1/2 Real - Philip III

Obverse description	Central crowned royal cypher composed of interlaced letters P and M (monogram of Philip, Philippus), set within a beaded inner border. The monogram is surmounted by a crown and flanked by partial legend remnants, characteristic of early Potosí cob coinage. No assayer's initial or mint mark is present, as is typical for this early transitional issue struck prior to the regularization of mint controls. The design is crudely struck on an irregular planchet, consistent with the macuquina hammered technique.
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Reverse description	Bold cross of Jerusalem with equal arms dividing the field into four quarters, each containing elements of the quartered arms of Castile and León: alternating castles (Castile) and rampant lions (León). The cross is set within a beaded inner circle, with a partial legend running along the outer border, though poorly preserved due to the irregular cob flan. The strike is characteristic of early Potosí macuquina production, with significant design weakness at the edges.
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Mintage	ND (1596-1602)
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