A 1822 Brazil Gold Coin sold for USD$499,375 by Heritage Auctions & Galleries Inc in the 42nd annual New York International Numismatic Convention. The event, running through Jan. 13 at the Waldorf Astoria Hotel, showcases an increasingly global market for the collectibles. In addition to a series of auctions, it includes 120 dealers hawking coins dating back to ancient Greece. The Brazilian 1822 gold coin depicting the country’s first Emperor, Pedro I. Six of the 10 bidders were from Brazil.
The Coronation Piece of Pedro I
Pedro I gold 6400 Reis 1822-R, KM361, Russo-592, AU55 NGC. Beautiful deep orange and magenta patina. In superb condition for the type. Provenance dates 105 years to the collection of legendary Brazilian numismatist Augusto Souza Lobo. In the 1940's it was part of Brazilian magnate Guilherme Guinle's collection and acquired by Dr. Monteiro in 1986. On his book, he quotes the piece as "the charming flower in the garden of Brazilian numismatic arts".
The 6400 Reis of 1822 was the first coin struck in independent Brazil, proclaiming its first Emperor, Pedro I of Brazil. On September 7th of that year on the banks of the Ipiranga river, in what is today the city of Sao Paulo, Pedro called for "Independence or Death". Pedro had received orders from his father to return to Lisbon and affirm his loyalty to the Portuguese Crown. Pedro defied his father's order and stayed.
On December 1st, Pedro was crowned Emperor at the Nossa Senhora do Monte Carmo Church in Rio de Janeiro. The design and execution show the brevity of time, Rio mint engraver Zeferino Ferrez had to complete this project, it shows the Royal crown on top of the national shield where it should feature the new Imperial crown. A total of 64 pieces were minted and offered to dignitaries on Coronation Day. Numismatist Claudio Schroeder accounts for 16 pieces in existence today. Seven are in museums in Brazil and Portugal, leaving nine specimens in private hands. Only two pieces exchanged hands in the last 27 years: the Norweb piece in 1997 that realized in excess of $80,000 and the Eliasberg specimen, a VF mount removed specimen that realized $69,000 in 2005. Heritage subsequently sold the Eliasberg piece for $138,000 in April of 2012.
Source: Heritage Auction
