My Encounter with the Brazilian Gold 20,000 Reis from Minas Gerais, 1727

I’ve always been captivated by coins that tell a story beyond their metal, and nothing exemplifies this more than the Brazilian gold 20,000 reis minted in Minas Gerais during Joao V’s reign in 1727. This hefty piece, weighing in at a solid 53.50 grams with a fineness of 0.9170, isn’t just a coin—it’s a relic of an era when gold flowed like rivers from Brazil to Europe, reshaping economies and empires. In this post, I’ll share my insights on its history, my hands-on experience with one, and practical tips for collectors diving into such treasures.

The Historical Backdrop: Gold Rush and Global Impact

Digging into the origins of this coin, I’m struck by how it emerged from the frenzied gold rush in Minas Gerais, Brazil, which kicked off in the 1690s. Gold was discovered in places like the Cuiaba River, leading to the founding of Ouro Preto—now a UNESCO site—and a staggering 800 metric tons of gold shipped to Portugal over the 18th century. This wealth didn’t just fill Portuguese coffers; it fueled Europe’s growth, flowing through Lisbon and on to nations like Spain, England, and France. Yet, it’s crucial to acknowledge the human cost: African slaves endured brutal conditions panning for gold in mosquito-infested fields, and conflicts with indigenous groups like the Payagua were common. This coin, with its denominations ranging from 2,000 to 20,000 reis minted between 1724 and 1727, was designed for high-value transactions, not everyday use, reflecting the sheer abundance of gold in the region.

My Personal Acquisition and Coin Details

My own journey with this coin began when I acquired it from a World-Wide Coins auction back in 1992. It was sold as a choice XF, but I’ve always felt that grading was conservative—nowadays, such pieces often fetch higher grades due to rising collector interest. Holding it, I’m mesmerized by the intricate details: the obverse features ‘IOANNES • V • D • G • PORT • ET • ALG • REX’ around a crowned Portuguese shield, with ‘20000’ and florets flanking it, while the reverse proudly displays ‘IN HOC SIGNO VINCES’ encircling a Portuguese cross with four M’s. Referenced as KM 117 or FR 3, it’s a piece that commands attention. I’ve kept it raw, stored in a poly-liner inside a paper 2×2 envelope to preserve its original luster—gold this pure rarely tones, but careful handling is key to avoiding scratches on its soft surface.

Grading and Preservation Tips

Based on my years of collecting, grading coins like this requires a keen eye. Many raw examples graded as EF or ‘Vorzüglich’ (splendid) often cross to MS-63 or MS-64 when slabbed by TPGs like NGC, mainly because they’re prone to bag marks. For this 20,000 reis, I’d lean toward MS-64 given its pristine surfaces and strong eye appeal. Here are some practical preservation tips I swear by:

• Store in acid-free holders like SAFLIPs to prevent environmental damage—never use PVC, as it can cause long-term harm.
• Handle with cotton gloves to avoid oils from skin, especially since gold is soft and easily marked.
• Consider slabbing for protection if you’re concerned about mishandling, but I resist it for raw coins to maintain their character; it’s a personal choice that depends on your collection goals.

Remember, eye appeal often trumps minor imperfections in high-value gold coins, so focus on coins with sharp strikes and minimal wear.

Market Observations and Collecting Advice

Watching the market, I’ve seen gold prices rise steadily, making pieces like this even more desirable. For instance, similar 20,000 reis coins have sold at auction for over $7,000, with quick profits possible—one collector I know turned a $2,000 gain in a year! If you’re building a collection, here’s my approach:

• Start with type coins if budgets are tight; a 6,400 reis ‘Half Joe’ is more affordable and shares historical ties to pirates and colonial America.
• Focus on quality over quantity—I prioritize eye appeal and condition, as pristine examples hold value better.
• Diversify into related areas like Brazilian colonial silver (e.g., 600 or 640 reis coins), but be prepared for healthy competition and prices.

Gold coins like this, often called ‘Dobras’ or ‘Joes,’ were counterparts to Spanish doubloons and remain popular for their size and story. With gold’s ongoing allure, now’s a great time to invest or trade.

Why Collecting Such Coins Resonates

For me, coins like the 20,000 reis aren’t just investments; they’re windows into history. Visiting Ouro Preto years ago deepened my appreciation for the mint where these were made, and I encourage every collector to explore such sites if possible. Despite challenges—like one collector’s heartbreaking loss of a South American collection—the joy of uncovering these pieces keeps us hooked. Whether you’re drawn to precious metals, numismatic rarities, or the thrill of the hunt, embracing coins with rich backstories adds depth to any collection. Keep chasing those treasures, and remember: in this hobby, every coin has a tale waiting to be told.