its hosts--the combination of an 1825-R overstrike on a Minas 960 Reis stamp is unheard of. To put into perspective, he lists 6-8 known for 1826-R specimens and a single 1824-R piece over Minas stamps. Dressed in an even gunmetal tone with lavender hues, this piece was likely cleaned decades ago and, despite the imperial 960 evenly-rendered, the elusive host is clearly discernible on both sides. A piece sure to entice advanced 960 Reis collectors.
The Minas Gerais 960 Reis stamp was struck for a few months in 1808, a way the Portuguese found to both regulate the Spanish 8 Reales that amply circulated in Brazil and make a profit on top of the intrinsic silver value. The Napoleonic invasions led Joao VI, then Prince Regent, to decide it was best to flee the country and re-stablish the Crown's reign from one of the colonies. In means of collecting funds to pay the expensive transfer of the Royal family from Portugal in that year, the 8 Reales-- which circulated in Brazil with a value of 720 Reis-- were overvalued to 960, leaving the 140 Reis on top of the silver value for the Crown. The undertaking was so successful that it was decided a new coin should be created: the beloved 960 Reis, struck primarily upon 8 Reales hosts.
https://coins.ha.com/itm/brazil/brazil-pedro-i-960-reis-1825-r-au-details-cleaned-ngc-/a/3106-33434.s?type=DA-DMC-CoinArchives-WorldCoins-3106-01172023
HID02906262019
© 2022 Heritage Auctions | All Rights Reserved