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Brazilian 960 Reis: Struck Over A Colonial 8 Reales

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Archraz's Avatar
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 Posted 07/07/2009  7:46 pm Show Profile   Bookmark this topic Add Archraz to your friends list Get a Link to this Message Number of Subscribers
I just picked this 1810 960 Reis up today. I am normally not one to go for Brazilian coinage, but just look at the obverse and reverse. On the reverse in the middle of the globe you can clearly see a little over a quarter of the center of the coat of arms of Spain. The Castle is so clear due to the fact that the weakest part of the strike was typically the center. On the obverse you can see what looks like a scratch going through the shield. In reality this is the outline of the front of the bust. To the right of the 6 in "960" you can see the chin of the king of Spain.



Brazilian-960-Reis:-Struck-Over-A-Colonial-8-Reales


Brazilian-960-Reis:-Struck-Over-A-Colonial-8-Reales
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wcg's Avatar
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 Posted 07/07/2009  9:04 pm  Show Profile   Bookmark this reply Add wcg to your friends list Get a Link to this Reply
Fascinating piece. I rarely can picture the overstruck coin, but I definitely can see the evidence on that one. Congrats.
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echizento's Avatar
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 Posted 07/07/2009  9:44 pm  Show Profile   Bookmark this reply Add echizento to your friends list Get a Link to this Reply
Nice coin, most of these coins were overstruck on Spanish 8 Reales coins.
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Archraz's Avatar
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 Posted 07/07/2009  9:57 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
wcg- Thanks!

echizento- yep, that is true (and very cool), but usually the devices of the overstruck 8 are not this apparent. So this is a really interesting example.
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jfransch's Avatar
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 Posted 07/07/2009  10:13 pm  Show Profile   Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
Great coin Archraz!
I have a nice one where you can identify the host coin right down to the date and mintmark. I'll try and dig it out and post a photo. I really like these 960's struck over Spanish 8 reales and have found many of them over the years in my search for 8 reales for my collection. There is even a book about them "Os Recunhos de 960 reis" by Levy. Brazil skipped the planchet stage on a lot of these coins and just struck right over existing "dollar" coins. The book shows a 960 1818R struck over a US 1799/8 draped bust dollar. It was auctioned off in 1998 for $10,500. Great coin Archraz!
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Archraz's Avatar
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 Posted 07/07/2009  10:23 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
jfransch- thanks! That really is fascinating that these coins were just struck on any type of dollar coin that was on hand at this mint in Brazil. Please do post pics of your coin! You have me really curious.
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swamperbob's Avatar
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 Posted 07/11/2009  8:54 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
The use of Dollar sized coins as "planchets" was only part of the reason Brazil recoined silver dollars. The primary reason was to keep them circulating in Brazil. The restamped coin was worth 960 Reis while the intrinsic value of the 8R varied between 750 and 800 Reis. An increase of value of 20 to 28%. That made the new coins effectively TOKENS and also meant that exporting them out of Brazil cost the owner at least 20% of his value. Brazil, like the US had a silver shortage and this was an expedient to keep hard money in circulation in Brazil. There is no incentive to melt coins when they contain 20% less silver than their face value.

The US learned this lesson slowly. Every time silver prices increased old silver coins were taken out of circulation and they were melted for the raw silver. The same thing is happening now. To prevent wholesale melting of US 1 cent coins the government made it illegal to melt cents for copper. There was a point in time not long ago when the US cent contained over 2 cents worth of raw copper.

The Bank of England did the same thing with the 8Rs starting in 1804. The Bank recoined 8R to make them 5 shillings. With a face value HIGHER than the intrinsic silver value the coins stayed in circulation.

One of the fascinating parts of the 960 series for me is the hunt for Contemporary Counterfeit 8Rs restruck by Brazil using official dies. Some forgeries were so good that they fooled officials in Brazil and they were recoined. Another interesting area for me are the SSP issues (supposed for San Paulo) which are documented in Levy's book. These coins used real 8Rs but forged (or unauthorized Bihia dies) to make the coiners the 20% profit instead of the Government. Both types are scarce or rare.

In fact my rarest and most valuable counterfeit is a 960 struck over an 8R restamped in Guatemala using a contemporary counterfeit countermark. It is one of only two known in the world and it cost me $750 a few years ago.
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Archraz's Avatar
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 Posted 07/11/2009  8:58 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
swamperbob- Wow, very interesting stuff! Thanks for the input.
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swamperbob's Avatar
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 Posted 07/12/2009  10:01 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Archraz - Question - Do you know how to tell at which mint this coin was struck, even if there is NO trace of the mint mark as in this case? Many novices fail to realize that the central position of the MM and the weak strike pressre produced a series where a large percentage of coins lack the actual MM. But they can all be easily identified.


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Archraz's Avatar
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 Posted 07/12/2009  10:11 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
swamperbob- yes, I was aware of the B and R mint marks being in the center of the globe, but I must admit that since this is my first Brazilian 960, I have no idea from which mint this coin originates. Please do tell, Swamperbob.
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Archraz's Avatar
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 Posted 07/12/2009  11:36 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
I think that I may have figured out how to tell the mints apart. I was looking in my krause at the pics of KM#307.1 and KM#307.3 and thought for a moment "hmm...that was rather careless of them to insert the image of the reverse of KM#307.3 upside down." But then it hit me that the orientation of the obverse and the reverse must be different at the two mints. So at Bahia the "Stab. Subq." is on the reverse behind the crown on the obverse, whereas the 960s from Rio de Janeiro have "Sign. Nata." on the reverse just behind the crown.

