Introduction and Historical Context
The 5 Escudos (5$00) coin of 1960 is a commemorative piece of the Portuguese Republic, minted to mark the 500th anniversary of the death of Infante D. Henrique, also known as Henry the Navigator.
Technical Specifications
Here are the technical details of the coin:
- Denomination: 5 Escudos
- Year: 1960
- Mint: Lisbon Mint (Imprensa Nacional – INCM)
- Mintage: approximately 800,000 pieces
- Composition: silver, 800‰ (80% silver, 20% other metals)
- Weight: about 7 g
- Diameter: 25 mm
- Thickness: about 1.4 mm
- Edge: reeded
- Orientation: coin alignment (↑↓)
- Demonetization: ceased to be legal tender on May 1, 1966
Design and Symbolism
Obverse
The obverse features a bust of Infante D. Henrique, three-quarters left, wearing a hat.
Around it, the inscription “Talant de bien faire” (“the will to do well”) appears — a traditional motto associated with Portuguese maritime endeavors in honor of the Infante.
The date 1960 is below the bust.
The obverse was engraved by Marcelino Norte de Almeida.
Reverse
The reverse displays the Portuguese national shield: five escutcheons arranged in a cross, surrounded by castles, representing traditional Portuguese heraldry.
The legend reads: “Quinto Centenário da Morte do Infante Dom Henrique” (“500th Anniversary of the Death of Infante Dom Henrique”) and also includes the year 1960.
Engraver: Marcelino Norte de Almeida.
Importance and Significance
- Commemorative: Celebrates the 500th anniversary of Infante Dom Henrique’s death, a central figure in the Portuguese Age of Discoveries.
- Numismatic: As a silver commemorative coin with a relatively high mintage (800,000), it is well-known among collectors of Portuguese coins.
- Historical: Represents the period of the Second Portuguese Republic (1926–1974) and reflects national and historical symbolism.
Numismatic Value
It is important to distinguish between collector value and intrinsic (metal) value.
Collector Value
- According to the NGC World Coin Price Guide, depending on condition (grade), the coin’s market value varies.
- For example, a coin in MS‑63 (mint state) condition is roughly €15.
- Other listings for the same KM 587 coin show prices around €11–12.
- Coins of this type often appear in numismatic auctions, indicating steady collector demand.
Intrinsic (Metal) Value
- With silver content of 800‰, the melt value is roughly $7–8 USD, depending on current silver prices.
- Thus, most of the coin’s value comes from its collectible, historical, and condition factors, not just silver content.
Factors Affecting Value
- Condition: Wear, scratches, and luster are key; uncirculated coins are worth much more than worn ones.
- Certification: Coins graded by NGC, PCGS, etc., tend to fetch higher prices.
- Mintage: Though 800,000 is not extremely low, it gives relative scarcity for a silver commemorative coin.
- Collector demand: Interest in Portuguese discoveries and Infante D. Henrique can increase value.
- Silver market prices: Fluctuations affect the intrinsic metal value.
Conclusion
The 1960 5 Escudos silver coin is of great interest to Portuguese and European collectors, valued for its historical significance (commemorating Infante D. Henrique) and material value (silver). While not extremely rare, its value can exceed its metal content if in good condition or certified.
For owners looking to sell or assess their coin’s worth:
- Check the coin’s condition (circulated, uncirculated, scratches, luster).
- Compare with recent sales on platforms like VCoins, NumisCorner, or numismatic auctions.
- Consider professional certification for potentially higher value.
- Keep an eye on silver prices, which can influence the minimum sale value.
