1/2 Real - Charles III

Charles III's colonial minting administration was defined by the 1772 ordinance that abolished the cob coinage entirely in favor of milled coins — making the years immediately preceding it, exactly this issue's window, the final chapter of a two-century-old system. The Potosí mint had been the engine of Spanish imperial finance since the 1540s, drawing on the Cerro Rico silver mountain that produced roughly half of all silver circulating in the Western world during the colonial period.

The half real denomination was the smallest silver struck at Potosí and saw intense everyday use in local markets, which means survivors in any respectable condition are genuinely scarce.