1. Historical Context

The 100 Cruzeiros coin from 1992 belongs to the period of the third Cruzeiro (denoted “BRE”), which circulated from 1990 to 1993. This period was marked by high economic instability and inflation, just before the transition to the Cruzeiro Real and later the Real in 1994.

The Brazilian Mint issued these coins to meet the demand for smaller denominations amid high inflation.

2. Physical Characteristics and Design

2.1 Material and Dimensions

• Composition: stainless steel
• Weight: approximately 2.39 g
• Diameter: 18 mm
• Edge: smooth

2.2 Obverse and Reverse

• Obverse: features a manatee, highlighting Brazil’s native fauna.
• Reverse: shows the denomination “100”, the word “Cruzeiros”, the year “1992”, and the inscription “BRASIL”.
• Some coins also include the label “PEIXE-BOI” on the obverse.

2.3 Mintage

• 1992: 500 million coins
• 1993: smaller issue, around 70 million

3. Symbolic Importance

The manatee is not just decorative; it symbolizes Brazil’s unique biodiversity. The coin reflects both the natural heritage and the economic challenges of early 1990s Brazil, preceding the currency reforms that introduced the Real.

4. Numismatic Value

4.1 Market Value

• According to the World Coins Catalog, this coin ranges from US$0.42 to US$1.01, depending on condition.
• On Foronum, the 1992 coin is valued between US$0.50 and US$1.20.
• On Numista, approximate prices for 1992 are:
  • Very Fine (VF): ~US$0.50
  • Extremely Fine (EF): ~US$0.52
  • Uncirculated (UNC): up to ~US$0.78

4.2 Collector Value in Brazil

• On Numis Market, a 1992 coin in “Extremely Fine” or higher is listed around R$4.00.
• Coins with minting errors (e.g., broken or cracked die) can reach about R$15.00.

4.3 Rarity and Demand

Despite the high mintage, collectors may still find interest in this coin, especially in top-condition examples or coins with errors. Circulated coins are common and usually not highly valuable, but Uncirculated or error variants carry more appeal.

5. Collecting Tips

1. Check the condition: Coin grade greatly affects value.
2. Look for errors: Minting mistakes can significantly increase a coin’s worth.
3. Use trusted references: Catalogs like Numista and Foronum are reliable.
4. Consider local markets: Prices in Brazilian reais vary; local collector sites are useful for trading.
5. Proper storage: Stainless steel is durable, but coins should still be kept in capsules or envelopes to maintain condition.

6. Conclusion

The 1992 100 Cruzeiros coin, featuring the manatee, is interesting historically and numismatically. It represents a challenging economic period in Brazil and, although many were minted, well-preserved coins or error variants remain collectible.

For beginners, it is an accessible entry into 1990s Brazilian coin collecting. For advanced collectors, rare or pristine examples offer higher numismatic value.