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Brazil (Rio mint), 6400 reis, Pedro I, 1827-R, extremely rare, encapsulated NGC AU 55, second finest
Currency:USD
Category:Coins & Paper Money / World Coins - Gold
Start Price:8,000.00 USD
Estimated At:8,000.00 - 12,000.00 USD
SOLD
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This item SOLD at 2012 Oct 25 @ 12:48UTC-4 : AST/EDT
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Brazil (Rio mint), 6400 reis, Pedro I, 1827-R, extremely rare, encapsulated NGC AU 55, second finest known graded by NGC. KM-370.1; Russo-634; Fr-109. . 14.3 grams. 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 (in addition to the unique 1830 and a small handful from Bahia) at a prescribed weight of 14.4 grams. This year (1827) was in fact the second-lowest mintage of the series (637 struck), and today only about 7-9 GENUINE specimens of it are known (fakes abound, which explains why even damaged coins are slabbed to prove authenticity). As this issue immediately followed the famous “coronation” 6400 reis of 1822, and was struck only in 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. That theory is supported by the fact that all known specimens are either high grade and undamaged (like this one), or damaged from being mounted and worn, as are more than half of the specimens known for this date. It is virtually certain they were not for general circulation.
The reign of Pedro I was brief but significant. After the Portuguese royal family was exiled to Brazil by the French in 1807, Pedro stayed behind as regent of Brazil when the family returned to Lisbon in 1821. The next year he declared independence for the Empire of Brazil. Throughout the 1820s Pedro was faced with unrest, both in Brazil and in Portugal, where he became King for a brief time in 1825 before control was placed with other family members. In 1831 Pedro abdicated the Brazilian throne in favor of his young son, Pedro II, in order to better handle the situation in Lisbon.
It should be noted that the present coin is one of only two listed in the current NGC census of gradable (and of course genuine) specimens, both deemed About Uncirculated (the finer specimen is AU 58). Our coin shows full original luster, with bold features and flashiness usually found only on prooflike coins. We feel that the AU designation for these coins is due to misinterpretation of slight flatness of strike on the obverse, as our coin clearly shows no wear. For pricing reference, we note that a specimen of this date, graded by PCGS as only “genuine, smoothed, EF details” and showing what we consider obvious scratches, nicks and cleaning, sold recently in Stacks-Bowers-Ponterio for $10,575. Ours is a much more magnificent coin, sure to appeal to world gold type-collectors and Brazilian specialists alike.
Auction Location:
P.O Box 1964, Winter Park, Florida, 32790, United States
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Taxes:
| Tax | Rate | Desc. |
| FST6 |
6% |
Florida Sales Tax |
| FSTH |
6.5% |
Florida Sales Tax |
| FST7 |
7% |
Florida Sales Tax |
| F75 |
7.5% |
Florida Sales Tax |
| F675 |
6.75% |
Florida Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
18% |
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Last update: March 9, 2012
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