1/2 Escudo - Fernando VI Madrid

Fernando VI came to the Spanish throne in July 1746 following the death of Felipe V, making this among the earliest strikes of his reign from the Madrid mint. The half escudo was the smallest gold denomination in the Spanish colonial and domestic system, produced more as a fractional accounting convenience than for heavy daily use — gold of this size circulated reluctantly and often disappeared into hoards or jewelry almost immediately.

The Madrid mint's assayer marks for this transitional period are a point of ongoing study among specialists in Calicó's reference material, Cal#238 placing this firmly within the opening production run under the new king's titulature.