The 500 Reis was minted in Lisbon Portugal from 1863 to 1889 and was issued with a composition of 91.7% or just under under 0.37 silver ounces.
The obverse design features a bust image of King Luis (or Luiz) the I facing left. On the outer periphery (in Latin) are the words “LUDOVICUS·I·PORTUG:ET·ALGARB:REX” or “Luis I of Portugal and Algarves: King”.
After the death of his brother King Pedro V in 1861, Luis assumed the title of King and reigned over Portugal from 1861 until his death at the age of 50 on October 19, 1889. Upon his death the crown was passed on to his son Prince Dom Carlos.
The reverse design features the Portuguese Coat of Arms (the crowned royal shield) and the denomination “500 REIS” is below.
The are no rarities for the series and the closest thing to a key issue is the 1863 issue. For an under valued coin, look for the 1877 issue with a mintage of only 50,000.