1 Cruzeiro 150th Anniversary of Independence

Brazil's 150th independence anniversary in 1972 fell squarely within the military dictatorship that had governed the country since 1964, and the commemorative program was deliberately large-scale — the regime used the sesquicentennial as a vehicle for nationalist messaging under General Médici, the most repressive of the military presidents. This coin entered circulation alongside a broader medal and banknote program tied to that campaign.

The nickel composition was a practical choice; Brazil had phased out silver from circulation coinage years earlier as silver prices climbed.