1 Xerafim - João IV Goa mint

João IV's Goa mint operated under chronic silver supply pressure throughout the 1640s and into the 1650s, partly a consequence of the Estado da India's shrinking commercial dominance as the Dutch tightened their grip on spice trade routes. The xerafim denomination was the backbone of Portuguese monetary circulation on the Subcontinent, accepted across Goa's markets and used to settle accounts with local merchants who largely distrusted the copper coinage.

The 1650–1652 window for this issue coincides almost exactly with João IV's death in November 1656 — close enough that dies prepared during this period may have continued striking under the regency before official re-attribution.