1/2 Real - Felipe V

Felipe V ascended to the Spanish throne in 1700 as the first Bourbon king, triggering the War of the Spanish Succession — a conflict that dragged on until 1714 and left the colonial mints largely untouched by the dynastic chaos in Europe. Mexico City continued striking cob coinage under the same macuquina method that had been in use since the 16th century: silver blanks cut from cast bars, weighed, and hammer-struck with no concern for roundness or centering.

KM#24 spans the period before the 1732 milled coinage reform that would eventually end cob production entirely. Surviving examples are rarely well-centered, and attribution to Felipe V rather than Carlos II relies almost entirely on readable assayer initials.