Milreis Pubblico Deposited
The money of account for Portugal and Brazil. One thousand Reis are called Milreis, and one million Reis is known as a Conto di Reis.
The word is derived from mille, mil, a thousand, and real, rey, a King. The Rei of Manual (1495-1521) was a small copper coin of low value which was abolished in the sixteenth century, but multiples were retained, some of which received specific names. Thus the Tostao was one hundred Reis; the Cruzado four hundred, the Coroa five thousand, etc.
A nominal gold standard has been in use in Portugal since 1854 and the gold coins consist of five and two Milreis, i.e., five thousand and two thousand Reis respectively. In silver the Milreis consist of one thousand Reis, and there are smaller coins of silver and bronze, the lowest being a piece of one Real.
Portugal imposed her monetary system on Brazil but cut the value of the unit in two. As a consequence the silver Milreis of Brazil represent a value of half of the Portuguese, and the nickel coins of 400, 200, and 100 Reis, adopted in 1906, are in the same proportion.
- Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)