Portugal. Gold 4,000 Reis, 1703

Portugal. Gold 4,000 Reis, 1703 (image 1/2)
Portugal. Gold 4,000 Reis, 1703 (image 2/2)
Pricing & History
Portugal. Gold 4,000 Reis, 1703. Fr-76; KM-156; Almeida-2816. 10.67 grams. Pedro II, 1683-1706. Crowned arms, value in left field. Reverse: Voided cross, quatrefoil in each of the quarters. Choice, deep strike, with jumbo denticles for rims. Fully lustrous, the obverse wonderfully satiny. NGC graded MS-66. . In the last decade of the 17th century, tremendous gold deposits were found in southeastern Brazil. By the mid 18th century, production from these and other Brazilian gold fields was such that the annual yield was equal to all the gold mined in all the Spanish American colonies put together. In fact, the total gold production for Brazil during the 18th century is estimated at as much as two million pounds. The wealth of the Brazilian deposits propelled Portugal's standard gold coin, and its identical Brazilian counterpart, to the forefront of international commerce. Since the 1660s the primary gold denomination was the 4,000 Reis coin. Popularly known as "moidores," the name was actually a corruption of the Portuguese "moeda da ouro," or simply "money of ore." This coin was the same basic type as their old cruzado, but larger and heavier. After 1700 there was a great upswing in the minting of the moeda da ouro and it became the most commonly traded gold coin in the New World. In Europe, it competed on equal terms with the English read more
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