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Cruzado Calvario 'Pearly circle on rev.' - João III 2nd type, Lisboa

Issuer Casa da Moeda de Lisboa
Year 1538-1557
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Diameter 23 mm
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Obverse description Crowned Portuguese royal arms displayed at center of the field, comprising the quintas shield charged with five roundels arranged in quincunx, each bearing five pellets, set within a bordure of castles. The crown above the shield is ornate and clearly rendered in relief. A circular Latin legend surrounds the central device, reading the king's royal titles, with a beaded inner border separating the legend from the central shield. The flan is irregular, characteristic of hammered gold coinage of the period.
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Edge Plain
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Additional information

João III inherited a Portuguese empire at its territorial peak but faced chronic shortages of bullion as African and Asian trade routes grew expensive to maintain. The cruzado, introduced under Afonso V and named explicitly for the crusading cross motif, remained the backbone of Portuguese international trade payments well into the sixteenth century — accepted from Antwerp to Goa without significant discount.

The "pearly circle" reverse variety distinguishes this second Lisboa type within Gomes's classification, a die characteristic rather than a design revision, useful primarily for specialists separating the sequence of production across a reign that stretched nearly four decades.

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