2 Reais Casa da Moeda do Brasil

Issued to mark the launch of the Plano Real in 1994, the stabilization program that finally broke Brazil's decades-long cycle of hyperinflation — at its worst, the country had seen annual inflation exceed 2,000%. The Casa da Moeda struck this piece as a commemorative from the outset; it was never intended for general circulation, which explains the survival rate in pristine condition.

KM#637 is straightforward to attribute, with no significant die varieties documented in the major references.