2017-06-13 Tue

A 1640 10 ducat "Portugaloser from Deventer was sold for $179,000 by Heritage Auctions, which was a record hammer price for a Gold Dutch Coin! This coin completed Portuguese coinage circulating in Brazil.

The Dutch minted coins to compete with Portuguese coins of Brazil as the Dutch were trying to establish their colonies there. The offered coin was considered as a medal as Deventer was not permitted to mint such coins in 1640. It was a record price for a Dutch coin considering both die work and metallurgical content.

There was a rumour that the 10 ducat-sized coins could be sold for 50 percent or more over their gold weight in Brazil. This was the incentive for businessmen to strike such coins where the Dutch had some foothold. The rumour was false and the central Dutch government asked a ban on the production of this coin. Also, it was very difficult in 1640 for someone to travel all the way from the Netherlands to Brazil for undertaking such a business. This led to the failure of the project and only a few dozen coins were struck. The offered coin was the only existing one in private hands. This extremely rare coin was certified as MS61.