Used for the payment of large sums, the Portuguese gold Joe, was minted in Brazil and named after King John V (1706-1750) of Portugal, who introduced the gold coin in 1722.
This Portuguese gold coin was an important trading coin in Curaçao beginning in 1785. At its introduction, the coin was worth 90 reales.
As with most coins, the Joe was counterfeited on a large scale. These imitations contained less gold. Subsequently, the Government decided to provide the best specimens with an identifying mark.