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Kingdom of Portugal,
Maria II,
5000 Réis Gold Coin
葡萄牙王國
瑪麗亞二世
5000里爾金幣
Item number: A4691
Reference number: KM#475.2
Year: AD 1851
Material: Gold
Size: 22.0 x 22.0 mm
Weight: 8.96 g
Manufactured by: Casa da Moeda(Portuguese Mint)
Provenance: Fuchin Coin 2026
This is a gold coin with a face value of 5,000 réis, minted in AD 1851 during the reign of Queen Maria II of Portugal, using dies designed by the engraver William Wyon.
The obverse features a left-facing portrait of Queen Maria II wearing a pearl diadem, encircled by the Latin legend “· MARIA II · PORTUG: ET · ALGARB: REGINA · 1851”, meaning “Maria II, Queen of Portugal and the Algarves, 1851”. The reverse displays the coat of arms of the Kingdom of Portugal, enveloped by a royal mantle arranged as a crowned pavilion. Its elegant folds are suspended by cords terminating in tassels, with the denomination “5,000 réis” inscribed below.
Around AD 1260, the earlier monetary system derived from Muslim coinage was gradually replaced by the Carolingian system, based on the libra, soldo, and dinheiro. The first two served primarily as units of account, while the dinheiro, a billon coin, constituted the principal form of specie then in circulation.
As the libra was already widely used elsewhere in Europe, its adoption in Portugal facilitated the kingdom’s integration into international trade networks. At the same time, its convenient system of multiples and fractions made domestic transactions easier.
The earliest réis can be traced back to the fourteenth and early fifteenth centuries, when they already displayed traditional features of Portuguese national imagery—the five escutcheons and castles. These motifs, however, had not yet been systematically arranged within a clearly defined shield or ornamental panel.
During the reign of King Duarte I, the introduction of the French gold écu marked an important stage in the development of Portuguese coinage. Under King Afonso V, following the introduction of the 400-réis gold cruzado in AD 1457, the basic pattern of Portuguese coinage became more firmly established. Its obverse bore the crowned royal arms, surrounded by a border of castles, which were initially irregular in number and interspersed with fleurs-de-lis. Within the shield were five escutcheons arranged in a cross, with the two lateral escutcheons still placed horizontally, each bearing five bezants arranged in saltire.
Throughout the Iberian Union, the Portuguese monetary system was preserved in accordance with the decisions of the Cortes of Tomar, while the kingdom’s coinage retained its traditional characteristics, apart from the customary substitution of the monarch’s name on the obverse. This practice continued after the Restoration of the monarchy; from AD 1640 onwards, Portuguese coinage underwent no significant changes in type, nor was the monetary system substantially altered. Technologically, however, Prince Pedro abolished hand-hammered coinage and further advanced the development of mechanised minting.
In AD 1722, the growing influx of Brazilian gold into the mother country, together with the reforming and centralising ambitions of King João V, his foreign policy, and, to some extent, the broader international situation and cultural models prevailing in early eighteenth-century Europe, fostered a desire to reshape the state administration and enhance the country’s international standing, with the aim of bringing the kingdom into line with its European counterparts, particularly France. Monetary reform formed part of this broader programme. A new system of gold coinage was subsequently established, with the escudo, valued at 1,600 réis, serving as its basic unit, while the existing series based on 4,800 réis remained in circulation alongside it.
The upheavals of the early nineteenth century, particularly the first French invasion, the subsequent transfer of the royal court to Rio de Janeiro, and the victory of the Anglo-Portuguese forces, which effectively placed the kingdom under British protection, contributed to profound changes in the social, political, and geostrategic landscape of Europe and the colonial world. In monetary terms, one of the immediate consequences of the invasions and the disruption of relations with Brazil was a decline in the flow of gold into the kingdom. In AD 1815, the United Kingdom of Portugal, Brazil and the Algarves was proclaimed in Rio de Janeiro, increasing the mother country’s dependence on its former colony, which had now been elevated to the status of a kingdom.
On 24 April AD 1835, Portugal legally introduced an entirely new decimal monetary system. The old gold escudo system, which had been in use since AD 1722, was abolished in favour of a simpler method of reckoning. The reform reflected the international trend towards the Gold Standard and established a fixed monetary ratio between gold and silver.
In AD 1854, the kingdom became the first European country to follow Britain in adopting the Gold Standard. This transition not only brought it into closer alignment with its principal trading partner, but was also influenced by the lower cost of adopting gold rather than silver as the standard and by the already widespread circulation of gold coinage domestically.
Thereafter, social and political unrest in Brazil led to a decline in remittances, making it increasingly difficult for Portugal to maintain the Gold Standard. In AD 1891, gold convertibility was suspended, but it was restored in AD 1931. This restoration lasted for only 82 days, after which convertibility was once again suspended amid another international financial crisis.
The real (plural: réis) was a former unit of currency in Portugal. Following the Republican Revolution of AD 1910, it was replaced by the escudo in AD 1911 at an exchange rate of 1 escudo to 1,000 réis.
Iberian Union: In the latter half of the sixteenth century, King Sebastian of Portugal personally led a military expedition to Morocco, but disappeared following his defeat. The ensuing succession crisis ultimately brought the Portuguese Crown under the Spanish Habsburg dynasty, with the Spanish monarch also assuming the Portuguese throne and thereby establishing a personal union between the two kingdoms.
金幣正面為瑪麗亞二世女王面向左側的肖像,頭戴珍珠冠冕,外圍環繞拉丁文銘文:「· MARIA II · PORTUG: ET · ALGARB: REGINA · 1851」,意為「瑪麗亞二世,葡萄牙與阿爾加維女王,1851」。背面為葡萄牙王國國徽,外圍環繞王室披風,構成頂端加冠的華蓋式樣。披風形成優雅的垂褶,由末端飾有流蘇的繫繩懸掛,下方則標示面值「5,000里爾」。
Schmidt, Tracy L. editor, et al. Standard Catalog of World Coins, 1801-1900. 9th ed., Iola: Krause Publications, 2019.
Costa, Leonor Freire, Pedro Lains, and Susana Münch Miranda. An Economic History of Portugal, 1143–2010. Cambridge: Cambridge University Press, 2016.
Duarte, António Portugal, and Andrade, João Sousa. “How the Gold Standard Functioned in Portugal: An Analysis of Some Macroeconomic Aspects.” Applied Economics, Vol. 44, No. 5 (2012), pp. 617–629.
Kedrosky, Davis, and Palma, Nuno. “The Cross of Gold: Brazilian Treasure and the Decline of Portugal.” The Journal of Economic History, Vol. 85, No. 3 (2025), pp. 730–766.
Pastor, Mário Bruno. “O retrato e as representações ornamentais nas armas reais portuguesas em amoedações de ouro cunhadas entre 1722 e 1878.” Revista M, No. 0 (2017), pp. 80–111.
Forrer, Leonard. “Campos, Frederico Augusto de.” Biographical Dictionary of Medallists, Vol. VII, p. 148. London: Spink & Son, 1923. Digitised by Numista, 2026. Accessed 15 September 2026, https://forrer.numista.com/21635