So am I right, Swamperbob, or did the Krause team just make a mistake (as I first thought)?
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swamperbob's Avatar
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 Posted 07/13/2009  07:59 am  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Archraz - It is actually simpler than you think. If you look at the Globe side of the coin (which should be shown with the legend STAB SUBQ at the top) all you have to do is check the ends of the Portuguese Cross. Rio uses Trapezoids and Bahia uses Triangles. Some of the really odd or butchered shapes are counterfeits.

There is a third rare mint as well in 1810 - M (the Minas mint house) which operated 2 years only (1810 and 1816). They also used Trapezoids but chances of having an M mint are very slim.

On later dates you should also be able to tell by looking at the denomination. Bahia used a plain font for the 960 and Rio used a font with balls at the ends of the 9 and 6. In 1810 both were plain.

Axis of strike is not mentioned in the texts and how many were rotated is unknown to me. So orientation is not as far as I know a reliable method of determining the mint.

And for the record most of the SSP coins use the B mintmark. In 1814 the SSP's did use an R but the dies look like B types. The SSP is also responsible for the B/R over mint mark variety.

When dealing with the host varieties you really need to read Dave Levy's book. The 8R coins are most common by far but his book shows many other coins that were re-stamped. The US dollars are great but there is also a 2 Rupee from Madras,India, several Maria Theresa Thalers and coins from England, France, Italy, Netherlands and even some of the rare Spanish emergency issues. My favorites are of course the counterfeit hosts and those that were countermarked for use in the New World. So you should always check for undertypes. They can make a semi-common coin into a significant rarity.
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jfransch's Avatar
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 Posted 07/13/2009  10:42 am  Show Profile   Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
Thanks for the tip on the shape of the cross ends. Swamperbob, I learn new things from every post you make. Thank you. I have always found the host coins (and trying to identify them) the most interesting part of this coin series. What is the easiest tip off for a counterfeit host? (Other than weight) Edge is hard to determine since the 960's seem to have their on edge on the coin.
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 Posted 07/13/2009  2:29 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
jfransch - The identification of counterfeit hosts can be done using:
1. Traces of the underlying counterfeit coin in very rare cases.
2. Color (the normal method) at times the restrike will cause rapid concentrated wear on a small point of the host exposing a core of off metal.
3. Exposure of the fraud via test cuts or holes made many years ago.
4. Specific Gravity of the coin.

Unfortunately nearly every recoined counterfeit is going to be the CORRECT weight. It is my opinion that Brazilian officials used weight as their primary method of evaluation. An underweight or overweight counterfeit that was restruck as a 960R is not known to me. Dave Levy may know of some, but I do not.

You are correct in stating that the edges were redone by Brazil when they were re-coined. However, on some cases there is some of the original edge remaining. I have not found any instances where the edge alone could prove a restruck coin was a counterfeit.

Most of the restrikes on counterfeit hosts were previously identified and have been test cut. But when looking through a dealer's inventory I am always hunting for off metal or odd colors. Usually the off metal is exposed by wear, but in some cases it is surface discolorations seen on counterfeits that show even when the coin is re-stamped. The counterfeits made with white copper alloys in the early 1800s were plagued with streaks in the metal itself. Often showing up as dark streaks or swirls these imprefections in the alloy are often the only clue to a host being a fake until you check the SG.

I run SGs on all suspects when I get home. I do have a collection of real coins - residual coins that ended up being real when I got them home.

Exposing this particular fraud is far more of an ART learned over time than a strict science where you follow a check list for clues.

One other question to consider.

IS an officially re-issued 960R to be classified as a counterfeit if it was struck with real dies? Some of my friends consider them to be accidental off metal strikes and treat the coins as real - as if an incorrect planchet fell in a coining bin. Does anyone think I am being too much of a purist here or does anyone else consider a Contemporary Counterfeit being recoined more of a RARE host, falling in the category of a US Bust dollar?

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Archraz's Avatar
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 Posted 07/13/2009  6:15 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
swamperbob- Thanks for the info! Very fascinating info. I think that I am really going to pursue this series.

You mentioned that there have been auctions of these where the host coins have been US dollars, Indian 2 Rupees, & etc. Are there any websites that you know of that have pictures of such coins?

Also, I have looked for Dave Levy's book on Amazon, but nothing is to be found. Do you have any other information on this book, such as when it was published and possibly where copies can be found nowadays?
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swamperbob's Avatar
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 Posted 07/13/2009  7:08 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
The best place to see the overstrikes and to learn the true scarcity of the host coins is the Levy book. It was co-edited by a friend Dave Sunderland. His email is dsunderl@hotmail.com. He may have some copies left or know if Dave Levy has any left. Dave Levy is from Brazil and English is not his first language.

Make sure you tell him you know me. I don't think he would object to me plugging his book. It was published in 2002 in Brazil.

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