On May 29-30 Heritage will present the Long Beach World Coin Signature Auction. With over 3200 lots from 115 different countries, this auction is guaranteed to satisfy a wide range of World Coin collectors.
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"We haven't had this wide range of coins since we started doing World Coin auctions at Heritage", says Warren Tucker, Director of Heritage World Coin Auctions. "If you asked me which country had the strongest selection I would have a hard time answering you", continues Cris Bierrenbach, Heritage's Director of International Sales, "but I can tell you that we have tremendous selections from Chile, Peru, Brazil, Spain, Mexico, Great Britain, Australia, Hong Kong, Russia and China, and I am sure I am forgetting a few others."
Included in this sale is a Great Brazilian Rarity:Pedro II 100 Reis 1844, KM452, toned XF, one of the greatest Brazilian rarities-finest of only three known.
From the founding of the first mint in the state of Bahia in 1694, Brazil has had three Monetary Systems. The first, which dates from 1695 to 1834, is the so-called "divisional" system. Each denomination was double in value of the previous denominations so the coins in circulation ranged from 20 to 640 Reis. In 1809, Brazil started striking the 960 Reis on the Hispanic 8 Reales, which had just begun circulating in Brazil when the Portuguese Crown was transferred to the Brazilian colony to escape the Napoleonic invasion.
Starting in 1834, Brazil, now an independent empire, attempted a new monetary system nicknamed the Cruzado (mainly due to inflation and the need for coins of higher values). With odd denominations of 100, 200, 400, 800, and 1200 Reis, this Cruzado system was rejected by the Brazilian population as they continued to use the older coins. Consequently, instead of increasing mintages, the Empire created a whole new monetary system that was established in 1849. With more "standard" denominations of 100, 200, 500, 1000, 2000 Reis, the new system was a quick success and remained in place until the Cruzeiro monetary reform in 1942.
While "failing" with the Cruzado system, the Brazilian empire created one of the rarest numismatic series in the wide collection of Brazilian coins. Only 42 date/denominations were issued under the Cruzado system, and most are scarce or rare.
The jewel of the Cruzado series is without a doubt the 1844 100 Reis (or the Tostao). The Krause Catalog lists it simply as "Rare". In fact, only three are known, the finest of which is a toned XF piece we are privileged to offer as a part of the 2008 May Heritage Long Beach Signature World Coin Auction. Estimated at $40,000 - $55,000, this amazing rarity promises to be the centerpiece of its new owner's collection.
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Posted 05/12/2008 6:33 pm
