Brazil's 1967 monetary reform introduced the cruzeiro novo, lopping three zeros off the old cruzeiro in an attempt to stabilize a currency ravaged by chronic inflation running above 40% annually. This 10 centavos type was part of that redenomination's new coinage program, though the reform ultimately failed to arrest inflation for long. A magnetic version of this type was later introduced, distinguishing the two by composition rather than any visible feature — the non-magnetic copper-nickel pieces predate that substitution and circulated alongside the transition to cheaper alloys.
Brazil's 1967 monetary reform introduced the cruzeiro novo, lopping three zeros off the old cruzeiro in an attempt to stabilize a currency ravaged by chronic inflation running above 40% annually. This 10 centavos type was part of that redenomination's new coinage program, though the reform ultimately failed to arrest inflation for long. A magnetic version of this type was later introduced, distinguishing the two by composition rather than any visible feature — the non-magnetic copper-nickel pieces predate that substitution and circulated alongside the transition to cheaper alloys.