Brazil Gold 12,800 Reis (Johanna) 1729-M KM#139 PCGS MS61
| We Last Sold This Item For: | $8,500.00 |
|---|---|
| Last Sold On: | 12/1/2021 |
| # Sold In Past 12 Months: | 0 |
Brazil (Minas Gerais) Gold 12,800 Reis 1729-M
KM# 139
Weight: 28.68g
Obverse: Laureate bust of John V to right, legend and date around.
Reverse: Coat of arms
Grade: PCGS MS61
Solid detail both sides, a wonderful representation of Brazil's material wealth in the 18th century.
The laureate portrait of John V is to the right, his plump facial features, flowing locks and laurel wreath all combining to convey an impression of regal opulence.
It is seen as seldom in Australia today as it was in Sydney Town in the early 1800s.
The Portuguese first landed in what is now called Brazil in 1500 and, during the ensuing two centuries, discovered vast deposits of gold, much of which was shipped back to the homeland to fill the coffers of the aristocracy.
During this period, Brazil, in fact, produced more gold than all the Spanish colonies in Central and South America, including such well-known gold producers as Mexico, Peru and Bolivia. In the 1700's alone, the gold mined in Brazil was valued by a contemporary numismatist at £2 million sterling.
At this time, Brazilian gold coins were among the most widely used in the world, having an international profile similar to that of the current US dollar. The quantity of gold being produced in Brazil was so huge that in 1722 King John V of Portugal approved the issue of a new series of larger, heavier coins in Brazil to improve the speed at which the gold was coined. These coins, known as ‘Johannas’, circulated extensively throughout the world, particularly in North America, and also in the colony of New South Wales.
In New South Wales in 1800, the average worker earned five shillings a day (in addition to board) and, as we know, Governor King proclaimed the value of the Johanna to be £4. This means that these employees would have needed to work 16 days to earn the equivalent in value of one Johanna.
Even the most frugal Australian today will tell you that it is unheard of for them to save every last penny in their pay packet, let alone if they had a belly full of Bengal arrack and were surrounded by thieves, robbers and pickpockets!
It is highly likely that the only way the average free settler would ever have seen a gold Johanna would have been if they had stolen it from one of the more established colonists. Since these folk were generally armed officers in the New South Wales Corps, the chance of this happening would surely have been slim.
While we have suggested that the average worker would most likely never have seen a Johanna, this does not imply that these coins were not involved in the colony’s economy. In late 18th century London it had been pointed out that ‘Commerce was invoked as a universal instrument that offers itself to everyone, for the Improvement of his fortune’, while the glamour and wealth of the successful merchant provided an incentive to all men of ambition.
The most alluring fields for the speculator were the new settlements outside Europe (such as New South Wales), where there was a steady and growing demand for imported goods.
The dominant private activity in Botany Bay within a short time of its establishment was unmistakably commerce and, almost without exception, trade provided the necessary springboard. It was from this activity that Australia’s early entrepreneurs developed:
"During the first ten years in the colony, market conditions were so favourable that anyone, regardless of ability, with a command of capital was capable of producing a profit. Practically no degree of business acumen, except the most primitive level, was necessary to make a profit in such a monopolistic situation."
From this, we can see that the only thing the ambitious Sydneysider required was access to capital, either in coin or on account.
The Portuguese Johanna, as a solid and unquestioned form of international currency, easily qualified as a rare and highly desirable form of colonial capital.
This particular example has solid detail right across both sides - it does have a modest amount of friction on the high points, but all design elements remain clear.
Many of the large Brazilian gold coins from this era that remain inexpensive today have problems, such as a deep scratch or a rim bump.
This particular example has been rated by PCGS as being in mint-state quality - evidence of this can be seen in the lustre in the devices either side, as well as in the strength of the designs.
Click the PCGS icon below to verify the certificate details for this coin directly on the PCGS website.
PCGS Certificate Number: 39680494
SKU: 207535
Browse our catalog of Australia's Proclamation and Colonial Coins (1788 ~ 1826) below:
Others Also Bought
More From This Category
I've taken my coins to Andrew a few times. Him and his staff are very nice people. Andrew is honest and down to earth. 👍
I have purchased several bulk lots of world coins from Sterling & Currency over the last few years. Read more...
I live on East Coast but prefer dealing with Andrew on the West due to his integrity, knowledge and prices, Read more...
Just purchased a 1966 blue case decimal mint set. Andrew gave me a ring to ensure it had arrived and provided Read more...
.jpg)
The team at Sterling & Currency is a family affair – small but growing. Andrew Crellin is the main dealer in the business, click here to read this credentials and how he started with the Perth Mint; spent a decade in Sydney working with two leading dealers and relocated back to Perth in 2006.
Jo is our budding Numismatist, Chief Event officer, Photographer and Packing Extraordinaire. Natalie is our media creator and photographer. Nicole manages the accounts and is part of the Packing Team. A myriad of important duties are carried out by the team that include photography, website updates, office admin, and chocolate eating.
Ruby the Ridgeback quite frankly has learned nothing about coins, however contributes by barking at anyone wearing hi-viz.
We're Always Buying!
We need to buy tens of thousands of dollars worth of coins and notes each and every week of the year.
If you'd like to turn all or part of your collection into cash, get in touch with our expert staff and we'll be happy to start working on a deal with you.
Australian Gold Coins
We have extensive experience in handling all Australian gold soveriegns and halves, from the Adelaide Pounds of 1852 right through to the last coins of George V of 1931. All of the Australian gold coins in our online shop are described in detail with high resolution images.
Coins
At Sterling & Currency, we specialize in handling Australian coins dating from our nation's settlement in 1788 through to the introduction of decimal currency in 1966. We have an extensive range in our online store of Australian gold, copper and silver coins.
Decimal Coins
The Australian proof and UNC coins struck by the Perth Mint and the Royal Australian Mint are the most accessible coins available to collectors today. If you're not able to find a particular coin that you're keen to add to your collection, let us know and we'll be contact you when it becomes available.