History of the money in Brazil 

  
   
1 - Brazil as Portuguese colony

1.2 First Mint House 1694-1749

In 1694, it is inaugurated, in Salvador, Bahia, the first Mint House in Brazil. Destined to remint the coins which was circulating or with brought ingots from Portugal, to manufacture provincial gold and silver coins. That Mint becomes itinerant to assist the neediest areas, or because the settlers feared the loss of their coins in the itinerary of the captaincies to Salvador. This way, the real foundry was transferred to Rio de Janeiro in 1699, moved to Pernambuco in 1700 and returned for stay in Rio de Janeiro in 1702, due the gold rush in the central area of the Colony.

The first coins for exclusive use of the Colony, between 1695 and 1698, were made of gold, in the values of 4,000, 2,000 and 1,000 Reis, denominated: "moeda" (coin), "meia moeda" (half coin) and "quarto de moeda" (quarter coin) or nicknamed "quartinho".

The Mint Houses of Bahia, Rio de Janeiro and Pernambuco also struck coins in silver of 640, 320, 160, 80, 40 and 20 Reis. The value 320 Reis, the "pataca", started to designate the series, which circulated since 1695 up to 1834. The pieces bring in the reverse the legend: SVBQ SIGN NATA STAB (Under this sign he was born and will stay). 

For the first time in Portuguese America a coin bring  a Brazilian mint mark. The coins minted in Pernambuco present in the reverse the letter P, regarding the place of the coinage. The silver coins of 40 and 20 Reis didn't bring the initial in reason of the small diameter.

From 1703 to 1707 were struck in Rio de Janeiro, gold coins of 4.000 and 2.000 Reis for circulation also in Portugal, in the reverse it is written: IN HOC SIGNO VINCES (with this sign you will win). 

Still with problems, to supply the shortage of small cash for the changes, the Mint of Porto supplied the Brazilian colony with copper coins originally destined to Angola.

During the long reign of D. Joao V (1706-1750), such was the growth of the auriferous exploration in Brazil that the Colony also started to mint coins of gold to the Kingdom. The coins obeyed two different monetary systems: the national or strong, for circulation in Portugal, and the provincial or weak, to circulate in the Colony. The Mint of Rio de Janeiro struck gold coins of the Portuguese national system with the legend JOANNES V D.G PORT. ET ALG. REX (D. Joao V by grace of God King of Portugal and Algarves). Some of the more beautiful pieces of gold, as the "Escudos" series, came from that House.

The famous "dobroes" series, accomplished by the Mint of Minas Gerais between 1724 and 1727 included one of the gold coins of higher weight that already circulated in the world: the facial value was of 20.000 Reis and it weighed 53.78 grams.

The "Escudos" series done starting from 1727 to circulate in Portugal, had large circulation also in Portuguese America. The real effigy of D. Joao V represented in the obverse, and the crown with coat of arms of the kingdom in the reverse. Those coins that popularized in Colony the expression were "heads or tails", already current in Portugal. The piece of 4,000 Reis won the popular name of "cruzadinho".

In the period from 1715 to 1729 were done in Lisbon, copper coinages destined exclusively to Brazil, with the inscription: PECUNIA TOTVM CIRCVMIT ORBEM (the money circulates all over the world). In 1722, the Portuguese government determined the coinage of coins of 40 and 20 Reis with the legend: AES VSIBVS APTIVS AVRO (the copper for use is superior to the gold), that only arrived eight years later to the Captaincy of Minas Gerais. In the year of 1729, in Bahia Mint House, had beginning the production of those coins in Brazil. The pieces presented the mint mark B relative the initial letter of that captaincy. The Mint of Lisbon, besides pieces of gold and silver, also coined copper coins to circulate in Maranhao (1749).

To be continued. Next "Brazil as Portuguese colony 1.3 - D. Jose up to D. Joao as Prince regent".

I hope to elucidate a little our friends and customers, and I count with your help to correct eventual mistakes.

Any question, I am all ways happy to help.

Francisco Partos
E&P Numismatica

Other Guides
You may be interested in viewing our other guides:

History of the money in Brazil 1.1

A sample of the fascinating Brazilian overstrikes world

Fancy, solid and others on Brazilian banknotes

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