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120 Réis - Luis I Countermark 'CROWNED G.P.' over 1 Real - Mexico Republic'

Issuer Azores
Year 1887
Type Standard circulation coin
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Obverse lettering G.P.
Reverse description Reverse of the Mexican host coin, a 1 Real piece dated 1821, featuring a radiant Phrygian cap (cap of liberty) at center emitting elongated rays across the field, with the denomination '1R' and date '1821' inscribed at the lower left, assayer initials and mint mark to the right, and a dotted border encircling the design.
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Additional information

Portugal's Atlantic island territories ran chronic small-change shortages throughout the nineteenth century, and the Azores addressed repeated gaps in circulation by countermarking foreign silver rather than waiting on Lisbon. Mexican republican reales — already widely circulated in Atlantic trade — were a natural target. The crowned G.P. punch (standing for Governo Português) officially revalued and legitimized these pieces for local use, a practice with roots in Portuguese colonial monetary policy going back several decades before this 1887 application.

KM#24.1 specifically denotes the Mexican host coin variant. The countermark placement varies considerably across surviving examples.

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